Dubai: Oman has laid the foundation stone for a major tourism and commercial development worth OMR5.775 million on Masirah Island, as the Sultanate steps up efforts to attract investment and strengthen its tourism infrastructure.
The project, being developed by United Real Estate Company in South Al Sharqiyah Governorate, will span approximately 60,000 square metres, combining tourist accommodation, retail outlets, recreational facilities and commercial services, the Oman News Agency (ONA) reported.
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The development will feature a 20-room tourist lodge, more than 40 villas and chalets, a traditional souq and a multipurpose hall, alongside landscaped gardens, green spaces and pedestrian walkways.
Designed to capitalise on Masirah Island's natural beauty and cultural heritage, the project aims to diversify the governorate's tourism offerings and establish new attractions for domestic and international visitors.
The development is also expected to stimulate economic activity by creating commercial and marketing opportunities for small and medium-sized enterprises, entrepreneurs and home-based businesses.
According to ONA, the investment forms part of wider efforts to position South Al Sharqiyah as an attractive destination for tourism and commercial investment, while making greater use of the region's natural, cultural and heritage assets.
The project is expected to contribute to the local economy by expanding tourism services, encouraging private-sector participation and supporting sustainable development on the island.