Al Mazaya Holding Co (K.S.C) a leading property firm in the region, signed a contribution contract with "Oman Construction" to share in a real estate investment portfolio in Oman with a capital of OMR 3.1 million. Al Mazaya's share is 40% while 12% is for Oman Construction and 12% for "Mina" real estate company. The remainder of the percentage is submitted for IPO from a chosen group of investors and real estate companies.

Announcements & Disclosures

Mubarak Al Sabah: Al Mazaya Holding launches summer promotion for Mazaya Residence & announces completion of 25% of construction works and selling 35% of Phase I units

21-August-2017

  • Al Mazaya Holding launches summer promotional and marketing campaign for Mazaya Residence at competitive prices
  • Prices start at OMR 44,6000 in easy payments
  • One-, two- and three-bedroom flats, with modern style and elegant finishing
  • Marketing platform at Muscat City Centre until August 28

Al Mazaya Holding launched a new promotional campaign on August 15 offering mouthwatering and discounted summer prices for Omani and GCC nationals seeking home ownership and investment at Al Mazaya Residence, the company’s maiden development in Muscat, Oman.

The promotion reveals a set of attractive offers that cater to the needs of different segments of clients, both end-users and investors, including a six-month rental warranty, along with 8 per cent lease returns or equivalent discounts of the total value of the apartment.

A marketing platform has been set up during the campaign at Muscat City Centre in Al Seeb area, which will remain open until August 28 in addition to the permanent sales centre at the project site.

Commenting on the promotion, Sheikh Mubarak Al Sabah, Executive Director of Marketing and Sales Department at Al Mazaya Holding, said, “The new campaign comes in continuation of the promotions launched since the start of the project to publicise the ownership advantages provided by the project for Omani and Gulf citizens. Through this project, we offer a distinguished real estate product that meets the needs of Omani citizens and also match their lifestyle. Until now 35 per cent of the project’s first 148-unit phase has been sold.”

“Mazaya Residence fulfills market needs and enables different segments of society to own residential units at affordable and competitive prices, besides being a promising real investment opportunity thanks to its prime location in one of Muscat’s most vibrant areas near major shopping malls. In addition, the project provides top-quality residential products in terms of modern style and elegant finishing and premium building material.”

He informed that 25 per cent of the construction work has been completed, including the project foundation and spacious underground car park that sprawls beneath the residential building’s total space of 6,614 square metres, adding that the upper part and external structure construction works have been initiated, with full completion scheduled for 2018.

Mazaya Residence includes 120 apartments of different spaces ranging between one, two & three-bedroom apartments and 28 shops in addition to integrated services and utilities, including swimming pools, tennis courts, kids play areas, and fitness clubs for both genders, which altogether ensure an integrated community and hospitable environment.

Concluding, Al Sabah corroborated the feasibility of real estate investment on the Omani market, noting that “The Omani property market is considered among the major and most active markets in the GCC region thanks to its high demand for homes as a direct result of the Sultanate’s population growth, specially in the capital Muscat in addition to the factors of stability and security enjoyed by the country – advantages which have made the nation a favourite destination for investors coming from different countries.”