Qatari Diar inks deal for three Oman tourism projects

Qatari Diar, the property arm of Qatar's sovereign wealth fund, said on Monday it has signed a memorandum of understanding (MoU) with Oman's Ministry of Tourism to develop three mixed-use developments in the sultanate. The Ras Al Hadd development in the Sur district, which forms part of the latest agreement, will feature a five-star hotel and spa, residential villas, apartments, souks, a marina and villa plots. The second project will include a five-star luxury resort hotel and spa as well as residential villas and apartments. The third project will consist of a yacht club and marina, a sports academy, and three boutique hotels, the developer said in a statement. The deal also establishes a partnership of 70/30 between Qatari Diar and Omani Ministry of Tourism on the three projects, it added.