MINA SULTAN QABOOS WATERFRONT INVESTOR OPPORTUNITIES
â€œPort Sultan Qaboos will be converted from a commercial port to a fully integrated tourist port. All commercial import, export, general cargo and container activities will be shifted to Sohar Industrial Portâ€? ~ Royal Directive from His Majesty Sultan Qaboos bin Said (July 2011)
HIS MAJESTY SULTAN QABOOS BIN SAID
CONTENTS AN INVESTMENT OPPORTUNITY LIKE NO OTHER
Inaugurated in 1974, Port Sultan Qaboos, was the first commercial port in the Sultanate of Oman. In 2011, His Majesty Sultan Qaboos bin Said issued directives to transfer the
The Vision p3-4 Key Fundamentals
commercial activities of Port Sultan Qaboos to Port Sohar and convert Port Sultan Qaboos into an integrated tourist port. Port Sultan Qaboos is located at the heart of Muttrah, which originally was the centre of commerce in Muscat. Muttrah has one of the oldest traditional souks in the Arab world, with a history stretching back over 200 years and is the most visited tourist destination in Oman. Mina Sultan Qaboos will be re-developed as a high quality Waterfront Destination, over a number of development phases. This will enhance the historical area of Muttrah and transform the Port Sultan Qaboos into the region’s no.1 Waterfront destination, whilst providing the public with greater access to the Waterfront by reintegrating the port area with Muttrah and the city of Muscat. Mina Sultan Qaboos Waterfront is a development without equal. It will serve as the gateway to Muscat. Centred around water, something perpetually valuable and precious, Mina Sultan Qaboos Waterfront will redefine the experience of Muscat and provide investors with a significant opportunity to participate in a unique and unparalleled
Proposed Corporate Activities
marketplace offering. Mina Sultan Qaboos Waterfront is a regeneration initiative that aims to unite the Muscat of yesterday with the vision of Muscat tomorrow. The transformation of Port Sultan Qaboos into a tourism based mixed use waterfront destination will provide a vibrant, active and high quality public realm to Muscat whilst at the same time integrating with and enhancing the existing surrounding historical area of Muttrah. Mina Sultan Qaboos will be transformed into the region’s primary waterfront destination, with a strong sense of ‘local Omani identity’. The project will blend traditional Omani heritage and aesthetics with modern technology, and focus on sustainability and harmony with the environment. The project is envisioned as a pedestrian waterfront community with a mixed-use component that integrates the local heritage and culture while creating a 21st century cosmopolitan feel.
Information contained in this document is subject to change or variation & subject to detail design. The artists renderings are
Mina Sultan Qaboos Waterfront is the only strategically located project in Oman that will offer investors the opportunity to partner with the Government of the Sultanate of
for illustrative purposes only and are subject to change without
Oman and in the process become land developers and realize capital gains from the development of the no.1 location in Oman. Mina Sultan Qaboos Waterfront project will
become the leading authentic Waterfront in the GCC.
Photos sourced from the Ministry of Tourism.
Projected return on equity invested is around 15%.
04 LIVE. DINE. SHOP. WORK.
Imagine a grand city on the sea, whose harbour welcomes the world.
THE VISION • A world-class waterfront development of outstanding beauty and interest that celebrates the maritime history of Muscat and showcases the very best of Omani culture, heritage and innovation to a global audience.
• An exciting and vibrant year round tourism destination that is rich in activities, entertainment and experiences and that quickly establishes itself as the No.1 visitor attraction in Oman.
• A lifestyle community that provides the population of Muscat a true “downtown hub” and that serves as a catalyst for the broader regeneration of Muttrah.
• A platform for commercially successful business enterprise and a stimulus for significant job creation.
KEY FUNDAMENTALS 100% UNIQUE DESTINATION • The opportunity to create a world-class waterfront development, upon the site of a former port, is completely unique within Muscat and will ensure the project stands out within an increasingly competitive market.
A CLEAR MARKET GAP • Muscat does not currently benefit from a main downtown area where friends, families and associates can congregate together and enjoy a wide range of restaurants, cafe’s, shops, museums, galleries, hotels etc - Mina Sultan Qaboos will fill this void.
MULTIPLE INVESTMENT OPPORTUNITIES • The project will offer numerous investment opportunities and attractive returns at the holding company and the individual asset level.
LOCATION & STUNNING NATURAL BEAUTY • Not only does the site benefit from a strategic location within the old heart of Muscat it also benefits from outstanding natural beauty. The surrounding mountain landscape creates a stunning backdrop to complement the dramatic sea, marina and fort views.
ECONOMIES OF SCALE • The sheer scale of the Port Sultan Qaboos development site offers the opportunity to develop a diverse range of attractions, activities and real estate usages that will provide a strong competitive advantage.
The project will blend traditional Omani heritage and aesthetics with modern technology, and focus on sustainability and harmony with the environment.
ROYAL OPERA HOUSE
MARKET OPPORTUNITY TOURISM - A HIGH GROWTH MARKET • The tourism sector in Oman and specifically Muscat continues to enjoy robust growth. Tourism arrivals have grown by 9% per annum since 2010 and Muscat hosts over 60% of all guest nights. As a key component of the Government’s economic strategy, the tourism sector is underpinned by strong fundamentals.
• In recent years, the leading hotels in Muscat have shown strong performance in terms of occupancy, rate and RevPar. However, much of the current stock is dated and behind modern day standards. The hotels in Mina Sultan Qaboos will offer a variety of consumer experience unrivalled within the city.
MUSCAT REAL ESTATE MARKET - UNTAPPED POTENTIAL • The residential market in Muscat has shown steady growth over the last three years, with prices in premium locations reaching close to peak levels of 2008. Mina Sultan Qaboos has the potential to become the most sought after waterfront address in Muscat.
• Both the retail and office markets of Muscat are forecast to see sizable growth in supply over the coming years. In this context offering a clear point of differentiation is key. The unique characteristics of the project site will ensure that the shops, restaurants, cafes and offices of Mina Sultan Qaboos are fully differentiated.
Mina Sultan Qaboos is primed to become the No.1 tourism attraction in the country.
Muttrah has one of the oldest traditional souks in the Arab world, with a history stretching back over 200 years and is the most visited tourist destination in Oman.
Inbound tourism up 9% per annum since 2010
Muscat hosts over 60% of all overnight stays
Average expenditure per stay is $740
Passenger numbers through Muscat show 11% annual growth since 2002
Leisure tourism = 34% Business tourism = 19% VFR = 40%
(Source = WTTC 2015)
• • •
GCC = 38% of tourists Asia = 21% of tourists Europe = 18% of tourists
8. PUBLIC PROMENADE 9. SUPER YACHT MARINA (150 BERTHS ) 10. MOSQUE 11. BANQUET 12. BEACH CLUB & BRANDED RESIDENCES
PORT SULTAN QABOOS
20. ROP - CUSTOMS & IMMIGRATION 21. RESTAURANT / CAFE 22. HEALTH / WELLNESS SPA 23. COMMUNITY FOOTBALL & CLUBHOUSE 24. ROCK PARK & WALKWAY
10 CONCEPT PLAN
On the left, there are views from Port Sultan Qaboos and the satellite image of the Port and Muttrah. On the right, there is the
concept master plan for the new waterfront. The plan combines
tradition and heritage, convenience, superb location, and exquisite
dining experiences, to make Mina Sultan Qaboos Waterfront a
vibrant must-see destination. 07
1. MUTTRAH PUBLIC PROMENADE
H 03 HARAT AL SHAMAL
2. MUTTRAH FISH SOUK
3. FISHERMANS WHARF & CAR PARK
HAY AL MINA
4. ROYAL PRECINCT
5. VARIOUS ATTRACTIONS
SUR AL LAWATIA
21 MUTTRAH FORT
LAYOUT (INCLUDING BUILDINGS) SUBJECT TO DESIGN - FOR ILLUSTRATION PURPOSES ONLY
NFC, COASTGUARD, ROP 17. GRAIN SILOS
SHABAB OMAN NAVY EXPERIENCE
18. FISHERMEN & DHOW BERTHS 19. MIXED USE & BRANDED RESIDENTIAL / RETAIL
8. PUBLIC PROMENADE
20. ROP - CUSTOMS & IMMIGRATION
9. SUPER YACHT MARINA
21. RESTAURANT / CAFE
10. COMMERCIAL 250
BRANDED RESIDENTIAL 15. UPSCALE CONDOMINIUM HOTEL 16. FUTURE DEVELOPMENT ZONES
(150 BERTHS )
0 50 100
14. LEISURE, TENNIS CLUB &
7. MIXED USE / DESTINATION RETAIL
RESIDENCES 13. UTILITIES COMPOUND
6. WATERFRONT PUBLIC PLAZA
12. BEACH CLUB & BRANDED
11. BANQUET & SPA
22. HEALTH / WELLNESS SPA 23. COMMUNITY FOOTBALL & CLUBHOUSE 24. ROCK PARK & WALKWAY
11 DEVELOPMENT ZONES
12 MINA SULTAN QABOOS WATERFRONT : DEVELOPMENT ZONES
H RIYAM PARK
ZONE: NAME : 1A
Embodied within Omani architecture are timeless aspects of proportion, robustness,
simplicity, ornament, and a local response to the hot climate and its intense daylight.
Mina Sultan Qaboos Waterfront will re-energise the core of Muttrah and Harat Al Shamal
Al Inshira Zone
and create a hub of activity, where people return once again to live, work, shop and spend
Hay Al Mina
time with family and friends. A continuous pedestrian boardwalk will be developed along
NFC, TUG , COASTGUARD & ROYAL NAVY BERTHS
ZONE 2 - RESORT ZONE
ZONE 3 - CRUISE ZONE
Arabesque. Natural stone
• Upscale 5 Star Resort hotel
• Upmarket design focused
corridors, high archways,
• 4 Star Resort hotel
The destination shopping
• Fisherman’s Wharf, Fish Souq
the basin edge and high quality terraced public open spaces fronted by active, outward
• 5 Star Marina Hotel
facing, mixed use development.
Future Development Zones
• 4 Star family hotel
Indicative Hotel Locations
• Hotel Operated Branded
experience will be Omani Style
VEL OP ME N
ZONE 1 – WATERFRONT HEART
decors. Alleyways will be lined with
CRUISE LINER BERTHS
various retail outlets - an
• Starter apartments for first H
• Destination Shopping- Cafes, Boutiques, offices,
entertainment and cultural
FISHERMEN BERTHS FISH SOUK
• Super Yacht & Leisure Boat SUR AL LAWATIA
Marina • Buildings heights - 2 to 4
HARAT AL SHAMAL MUTTRAH
eclectic mix of authentic
time buyers Waterside Restaurants &
subdued lighting and arabesque
retail experience • Upscale boutique hotel
• Conference & Banquet facility
• Hotel operated Branded residential apartments
• World Class Wellness Spa &
• Buildings heights - 1 to 4
• Cafes & shops • Beach Club & Residences
ZONE 4 - HAY AL MINA
wear, perfumes, carpets,
• Sports, tennis & leisure club
furnishings, sports items,
• Economy/Budget Hotel
• Children’s Village
• First Time Buyers Starter
handicrafts, jewelry, fashion
books; dining, a department store, several internationally
• Clusters of elegant hotel
known flagship stores, as
branded townhouses and
well as a unique children’s
“edutainment” and the conveniences of modern times - from groceries to currency exchange.
• Buildings heights - 2 to 7 levels.
Homes • Public facilities including a local clinic • Mixed use facilities including local convenience shops, football field and clubhouse • Buildings heights - 2 to 8
H HAY AL MINA
Mina Sultan Qaboos has received expressions of interest from the following hotel groups - Mandarin Oriental, Hyatt, Viceroy, Hilton, Taj, Banyan Tree, Chedi & Four Seasons to manage the hotels in the Waterfront.
PROPOSED CORPORATE ACTIVITIES MINA SULTAN QABOOS WATERFRONT COMPANY
Sound investment opportunities through promoting sustainability and economic diversification are key goals of Mina Sultan Qaboos Waterfront.
Infrastructure, Common Areas
Master Community Management
Economic & Social
Hotel Joint Ventures
Home Owners Associations
Arts & Culture
Marina Leasing & Management
Retail & Food & Beverage Brands
Legal & Contractual Procurement
Research-Trends & Forecast
Cleaning and maintenance services
Health & Safety
Cruise ship management
is based on the complex redevelopment requirements of the site and to enable
Harbour Master Management (Port Services Corporation)
establishing a private sector company
private sector participation.
Sales & Marketing
Sale of residential Property
Resales of Branded Residential Property
Leasing of Retail & Food & Beverage Outlets
Development & Construction of Properties
Rental of Properties
Development & Operations Company will
MINA SULTAN QABOOS WATERFRONT COMPANY A
Management, Investment & Finance
Tenant Fit Out Coordination
Tour Operator Event management
Development Delivery TeamConsultants
16 Driving Shareholder value through secure long-term recurring revenues.
INVESTMENT OPPORTUNITIES The opportunities include investing in the following elements of the project:
EQUITY INVESTMENT (FOUNDING SHAREHOLDERS) IN THE MINA SULTAN QABOOS WATERFRONT COMPANY • It is expected that share packages of around 2.5%-5% of the Company will be made available for sale. This will be carried out by a placement of shares in the new company. The Company will be formed to develop a mixed-use real estate offering, without equal. • Up to 49% of the Company will be made available.
INVESTMENT IN THE UNDERLYING ASSETS OF THE MINA SULTAN QABOOS WATERFRONT COMPANY: • Joint venture investment in the Retail & entertainment assets
• Joint Venture investment in Hotels in the waterfront or outright acquisition of hotels plots: • Five Star Marina Hotel • Four Star family hotel • 5 Star Resort hotel • 4 Star Resort hotel • 5 Star Conference & Banqueting facility • 5 Star World Class Wellness Spa • 5 Star Upscale boutique hotel • 3 Star Economy/Budget Hotel
To register for information or to arrange an investor presentation please email:
JOINT VENTURE INVESTMENT IN THE FOLLOWING POTENTIAL BUSINESS UNITS: • • • • • • • •
Property Finance Company Facility Management Company Landscape & Cleaning Company Insurance Company Security Company Waste Removal/Management Company Cleaning Company Property Management and Leasing Company
Government of Sultanate of Oman
Strategic InvestorsFounding Shareholders
MINA SULTAN QABOOS WATERFRONT COMPANY
Development of Operation of Mina Sultan Qaboos Waterfront
Other Service Companies
LIVE. DINE. SHOP. WORK.
CASE STUDY - V & A WATERFRONT CAPE TOWN Over the past thirty years some of the world’s most innovative real estate developments have taken place at waterfronts. From Boston, Baltimore, Vancouver and Toronto in North America, to Cardiff, London, Rotterdam and Barcelona in Europe, and Sydney, Melbourne, Singapore and Osaka in the Pacific Rim, waterfronts worldwide have become the new retail, leisure and entertainment destinations in port cities. Successful waterfront projects have re-established the rich cultural and historic links between land and water in many port and river cities across the globe. To amplify the opportunity at Sultan Qaboos Port, detailed below are the key characteristics and data of V&A Cape Town Waterfront, which occupies the same area of land as Sultan Qaboos Port.
• The V&A Waterfront has a mix of long-term high profile retail and business tenants
• 450 retail shops • 150 commercial tenants
• 64% (383,833sqm) has been developed • 80 restaurants & cafes • 36% (220,035sqm) available for development • Approximately 45% of the area is allocated to residential development
• 600 built and sold luxury apartments, townhouses & penthouses, with further under development • 400 rental apartments and self-catering units
• The old harbour in Cape Town was transformed over 10 years to become one of the worlds leading mixed- use waterfront developments
• 8,500 parking bays • 22 Historical and cultural landmarks
• Has become the local and tourist “heart” of Cape Town, linking the city to the waterfront
• 20 leisure attractions
• 23 million visits per year-60% from Cape Town
• 1 SME business incubator-Craft market
• 19,000 people work at the waterfront on a daily basis
• 1 SME business incubator-Fresh & Organic Food market
• 10 Hotels (Boutique, 5 star, 4 star & 3 star), including a One& Only Hotel
• 200 Small business enterprise incubator stalls
• 10 Hotels
• Extensive children’s entertainment & aquarium
MINA SULTAN QABOOS WATERFRONT INVESTOR OPPORTUNITIES
Published on Feb 23, 2016
Mina Sultan Qaboos is arguably one of the finest real estate development opportunities in the region The development aims to influence the...