Wednesday 20 February 2019

Kuwaiti developer eyes Oman housing project

KUWAIT, September 10, 2016

Al Mazaya Holding, a leading real estate development company in Kuwait, is set to invest in its second residential project in Oman, said a top official.

Mazaya Residences, a residential and commercial development, will boast of 300 residential units in various sizes and designs with prices starting from $98,000 onwards.

Strategically located in Mawaleh in Muscat, the project stands out as an attractive opportunity
for GCC residents looking for investment or housing, remarked Sheikh Mubarak Al Sabah, the director for marketing and sales at Al Mazaya Holding, on the sidelines of Cityscape Global in Dubai.

Through this project, we offer a modern residential community in Oman with landscaping and nature as well as amenities that include swimming pools, health clubs and tennis playgrounds.

The developer showcased its upcoming projects in Dubai, Muscat and Istanbul at the expo.

These include Q-Point, a major residential project in Dubailand, which consists of 52 buildings serving the middle-income group.

Spanning over a 150,000 sq ft area, the project boasts four residential buildings ranging in height from 9 to 14 floors.

Following the tremendous success in both building and marketing, Q-Line stands out as an attractive investment with rewarding ROI, stated Al Sabah.

He pointed out that Mazaya had established an excellent market presence over the last years, with a portfolio of completed and ongoing projects in the GCC region, particularly in Kuwait and the UAE.

According to him, the middle income housing has proven to be a big success as it caters to the needs of the largest demographic in the region.

Al Mazaya, he stated, was among the first developers to enter this market and supply affordable housing units.

"Today, we have options for small and large families, with apartments ranging from one- to three- bedrooms at prices from Dh650,000 to Dh999,000 ($176,916 to $271,906),” added Al Sabah.

Al Mazaya said it has many more investment opportunities in its existing markets, particularly the GCC and Turkey, and is studying many international markets for expansion, with the aim of generating larger returns for the interest of the company and its shareholders.-TradeArabia News Service

Tags: Kuwait | Al Mazaya | housing project |

More Construction & Real Estate Stories

calendarCalendar of Events