Arabian Gulf Gate to develop OMR 44 million ‘Ryad Al Sawadi’ project in Oman
May 06, 2008
Arabian Gulf Gate (AGG), an Oman-based property developer, has announced its plans to develop ‘Ryad Al Sawadi’, an OMR 44 million (AED 420 million) project, located in the coastal plains of Barkaa state in Oman, which is expected to attract more regional and global investors to acquire high quality but competitively-priced properties in the country. With aims of highlighting the excellent investment opportunities amidst the rapidly growing economy in the Sultanate, the developer has appointed Eqarat.com, a leading total solutions provider to the real estate sector, to exclusively manage and drive the sales of its Marrakech-inspired community project. The developer also revealed that all the units within the project have been booked during its launch in the early part of 2008, and that it is all geared up to launch the second phase of the project within the coming months.
Enveloped within the coastal countryside 40 kilometres from Muscat, ‘Ryad Al Sawadi’ will consist of 190 three- and four-bedroom villas with an average built-up area of 3,000 sq.ft., in addition to a service block, which is set to offer 90 furnished apartments, a retail area, a gym and health spa, various restaurants, and spacious garden and parks amidst the area’s natural valleys. Each of the luxurious villa units, which are currently in the pre-construction phase, is being offered at a starting price of OMR 130,000, which will vary according to the size and features of the residential units. In addition to the developer’s commitment to complete the project within 20 months from the start of construction, a convenient payment scheme has also been devised to ensure investors and end-users are able to purchase the villa of their choice.