Wednesday, December 27, 2017

Oman to float Muscat Expressway tenders in 2018

Oman's Ministry of Transport and Communications aims to float tenders for its four-lane Muscat – Bidbid Expressway project next year, said a report.

Also plans are afoot to open the Al Batinah Expressway up to Wadi Al Jizi in April, reported Oman News Agency.

In another development, the ministry has awarded Oman Global Logistics Group (Asyad), a government holding company, the contract to manage tunnels on Bidbid/Sur road.

The agreement was signed by Salim bin Mohammed Al Nuaimi, the undersecretary of the ministry and Abdul Rahman bin Salim Al Hatmi, the CEO of Asyad, said the report.

It implements the national economic diversification program ' Tanfeedh'. The project is the first of its kind using this approach, it added.

"Work is underway at the tunnels in Bidbid- Sur road at Wadi Al Uqq. The first-of-its-kind tunnel experience in the sultanate is one of the initiatives of Tanfeedh program with relation to establishing a company to manage transport and communication public projects," stated Al Nuaimi.
 
"Diba-Lima- Khasab road needs more than eight tunnels - each between 1.5 km to 2 km - to meet the technological developments in road projects," he added.



from Construction Realestate

Dubai remains 'top choice' for GCC Mice destination

The Meetings, incentives, conferences, and events (Mice) market is growing rapidly in the Middle East, particularly in Dubai, as it remains the top-choice for business, incentives and meetings and luxury travel from the GCC, a study conducted by event management company QnA International revealed.

Dubai has been at the forefront of the GCC’s Dh4.7 billion ($1.27 billion) Mice industry, and accounts for more than a quarter of the GCC Mice market, showed an earlier study conducted by Strategy& in 2015.

While the survey results indicate that Dubai’s popularity has not waned, other countries in the Middle East including Egypt, Bahrain, Kuwait, Morocco and other GCC nations are gaining momentum as they develop their respective Mice and luxury travel sectors.

According to the World Travel and Tourism Council, outbound travel expenditure from the Middle East is expected to reach $165.3 billion by 2025 - a high number when compared with the worrying statistic that suggests only 2 per cent of global exhibitions take place in the Middle East.

The survey conducted by QnA International on the global Mice, business & luxury travel industry revealed insights on industry trends and challenges, emerging global destinations and emerging trends and challenges within the industry.

The results indicate some new destinations of choice for business and luxury travel. For instance, France was indicated as the most preferred business travel destination in Europe with Greece too making an appearance while Morocco and Australia were listed as destinations of choice for luxury travel.

The complete list is as follows –

Top destinations for Business Travel include European countries such as France, Germany, Spain, Italy, UK, Greece, and Asian countries such as China, India, Singapore, Malaysia and Japan along with Australia, UAE and US. Top destinations for Mice include Australia, Europe specifically Eastern Europe, Central Asian countries such as Azerbaijan, Georgia, Armenia as well as the South Asian subcontinent and Far East.

Mediterranean countries such as Montenegro, Albania, Cyprus, Greece, Turkey and countries from Middle East & Africa like UAE, Kuwait , Kenya, Tanzania also featured as top destinations for Mice.

Australia, US, New Zealand, Fiji, Bora Bora, UAE, Mauritius, Croatia, Morocco, Hawaii and other European destinations have been marked as top luxury travel destinations from the GCC.

Delegates were also asked to identify emerging destinations that could overtake developed markets as a tourism and hospitality destination. Fascinatingly, countries from the Middle East, Mediterranean, Baltic, Eastern Europe and Far East Asia were identified and include Hong Kong, Macau, South Korea, Siberia, Taiwan, Brunei, Indonesia, Myanmar, Philippines, Thailand to European countries such as Estonia, Latvia, Finland, Lithuania, Poland and Sweden to Mediterranean countries Monaco, Slovenia, Croatia, Bosnia and Herzegovina, Montenegro, Albania and last but not the least Russia, Middle East countries such as Oman, Bahrain, Egypt & Saudi Arabia.

Amongst the trends changing the Mice, business and luxury travel landscape from the Middle East, the delegates identified the integration of technology and technological breakthroughs in the industry as pertinent. Other trends considered important were creating authentic experiences, high end luxury luxury, focusing on needs of the Islamic traveller, mobility, and value for money deals whereas some of the challenges identified by survey respondents include delivery timelines, budget constraints, availability of Halal food, finding the correct supplier and the appropriate destination, security, competitive rates, cultural understanding and cultural protocols.

“Taking these market findings into consideration, the sixth annual Mice Arabia and luxury travel Congress has put into place a conference agenda that will discuss the trends and challenges in these sectors and propose practical solutions, while retaining a dominant focus on the one-to-one prescheduled business meetings between the buyers and the suppliers," said Sidh N.C, director, QnA International.

The sixth annual Mice Arabia and Luxury Travel Congress will be held from February 27-28, 2018 in Dubai, UAE. - TradeArabia News Service
 



from Travel Tourism Hospitality

Sweid & Sweid awards Dubai Banyan Tree project

UAE-based developer Sweid & Sweid has signed up Civilco Civil Engineering & Contracting Company as the lead contractor for its first Banyan Tree Residences project in the Middle East being built in Dubai.

Located on a large island overlooking The Emirates and Montgomerie golf courses, Banyan Tree Residences sits at the intersection of DMCC and Emirates Hills on Al Telal Street.

The single tower development will boast 244 residences stretched over 32 storeys and include one-, two-, three- and four-bedroom apartments, duplex apartments with private outdoor gardens, and three full-floor penthouses crowning the building, said a statement from Sweid & Sweid.

The project is scheduled for completion in the third quarter of 2019, it stated.

On the contract award, Maher Sweid, the managing partner, said: "The selection was made based on Civilco’s proven track record of successfully executing high rise projects in Dubai and throughout the UAE, along with timely completion."

“Furthermore, the company boasts extensive experience in managing projects within busy residential areas including the Burj Khalifa District and Jumeirah Lake Towers. Its strong financial standing and comprehensive network of experienced subcontractors and suppliers strengthen its prequalification as the main contractor of choice,” he stated.

Nader Dahdal. the area manager from Civilco, said: "Sweid & Sweid is an award-winning developer with exceptional standards. To be selected to complete this iconic development is a testament to our experience and expertise which will be key to ensuring Banyan Tree brand attributes are not compromised."

"We are very happy with the construction progress made to date. We are on schedule to handover and be ready for the Q3 2019 deadline," he added.

The UAE developer has also roped in Arcan Project Management as project manager.

"With decades of experience spanning countless towers, we are excited to be a part of this ground-breaking development where numerous components – including the amenities and views – make it a truly unique project in Dubai," remarked Amid Jondi, the managing director of Arcan Project Management.

Set within a gated community stretching over 110,000 sq ft, Banyan Tree Residences project will house a  residents-only Clubhouse & Spa with key features including a state-of-the-art fitness centre, an authentic Banyan Tree spa experience, saunas, a squash court, and an expansive indoor children’s play area.

Outdoors, the residents will enjoy a 31-m resort-style swimming pool, a children’s pool, a children’s play area, and a poolside café, all set along the extensive outdoor green spaces with lush landscaping, said the company in a statement.

Concierge and 24-hour security will be provided, with Banyan Tree’s management ensuring their internationally-renowned levels of service and hospitality are offered to the residents, it added.-TradeArabia News Service



from Construction Realestate

Fam rolls out hitech property management system

Leading real estate brokerage fäm Properties has unveiled a new tech-driven property management system that will transform the way real estate agents and landlords communicate in the UAE and also help tenants resolve issues more quickly.

Devised by fäm Properties, it comprises an Oracle-based customer relationship management (CRM) system linked to an Android and iOS app, both developed by the company’s in-house tech design team.

The bespoke online platform, which can be individually tailored, considers maintenance fees, service charges, incoming rent and all other financial aspects to calculate actual ROI for landlords.

It gives landlords peace of mind by delivering real time condition reports, budget forecasting and showing actual return on investment (ROI) for individual properties through a unique online platform.

Also the new system will be a boon to tenants, who often get frustrated over delayed response to urgent maintenance problems. It comes with an instant communications channel to resolve domestic issues like AC breakdowns, plumbing leaks and electrical failures.

“The objective is to take property management services to a new level, using technology to make it much faster, easier and more effective for real estate agents, landlords and tenants to talk to each other,” remarked its CEO Firas Al Msaddi.

“This is another first for the Dubai property market, and we feel it’s particularly important in the current economic climate to adopt an innovative approach to real estate overall,” he added.

Having last month launched a sophisticated market analysis tool providing real-time insights into Dubai property trends, fäm Properties believes its new property management offering will help dispel negative attitudes towards real estate agents in the UAE market.  

The new system has paperless access to all documents for each property and can receive detailed monthly, bi-annual or annual reports, and avoid time-consuming hassle of calls, emails and meetings with agents in the process.

"For investors, there’s a major advantage in being able to access real time data, speed of property manager response, photos, quotations, tenant’s satisfaction and actual ROI, as opposed to promises of 6, 7 or even 8 per cent returns and a subsequent delivery of different numbers due to lack of efficiency," remarked Ahmed Abou El Naga, the director of Asset Management for fäm Properties.

"By using the new Fixit app, which is linked to the online CRM platform, to upload information and images, tenants can instantly can bring urgent maintenance issues to the immediate attention of landlords and agents," stated Naga.

The obvious benefits of the app for the tenants are expected to boost occupancy rates for managed units, increasing profitability for landlords in the process, he added.-TradeArabia News Service



from Construction Realestate

Dubai Frame set to open in January

Dubai Frame, a 150-m-high, 93-m-wide structure built to resemble a huge picture frame at Zabeel Park offering views of both the historic and modern parts of the city, will be open to the public next month.

UAE Vice President, Prime Minister and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum, toured the award-winning cultural landmark ahead of the opening, reported state news agency Wam.

It has been designed by award-winning architect Fernando Donis, the name behind Dubai’s Porsche Design Towers, and the Dubai Renaissance Tower.

Sheikh Mohammed visited the ground floor museum of the building which showcases the UAE's history, heritage and the metropolis it has become.

He was accompanied by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, and Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and other senior officials.

Sheikh Mohammed then ascended one of the two towers, and crossed the 100-sq-m bridge where he viewed the historic and modern landmarks of the emirate.

The Dubai Frame is a 150-m-high, 93-m-wide structure built to resemble a huge picture frame, through which landmarks representing modern Dubai such as Emirates Towers and Burj Khalifa can be seen on one side, while from the other side, visitors can view older parts of the city such as Deira, Umm Harare and Karama, stated the report.

Lauding the project, Sheikh Mohammed said Dubai Frame was indeed an elegant architectural feat, it added.

He also praised Dubai Municipality's efforts to "achieve this cultural and global attraction, that represents a solid development for the tourism industry in the UAE."



from Travel Tourism Hospitality

Dubai Frame set for January opening

Dubai Frame, a 150-m-high, 93-m-wide structure built to resemble a huge picture frame at Zabeel Park offering views of both the historic and modern parts of the city, will be open to the public next month.

UAE Vice President, Prime Minister and Ruler of Dubai HH Sheikh Mohammed bin Rashid Al Maktoum, toured the award-winning cultural landmark ahead of the opening, reported state news agency Wam.

It has been designed by award-winning architect Fernando Donis, the name behind Dubai’s Porsche Design Towers, and the Dubai Renaissance Tower.

Sheikh Mohammed visited the ground floor museum of the building which showcases the UAE's history, heritage and the metropolis it has become.

He was accompanied by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, and Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and other senior officials.

Sheikh Mohammed then ascended one of the two towers, and crossed the 100-sq-m bridge where he viewed the historic and modern landmarks of the emirate.

The Dubai Frame is a 150-m-high, 93-m-wide structure built to resemble a huge picture frame, through which landmarks representing modern Dubai such as Emirates Towers and Burj Khalifa can be seen on one side, while from the other side, visitors can view older parts of the city such as Deira, Umm Harare and Karama, stated the report.

Lauding the project, Sheikh Mohammed said Dubai Frame was indeed an elegant architectural feat, it added.

He also praised Dubai Municipality's efforts to "achieve this cultural and global attraction, that represents a solid development for the tourism industry in the UAE."



from Construction Realestate

Over 1,000 yachts to celebrate New Year in Dubai

The shores of Dubai will see more than 1,000 yachts gather for three days of celebration to bring in the New Year, said a report.

Organised by Dubai Maritime City Authority (DMCA), the ‘New Year’s Eve Yacht Gathering 2018’ will be launched with support from 12 public and private establishments including Dubai Police and Kleindienst Group, said a report in WAM.

"The New Year’s Eve Yacht Gathering will further enhance Dubai’s competitiveness on the world’s maritime tourism map. We now have more diversified tourism product offerings, and with bold initiatives like Sea Dubai we can expect more success and growth in 2018 and beyond," said Sultan bin Sulayem, DP World Group chairman and CEO and chairman of Ports, Customs and Free Zone Corporation.

Ali Al Daboos, executive director of Operations, DMCA, said: "New Year’s Eve Yacht Gathering 2018 is an important addition to ongoing initiatives for enhancing Dubai's position as a world-class destination for New Year’s Day celebrations. This is an excellent initiative aimed at delivering a unique three-day experience spanning the Burj Al Arab up to the Palm Jumeirah. It is in line with relentless efforts to accelerate the growth of the marine leisure sector as a key pillar for consolidating the leadership of the local maritime community as one of the most competitive and attractive in the world."

The New Year’s Eve Yacht Gathering 2018 is scheduled to take place from 11am to 2am from December 29 to 31.



from Travel Tourism Hospitality

New sales head for Kuwait Marriott Hotels

Kuwait Marriott Hotels has appointed Samer Gerges as the new cluster director of sales and marketing.

Gerges brings with him over 10 years of sales experience in the hospitality industry. His extensive experience enabled him to develop great leadership skills and the ability to form high-performing teams that deliver exceptional business results.

Gerges is no stranger to Marriott Hotels, having held many positions within the company, including cluster sales manager and cluster director of sales at Marriott Hotels in Kuwait, where he was fully in charge of managing all proactive and reactive sales teams, and putting together strategies to drive more business and revenues.

Gerges has dedicated his time to provide guidance to his team, establish great relationships with stakeholders and customers, and has supported the positioning of Marriott hotels in Kuwait, which has led to a tremendous increase in Revpar and yearly revenues.

In his new role, Gerges will oversee all sales, marketing and reservations activities while developing business strategies that drive more revenues, growth and exceed the business goals.

Throughout his career with Marriott, Gerges has received various sales and marketing accolades for his outstanding performance, including the Presidents Circle in 2013, Chairman’s Circle in 2016 and he has also been awarded the Mustang Manager of Kuwait Marriott Hotels in 2012 and 2015.
 
Commenting on Gerges’s appointment, cluster general manager George Aoun said: “On behalf of the management and associates of Kuwait Marriott Hotels, I would like to congratulate Samer on his new promotion. Under his leadership, I am confident that Kuwait Marriott Hotels will bring new heights to market positioning and guest satisfaction." - TradeArabia News Service
 



from Travel Tourism Hospitality

Contractors 'must add VAT on Saudi govt deals'

All companies which are working on contracts with government departments in Saudi Arabia need to modify their bills to include the 5 per cent VAT (value-added tax), said a report citing a senior official.

The investors in the contracting and real estate sector have all been updated on this, remarked Hamoud Al Harbi, the project manager of VAT at General Authority of Zakat and Tax (GAZT).

"We have informed contractors that any supplier who issues an invoice or receives consideration before January 1, 2018 but the actual supply of goods or services takes place on or after the date must charge VAT based on the actual date of the supply," stated Al Harbi while speaking to Saudi Gazette on the sidelines of a VAT workshop.

"Since construction services are a continuous process, then VAT is due at the earlier of the due date or the actual payment and VAT becomes due for each progress payment at the earliest of the issue of the invoice or the date of actual payment," he said.

"All contracts that were signed without factoring in VAT rate may have zero VAT under three conditions: the contracts must be in effect before May 31, 2017, the customer should be entitled to deduce input tax in respect of the supply of goods and services and finally, the customer provides a written certification to the supplier that input tax can be deducted or refunded in full," explained Al Harbi.

Under the new rules, companies must also provide financial reports every three months, failing which they will incur fines, stated the Saudi Gazette report.

On the fines, Al Harbi said: "It ranges from SR10,000 to SR100,000 for violations such as not being registered in the VAT, providing fake financial reports, not saving financial documents, not paying the VAT rate and not being co-operative with VAT officials."

However, the official said, taxpayers have the right to appeal against decisions of penalties issued by GAZT within 30 days of the date of notification.

"If taxpayers disagree with the decision issued by the VAT First Instance Committee, an extra 30 days will be given to present an appeal to the VAT Appeals Committee. This committee will issue a decision that shall be final and non-appealable before any other judicial authority," he added.



from Construction Realestate

Tuesday, December 26, 2017

Araco set to oversee construction of new Dubai hotel

Abdul Rahim Architectural Consultants (Araco), a leading engineering consultant in the UAE, will begin its supervisory role on the construction of an approved hospitality project in Dubai’s Business Bay, work on which has just started.

The four-star hotel, which is designed to meet standards and classifications outlined by the Dubai Department of Tourism and Commerce Marketing, will be one of the newest hospitality projects in the city’s buoyant and growing tourism and travel sectors.

At present, Dubai accounts for 30.3 per cent of hotel rooms or hotel keys in development, which translates to 29,200 keys at the end of October 2017 according to a recent report by STR — a data benchmarking, analytics, and marketplace insights company for the global hospitality industry. This figure is the highest for the Middle East and North Africa (Mena) region outpacing Saudi Arabia, and spread across 95 hotel projects in Dubai over the coming years.

The frenzied development of new hospitality projects should be understood in the context of the UAE’s projected growth in the tourism and travel industry for the next decade which outpaces the 4 per cent expected in the global sector. According to the World Travel and Tourism Council, the growth of the tourism sector in UAE at CAGR of 5is expected to reach over Dh260 billion by 2027. As a factor of the UAE’s GDP, the tourism and travel sector will make up 12.4 per cent boding well for the country’s ongoing economic diversification strategies.

“Over the years we have been involved in many hospitality projects working for renowned brands, operators, owners, and construction companies. This time round as well, we are happy to be working with our counterparts in providing more choices and opportunities in Dubai’s strong hospitality sector,” commented Bader Abu Shaaban, head of Business Development, Araco.

Construction on the new hospitality project is set to begin this month with expected completion in 21 months. The hotel will add a further 228 rooms, and 16 suites to Dubai’s hospitality sector. The total built up area is anticipated at 235,000 sq ft across the 17-floor hotel which will also consist of one basement, the ground floor, and 2 parking floors. – TradeArabia News Service



from Travel Tourism Hospitality

Arenco Real Estate wins excellence award

Dubai-based Arenco Real Estate, part of A A Al Moosa Enterprises, was honoured as the Iconic Real Estate Company of the Year 2017 by the Middle East Excellence Awards Institute.

The award was handed to the team by Marwan Ahmed Bin Ghalita, CEO of the Real Estate Regulatory Agency (RERA) during a property summit held at Burj Al Arab where Arenco was selected amongst the GCC’s Top 25 Property Development Executive Leaders.

Arenco was recognised for its outstanding contribution to the UAE’s real estate sector for more than 40 years.

Mohammad Khoori, director, Arenco Real Estate said: “Arenco Real Estate has set the standard of excellent services and built its reputation for superior quality since its foundation in 1975, and we are honoured of being ranked among the nine property developments which were only selected and met the standards of the Top 25 Property Development Executive Leaders award. This award is a testament to the skill, ingenuity, and vision of Arenco Real Estate creators.”

Arenco Real Estate has a vast inventory of apartment units, offices and showrooms, villas, warehouses and buildings for staff accommodation across Dubai. Arenco also owns prestigious hotel names in the region which are managed by Hilton, Starwood, Marriott, Taj, Wyndham and IHG. – TradeArabia News Service



from Construction Realestate

Danube awards Dubailand residential project contract

Danube Properties, a Dubai-based property developer, has awarded a Dh221-million ($60.1 million) contract to Naresco Contracting for the construction of its residential project, Miraclz Tower, located near Miracle Gardens at Arjan district of Dubailand that will host 599 units including 591 apartments.

Owned by Abdulla Abdulkarim Al Arif, Naresco Contracting has been in the construction industry since 1986.

A member of Abdulla Al Arif Investment, Naresco is now in the process of completing Glitz Residence 3 for Danube which is getting ready for handover in a few weeks’ time.

As per the contract, Naresco will deliver the project delivered by the end of 2019.

Danube Properties, part of Dubai-based diversified conglomerate Danube Group, has launched nine residential projects, of which two have been delivered, two are getting ready for delivery while four others are at various stages of construction and one in tendering stage.

The Dubai developer had awarded five construction-related contracts worth more than Dh381 million  in 2017 – a year it started delivering homes – part of the Dh2.84 billion portfolio.

Besides the Naresco contract, Danube has also awarded a Dh146 million contract to Dubai Walls Construction for the main construction package for the Resortz project. The 17-month contract will see the project gets ready for occupancy by the second quarter of 2019.

Resortz will host 444 units including 419 apartments, 25 retail outlets, landscaped environment that appears more like a five-star resort, than a residential compound, said the developer in a statement.

Prior to that, Danube Properties has awarded a Dh10 million piling and shoring contract to Atlas Foundation for Miraclz Tower and a further Dh4 million piling and shoring contract for Resortz project.

Atif Rahman, the director and partner of Danube Properties, said: "These construction contracts reflects our deep commitment to our largest stakeholders – our valuable property buyers and investors – who have put their trust and hard-earned life savings in our projects to receive the keys to their dream homes."

"Since launching its first project in 2014, Danube has been able to deliver two projects involving 302 residential units, worth Dh270 million – part of the company’s Dh2.84 billion-strong portfolio. In the next few weeks, we are preparing to deliver 525 residential units, including 171 townhouses and 354 apartments," he added.-TradeArabia News Service



from Construction Realestate

Al Forsan leases out 95pc of staff accommodation

UAE-based Al Forsan Real Estate (AFRE) has announced that almost all of its villas and more than two-thirds of its apartments meant for employee accommodation in Abu Dhabi have been leased out.

The property arm of Al Forsan Holding, AFRE had launched its fully-furnished employee accommodation facility within its flagship - Al Forsan International Sports Resort.

The organisation develops mixed-use communities that support active lifestyle through the integration of world class sporting facilities.

From the start of the newyear, the studio apartments would be leased at Dh35,000 ($9,530) per annum inclusive of electricity, water and air conditioning charges, said the company in a statement.

AFRE developed the employee accommodation facility in a bid to fortify its position as a diversified development company. This particular venture proved highly successful when 21 out of 22 villas were promptly leased within few months of its launch, it stated.

The facility also comprises six buildings with studio apartments, of which four are completely leased out. Only 158 more studio apartments within building 3 and 4 are available for leasing, it added.

Rashed Al Qubaisi, the general manager of Al Forsan Holding, said: "The employee accommodation project was entirely different from any of our previous developments."

"We sought out to provide safe, secure and hassle-free living environment to the employees of various organisations in and around the Khalifa City area and looking at our occupancy rates, we believe we have nearly accomplished what we were set out for. Among our residents, are present employees from the aviation and hospitality industry that includes restaurants and cafes," he added.

Al Forsan Village, located within Khalifa City 'A' area of Abu Dhabi, includes 440 units of one- to four-bedroom apartments spread across 241,985 sq m. Health and luxury underpin the Al Forsan Village lifestyle for stakeholders.

Spread across 15,000 sq m, Al Forsan Village Town Square, the retail and leisure destination embedded within the project, is also home to several community-focused brands.

Most of the renowned retail stores such as Spinneys, Holland & Barrett, Tilia Flowers, illy café, Just Kidding, Street9 Café, Cheeky Monkeys, Coffee Club, Champion Cleaners, Oregano Café, Physiomins among several others are already operational. The retail community has close to 17 stores to address the needs of the residents, stated Al Qubaisi.

Since the employee accommodation facilities lie within the Al Forsan International Sports Resort, the residents are provided with the unique opportunity to benefit from the various activities available at the venue, he noted.

They get to enjoy various sports such as football, kart racing, horse riding, wakeboarding, shooting among others. All the facilities are available for the residents at corporate membership rates.

This is a unique approach to ensure that an organization’s human capital is healthy and productive at the same time, added Al Qubaisi.-TradeArabia News Service



from Construction Realestate

Oman tourism revenues exceed $3.1bn

Oman's tourism revenues exceeded RO1.2 billion ($3.1 billion) at the end of last year, with a large share of the revenues coming from local tourism.

According to the Tourism Statistics Bulletin issued by the Omani National Centre for Statistics and Information, local tourism accounted for 73.5 per cent (RO 882.5 million/$2.28 billion) of the total revenue while foreign tourists contributed 26.5 per cent of the total revenue, equal to RO319 million ($827.6 million).

"The total tourist spending in 2016 increased by 10.3 per cent to reach RO319 million compared to RO289 million ($749.8 million) at the end of 2015," the report said.

"The average expenditure of tourists during the last year was RO101.21 ($262.5) and the outbound tourism expenditure increased to RO490 million ($1.2 billion) and domestic tourism to RO882.4 million ($2.28 billion)," it said.

The number of incoming tourists to the sultanate increased by nearly 40 per cent every five years. The number of incoming tourists stood at 1.1 million tourists in 2005, increasing to 1.5 million in 2010 and then to 3.2 million in 2016.

Visiting relatives and friends (41.9 per cent) topped the list of the main purpose of tourism, followed by recreation (33.5 per cent) and work trip (17.7 per cent). - TradeArabia News Service



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