Affordable housing schemes planned
- Supreme Council for Planning has said the properties must be affordable developments for Omani citizens
- Long-term contracts will allow private companies to develop integrated residential complexes
Omans Supreme Council for Planning (SCP) is preparing frameworks for private sector investment in affordable housing complexes.
It is planning to allow investment funds, private developers or the government to undertake residential developments in the sultanate using a public private partnership (PPPs) model. The SCP has said the properties must be affordable developments for Omani citizens.
The long-term contracts will allow private companies to develop integrated residential complexes. They would include infrastructure and services as well as recreational and commercial facilities.
Preliminary results of a study into the need for affordable housing are under review by the SCP, according to the Oman News Agency.
Bahrain has pioneered this type of development in the Middle East. The first PPP affordable housing scheme there reached a financial close in 2013 after years of delays. Local developer Naseej should deliver the first homes in mid-2016.
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