Cairo - Mubasher: Orascom Development Holding said its Omani Subsidiary; Muriya has signed a
Development Agreement with Oman's Ministry of Tourism to Develop City Walk in the heart of Muscat.
The agreement was signed by Samih Sawiris, Chairman of ODH with Ahmed bin Nasser Al Mahrizi, Oman's Minister of Tourism.
The City Walk will be a vibrant beachfront commercial city complex located in North Al Hail, Muscat.
The development agreement is based on a usufruct concession for 50 years with fees payable starting from year 6.
City Walk is a 47,499 square meter project that will comprise a 355-meter water front, a retail area with shops and restaurants, as well as an upscale 123 rooms 5-star hotel.
