New City Salalah – Salalah

Project Name: New City Salalah

Client Name: Ministry of Housing and Urban Planning, Sultanate of Oman

Location: Salalah

Assets Covered: Residential, Office, Hospitality, Retail, Marina, Leisure and Entertainment, Education

Project Size: 5 Square Kms

Project Value: Confidential

Executive Summary

Ministry of Housing and Urban Planning, Sultanate of Oman is developing a unique seaside 5 square km seaside destination township in Salalah with the following objectives:

• To create Salalah into a 365 day tourism destination
• To improve residential options for residents of Salalah
• To emerge as an economic node for Salalah housing offices and SME’s

This initiative aligns with the Vision 2040 strategy, aiming to diversify Oman’s economy from oil-dependent sectors to non-oil sectors by enhancing the country’s residential and tourism infrastructure.

Our Solution/Recommendations

Cavendish Maxwell was appointed to undertake highest and best use study and economic impact assessment of the project wherein we undertook the following activities:

• Identifying key real estate sectors to focus on.
• Determining quantum of the potential demand at the site.
• Recommending types of assets for development, tailored to the target audience.
• Advising on the optimal sizes for these assets.
• Recommend on type of hospitality assets to be envisaged at the site.
• Suggest suitable retail, leisure, and entertainment concepts for the site to establish it as a destination that not only complements other sectors but also serves as a catalyst for demand.
• Setting pricing strategies for the assets.
• Assessing the financial viability of the proposed asset types.
• Evaluating the project’s economic impact, including job creation and its contribution to the Omani economy through the development phase.

Completion Date: Project is still ongoing.