Wednesday 23 / October / 2024
Muscat: The official announcement ceremony for the Malak Tower project, which will be built in the Ghala area in Muscat Governorate, was held on a total construction area of approximately 17 thousand square meters and its investment value reached OMR 12 million. It is expected to be completed by the end of 2027.
The Malak Tower project is a first-class office building, and generally consists of 12 floors, including two basement floors for parking, a ground floor dedicated to commercial spaces, in addition to nine floors dedicated to offices. This project represents an important shift in the real estate development scene in the Sultanate of Oman.
The project comes as a result of a strategic partnership between His Highness Sayyid Kamil bin Fahd Al Said as the owner of the project, Al Khalili Group as the developer, and Tabyan as its marketer and manager. This partnership highlights the importance of cooperation in completing value-added projects in real estate development by launching high-quality, qualitative projects that meet the needs of business owners and investors in the Sultanate of Oman.
His Highness Sayyid Kamil bin Fahd Al Said, owner of Malak Tower project, said: “The Malak Tower project is not just a real estate tower, but a joint effort that reflects an attractive added value for business and investment. The strategic location of the project overlooking Sultan Qaboos Street gives it privacy, a unique status and a distinctive commercial value. This street is an important commercial axis that connects the past, present and future, and will contribute to enhancing commercial activity in the region and creating new investment opportunities.”
The official announcement ceremony of the project was sponsored by His Excellency Abdul Salam bin Mohammed Al Murshidi, Chairman of the Oman Investment Authority, in the presence of a number of Their Highnesses, Excellencies, and business owners at the W Hotel.
It is worth noting that one of the main advantages of Malak Tower is that it will enable companies and individual investors to own office and commercial spaces at competitive prices, providing them with investment opportunities in a distinguished location, and will provide attractive payment plans for buyers that enable them to pay the purchase value in appropriate stages. This project is expected to attract a variety of companies and commercial institutions, which will enrich the list of businesses in the tower.
