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Musandam Global Investment Company SAOC has initiated the development of Palm Hills, a significant real estate project in Khasab, Musandam Governorate, Oman. This initiative aligns with the Ministry of Housing and Urban Planning's Integrated Residential Neighbourhoods Initiative, aiming to set new standards for sustainable community development in the region.
Project Overview
Palm Hills is set to cover an area of 635,000 square meters, with an estimated investment of OMR 70 million. The development plans include:
Residential and Commercial Units: Approximately 650 residential units integrated with commercial spaces.
Hospitality and Public Amenities: A hotel, mosque, public majlis (gathering place), sports fields, medical center, and a nursery.
Educational Facilities: A branch of the University of Technology and Applied Sciences in Musandam.
Green Spaces: Extensive green areas to enhance the living environment.
Infrastructure Development
To ensure modern and reliable infrastructure, several agreements have been signed:
Water and Sewage Systems: In collaboration with Nama Water Services Company, comprehensive water and sewage networks will be established.
Electricity Distribution: Partnerships with Nama Electricity Distribution Company will facilitate the development of robust electricity distribution systems.
Digital Connectivity: A fiber optic network will be installed in cooperation with Oman Broadband Company, ensuring state-of-the-art digital infrastructure.
Investment Opportunities
Palm Hills is designed to attract both local and international investors. Notably, 25% of the project's residential units are designated for ownership by non-Omanis, offering expatriates the opportunity to invest in freehold properties within the development.
This project is poised to redefine modern living in Khasab, providing a blend of residential comfort, commercial viability, and essential public services, all within a sustainably planned community.
Source: Oman Observer
