Dar Global, the London-listed luxury real estate developer said that it will develop a mixed-use coastal project in Oman.
The project, under the name MAD – Muscat Marine, Art, and Digital District – is a partnership with the local firm: Art District Real Estate Development.
The full development is expected to be delivered over a 12-year period with an estimated gross value (GDV) of 1.6bn Omani riyals ($4.2bn) across all phases.
According to Ziad el-Chaar, the CEO of Dar Global, “MAD represents a defining step in how Oman’s coastline will be experienced and how its future economy will emerge… MAD is a new gateway for Oman, one inspired by the sea and shaped by innovation.”
Dar Global is also developing the 3.5million square metre AIDA mixed-use project in Muscat in a joint venture with Omran Group.
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