BUSINESS REPORTER
MUSCAT, JUNE 28
Al Mouj Muscat mentioned it has contributed RO 878 million to the Sultanate of Oman’s gross home product over the last 20 years, highlighting the rising financial have an effect on of some of the nation’s biggest built-in tourism traits.
The findings, launched because the waterfront vacation spot marked its twentieth anniversary, are in keeping with an unbiased learn about carried out by way of Omani consultancy The Company for Trade and Financial Consulting. The learn about positions Al Mouj Muscat as a big contributor to financial diversification, tourism enlargement and overseas funding in keeping with the goals of Oman Imaginative and prescient 2040.
In step with the document, Al Mouj Muscat has generated greater than RO 1 billion in cumulative earnings over the last twenty years whilst facilitating RO 880 million in overseas direct funding and assets possession. The vacation spot additionally data round RO 385,000 in day by day transactions and helps 167 small and medium-sized enterprises (SMEs). Round 43.6 in line with cent of its expenditure is retained throughout the Omani economic system, reinforcing its contribution to native companies and provide chains.
The advance has attracted patrons and citizens from greater than 90 nationalities, whilst turning in a 337 in line with cent shareholder go back via a various portfolio spanning residential communities, hospitality, retail, marina and recreational property.
Ahmed al Massan, Appearing Leader Govt Officer of Al Mouj Muscat, mentioned the mission had developed past a traditional actual property building right into a long-term financial asset for Oman.
“Al Mouj Muscat was never intended to be a conventional development; it was designed to demonstrate what integrated destinations can deliver for a national economy. Twenty years on, the results are clear, with sustained investment, measurable economic contribution, and a thriving ecosystem that continues to grow in scale and complexity,” he mentioned.
“As we enter our next phase, our priority is to build on this momentum by unlocking new investment pathways, raising delivery standards, and positioning Oman even more strongly on the global map for tourism and integrated living.” Tourism stays some of the mission’s most powerful financial drivers. Al Mouj Muscat draws just about 4 million guests every year via its built-in mixture of accommodations, marina, golfing path, shops, eating places and year-round occasions.
Its hospitality portfolio contains 5 branded accommodations with a blended 1,196 rooms, which the learn about estimates have contributed RO 274 million to Oman’s tourism GDP since opening.
The award-winning Al Mouj Marina, that includes 400 berths and supporting 31 excursion operator SMEs, contributes between RO 2.5 million and RO 3.8 million every year to tourism revenues via marine tourism, waterfront retail and recreational actions.
Al Mouj Golfing has additionally bolstered Oman’s profile as a regional carrying vacation spot. Ranked a few of the global’s best 100 golfing lessons on 9 events over the last 20 years, it has hosted 11 world championships, attracting gamers and guests from world wide.
The vacation spot’s occasions programme has change into any other necessary financial contributor. In step with the learn about, 142 carrying, cultural and way of life occasions have generated an estimated RO 245 million in financial have an effect on, supporting tourism call for, hospitality companies and the broader customer economic system.
HH Dr Adham bin Turki al Mentioned, Founding father of The Company, mentioned the learn about confirmed Al Mouj Muscat’s have an effect on prolonged way past direct monetary returns.
“Our research shows that what distinguishes Al Mouj Muscat is the consistency and breadth of its impact over time. The data demonstrates a development that not only generates direct economic returns, but also activates wider value chains, which are critical pillars of the country’s long-term development agenda, from SME growth to tourism demand and foreign investment inflows. Few projects operate with this level of integration and measurable economic and social impact.” The learn about concludes that Al Mouj Muscat has change into one in every of Oman’s main built-in tourism locations, combining residential, hospitality, recreational and industrial property whilst supporting funding, process introduction and financial diversification.
