Egyptian firms are looking to set up a USD 1 bn real estate project in Oman: A consortium of local real estate developers, contractors, and consultants have plans to set up a USD 1 bn real estate project in Oman, reports Al Borsa, citing Shams El Din Youssef, chair of Alshams For Contracting, one of the parties involved. The project will consist of residential, commercial, and administrative units.

Who’s involved? Along with Alshams For Contracting, the consortium includes AlexandriaCompany for Investment and Development, real estate marketing company Real Mark, Construction and Project Management Consultancy, and an unnamed contracting company specialized in infrastructure projects, Youssef said.

Where things stand: The consortium is currently in discussions with the Omani government over the timeline and final investment size for the project, Youssef said.

Oman wants our input: The Omani government proposed the project to the Alexandria Company for Investment and Development in order to benefit from the expertise of Egyptian firms, he added.

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