As reported by the Oman Observer, the Muscat National Development and Investment Company (ASAAS Oman) on Monday signed a usufruct (land development) agreement with the Office of Minister of State and Governor of Musandam to develop Bassah Beach in the Wilayat of Khasab to the tune of RO9 million (USD$23.4 mn).
The agreement provides for the development of an area of 73,000 to set up a number of facilities, including a tourism resort and a public park.
The agreement was signed by Sayyid Ibrahim bin Said al Busaidi, Minister of State and Governor of Dhofar, and Abdullah bin Humaid al Maamari, Board Chairman, Asas.
The agreement comes as part of efforts made by ASAAS to help foster economic diversification, since tourism projects enhance the Gross Domestic Product, generate jobs, and promote partnership with the government sector.
With its wide stretch of pristine sands flanked by crystal blue water and rocky hills, Bassah Beach, which lies 2.6 km from the center of the Wilayat (Khasab town), gives a breather to the local population. It offers “another prominent site to be added to the tourist map of the Governorate of Musandam,” said Al Maamari.
Earlier, the Chairman of Oman Investment Authority (OIA) Abdussalam bin Mohammed al Murshidi said that the OIA has the mandate to empower Omani development and tourism firms by granting them priority and confidence, particularly when they have a potential to establish world-class tourism projects that conform to the Sultanate’s tourism strategy.
Construction Business News
09/09/2020
