Oman’s Omran said to buy stakes in 8 tourism projects

Omran, Oman’s tourism investment arm, has reportedly taken over or acquired stakes in eight companies in the sultanate to drive development.

James Wilson, the company’s chief executive, told the Times of Oman, that tourism projects being built in the country amounted to $779.6 million.

The eight firms include Marina Bander Rhowda, the taking over of Oman Sail and Oman Tourism College, two major stakes in listed companies and a 40 percent stake in the The Wave – a mixed-use development, which is home to a 18 hole PGA golf course, residential properties, retail and dining facilities, luxury hotels and a 400-berth marina.

“We have taken a 40 percent stake in The Wave. We have taken the 40 percent shareholding that was held by the Ministry of Finance,” he was quoted as saying.

Source