Kuwait real estate company Al Mazaya Holding has confirmed its mixed-use Mazaya Residence Al-Mawaleh development in Muscat will be completed in the second half of 2018.
More than half (65%) of Phase 1 work on the 6,614m² project in Muscat has been completed so far, the company reported at the Oman Real Estate Exhibition (OREX), which ended last week.
The mixed-use development in Muscat’s Al Seeb area consists of 120 apartments, 28 shops, as well as swimming pools, tennis courts, child play areas, separate male and female fitness centres, and underground parking.
Al Mazaya Holding updated OREX visitors on construction stages and the development of the project. The Kuwait-based business also briefed potential buyers on the payment options for acquiring one of the properties when they hit the market. These include starting prices of $104,031 (OMR 40,000) and up to 30% off on furniture.
The company has organised a project site visit so that potential buyers can see how construction continues to progress, as well as visit a model apartment at the development.
Executive director of marketing and sales at Al Mazaya Group, Sheikh Mubarak Al-Sabah, said he was “delighted” with the level of interest shown in the Mazaya Residence Al-Mawaleh.
The series of agreements signed at OREX, which includes a memorandum of understanding to study the development of master residential planning and architecture layouts, demonstrated an appetite for public-private partnerships in Oman.