After its completion, the Al Mouj Muscat project will provide 5,500 job opportunities, according to Nasser bin Masoud Al Sheibani, the CEO of Al Mouj. He noted that the project currently recorded 2,200 permanent jobs, boasting an Omanization rate of 75 percent.
Al Mouj Muscat is a joint venture of UAE-based Majid Al-Futtaim Real Estate Company, Oman Tourism Development Company (Oman), and Tanmia(Oman National Investment Development Company).
Established in 2006, Al Mouj Muscat was tasked with establishing the nation’s first Integrated Tourism Complex (ITC), with the aim of contributing to growth in tourism, employment, development, opportunities for enterprise, and economic diversification.
Al-Sheibani said he expected the project will be completed within the next five years, as 75 percent is complete by far.
He further pointed out that the project’s assets grew by 777 percent, while total development costs were valued at $3.5 billion, the majority of which was spent on the local economy.
Moreover, he said that the destination has also attracted foreign direct investment (FDI) of $844 million, encouraged by freehold home ownership. In addition, the project’s spending on social responsibility programs totaled 4.5 million Omani riyals through the years.
In addition, he added, the project supports 150 small and medium-sized enterprises (SMEs) and will work until project completion to provide more support to these companies.