Omran buys stake in eight tourism related projects

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

The organisation revealed to the Times of Oman, through its chief executive James Wilson, that tourism projects being built in the country were amounting to US $779.6m (OMR 300)

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

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