Dubai - Mubasher: Damac International announced that it has been chosen by the government of Oman to develop its Port Sultan Qaboos into a world-class, waterfront mix use destination through a joint venture with Omran, the government’s investment, growth, and development arm.

According to the company’s press release, Mina Sultan Qaboos Waterfront is being redeveloped into a $1 billion integrated tourist port and lifestyle destination that includes hotels, residences, as well as a dining, retail, and leisure offering.

A Memorandum of Understanding (MoU) was signed by the chairman of Damac Properties, Hussain Sajwani, and the Omani minister of commerce and industry, Ali bin Masoud Al Sunaidy, who is also the chairman of Omran.