“Asyad (as Project Promoter) on behalf of Mwasalat (Project Employer) seeks proposals to select a developer to design, build, finance, operate a residential, commercial or mixed-use project on Mwasalat’s project site which is 54,104 sqm prime land in Al Athaiba, Muscat and transfer the project back to Mwasalat before 15-05-2068,” said the state-owned holding company in a tender document issued last week.
According to Asyad Group, the selected developer will have the option to “develop a residential, commercial or a mixed-use project on the land which may include retail shops, offices, mall, hypermarket, apartments, hotel etc or any other facility” on the land offered by Mwasalat. Additionally, the developer “may lease-out, sub-let or operate the facilities to recover its cost and earn profit throughout the agreement”. The developer may also assign individual facilities to different operators to operate and/or maintain.
Interested developers are required to submit options to house Asyad’s offices within the development of long-term lease. Likewise, proposals for constructing residential lodgings for Mwasalat employers nearby of the development should be included as well. Ownership of the Asyad offices and residential blocks will transfer to the respective clients upon the expiry of the tenure of the lease. Interested investors have until March 20, 2020, to submit their Expressions of Interest along with their corporate credentials.
Of late, Asyad has adopted the Public-Private-Partnership (PPP) model to secure private investment in the implementation of key office and other support infrastructure necessary to sustain its operations, as well as those of some of its subsidiaries, without having to turn to the government for its funding requirements.
Last November, the holding company invited private developers to invest and develop new complexes of its wholly-owned subsidiary, Oman Post, as part of mixed-use developments at key locations in Muscat Governorate. As many as five sites have so far been identified by Asyad to be leased to private investors for development under the Design, Build, Finance, Operate and Transfer (DBFOT) model for 25 years.
Source Link: www.omanobserver.om