Oman’s newest integrated economic city, Khazaen Economic City has signed a new investment agreement with Ibtina company in order to establish the first businessmen hotel in the economic city.
The hotel, which will cover a total area of 4,500 square meters, targets various segments of businessmen in the city and will include hotel rooms, a business center, conference and workshop spaces, corporate administrative offices, trade fairs, and a variety of restaurants.
The agreement was inked by Eng. Salim bin Sulaiman al Thuhli, CEO of Khazaen Economic City, and Mr. Ibrahim bin Khalfan Al Amri, CEO of Ibtina Trading and Contracting Company.
“This agreement is the first hotel project in the city, which will contribute significantly to attracting investors and facilitating businesses by providing hotel rooms and a business center for the city investors and visitors, which will strengthen the principle of the integrated city. This signing reflects the steady growth of the city and the confidence and tendency of different categories of investors.”
Mr. Al Amri commented, “The idea of investing in the establishment of this businessmen hotel came from noticing the great demand of investors in the city for various field projects, which will serve the city visitors and the companies operating in the city. We are looking forward to start implementing the project within the coming months.”
Khazaen Economic City is the Sultanate’s largest public-private cooperation initiative in the field of integrated economic zones and free zones. It is the latest integrated economic city to be developed in the Wilayat of Barka. Khazaen is strategically located between Sohar Port, Muscat Airport, and Muscat City.