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Unigaz Oman signs BOT contract of Barka Marina Project with Al Siyabi Group

On December 12, 2019, Unigaz Oman have signed BOT contract of Barka Marina Project with Al Siyabi Group.

Barka Marina is one of the promising waterfront projects to be developed by the private sector in the Sultanate of Oman at an investment cost of RO55 million, which is equivalent to $130 million.

Salem bin Ali Siyabi, chairman, the board of directors of Al Siyabi Group, the lead investors for the project, said, “The project will be spread over 115, 200 sqm with construction to take place on 105,000 sqm of land. The leasable area is 40,000 sqm offering 440 commercial units.” He also said, “We are delighted to have Unigaz Oman as a major part of this project, and we are looking forward to having a sustainable working relationship with the company.”

Moreover, Eng. Bassem Attar, Operations Manager of Unigaz Oman, said, “We are optimistic about the deployment of PPP, build-operate-transfer (BOT) and similar contract “innovations” in Oman. Therefore, we have taken a direction to focus on such projects in the upcoming period because they have significant potential in the sultanate.” He also added, “The Barka Marina project is a major milestone for the continuing success of Unigaz Oman and we look forward to being part of it.”

According to Al-Siyabi, the project will be opened in three stages, with Stages 1 and 2 being scheduled for Q1 2020, and Stage 3 by 2022. It will provide 2,000 jobs on completion.

Al-Siyabi added that the project will include a tourist resort that will feature a 185-key five-star hotel, hotel apartments, rooms, and chalets.