The Sultanate of Oman is one of the Gulf countries, located on the southeastern coast of the Arabian Peninsula, with borders in the United Arab Emirates, Saudi Arabia and Yemen covering an area of 309.5 thousand square kilometers (120 thousand square miles). Freehold ownership of property in Oman was granted on February 19th 2006 in "tourism designated areas".
The Wave, Muscat is the first freehold tourism and residential development to be launched in the Sultanate of Oman. The US$ 805 million project will stretch along 7 kilometers (4.35 miles) of beachfront land overlooking the Gulf of Oman and covers an area of approximately 2.5 million square meters (26.9 million square feet). It will be located in Muscat, Oman's capital city, and will be 5 kilometers (3.1 miles) from Muscat's Seeb International Airport.
The Wave, Muscat will contain an 18-hole golf course designed by Greg Norman, a 300 berth marina, 4 luxury hotels, office buildings, retail and restaurant outlets, and over 4,000 residential units. The residential units of the project will be divided into luxury apartments and townhouses, as well as garden, waterfront and beachfront villas. The Wave, Muscat will also contain low-rise commercial buildings with a total of 40 thousand square meters (430 thousand square feet) of office space, while the shopping retail outlets will range from high fashion to a traditional Omani souk.
The Wave, Muscat was announced in 2005 and will be developed over a period of six years, while the the first set of residential townhouses and villas are set to be completed in early 2008. It is a joint venture between the Omani government (Oman's Waterfront Investments), Omani Pension Funds (National Investment Funds Company) and Dubai-based Majid Al-Futtaim Investments (MAFI). The project has OBM International as its master planners and WS Atkins as its lead architect.
Expected Completion Date - By 2012
Location - Muscat, Sultanate of Oman
