Arab News, Sunday, Mar 27, 2022 | Sha'ban 24, 1443
Saudi Dar Alrkan, Oman’s Omran partner in $1.6bn deal to bolster tourism
Saudi Arabia,
Oman:
Saudi real estate developer Dar Alarkan has partnered with the Omani Tourism
Development Co. in a deal estimated at SR6 billion ($1.6 billion) to bolster
tourism.
The ten-year deal will involve developing a real
estate project in three stages over an area of 3.5 million square meters in
Muscat, Oman, according to a bourse filing.
Dar Alarkan said the transaction is expected to
impact its financial statements starting from 2027.
The joint venture comes in line with the
Saudi-based company’s plans to invest more in the tourism sector.