Ominvest plan $1bn tourist resort for Oman

Oman International Development & Investment Company (Ominvest) is planning to build a $1bn tourist resort in the southern port city of Salalah, Oman.

The proposed tourist development is expected to contain four hotels and housing units, which will be offered for sale to local and international investors.

Construction of the resort is expected to begin by the beginning of 2011 and will involve three phases of development.

The proposed Ominvest project is the latest of a number of large tourist developments planned for Oman. The others include the $15bn Blue City, the $2bn Wave Muscat, and the  $2bn Muriya projects.