Post on 24-Mar-2018
transcript
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MINA SULTAN QABOOS WATERFRONT INVESTOR OPPORTUNITIES
“Port Sultan Qaboos will be converted from a commercial port to a fully
integrated tourist port. All commercial import, export, general cargo
and container activities will be shifted to Sohar Industrial Port”
~ Royal Directive from His Majesty Sultan Qaboos bin Said (July 2011)
HIS MAJESTY SULTAN QABOOS BIN SAID
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AN INVESTMENT OPPORTUNITY LIKE NO OTHER
Inaugurated in 1974, Port Sultan Qaboos, was the first commercial port in the Sultanate of Oman. In 2011, His Majesty Sultan Qaboos bin Said issued directives to transfer the
commercial activities of Port Sultan Qaboos to Port Sohar and convert Port Sultan Qaboos into an integrated tourist port. Port Sultan Qaboos is located at the heart of Muttrah,
which originally was the centre of commerce in Muscat. Muttrah has one of the oldest traditional souks in the Arab world, with a history stretching back over 200 years and
is the most visited tourist destination in Oman.
Mina Sultan Qaboos will be re-developed as a high quality Waterfront Destination, over a number of development phases. This will enhance the historical area of Muttrah and
transform the Port Sultan Qaboos into the region’s no.1 Waterfront destination, whilst providing the public with greater access to the Waterfront by reintegrating the port
area with Muttrah and the city of Muscat.
Mina Sultan Qaboos Waterfront is a development without equal. It will serve as the gateway to Muscat. Centred around water, something perpetually valuable and precious,
Mina Sultan Qaboos Waterfront will redefine the experience of Muscat and provide investors with a significant opportunity to participate in a unique and unparalleled
marketplace offering. Mina Sultan Qaboos Waterfront is a regeneration initiative that aims to unite the Muscat of yesterday with the vision of Muscat tomorrow.
The transformation of Port Sultan Qaboos into a tourism based mixed use waterfront destination will provide a vibrant, active and high quality public realm to Muscat whilst
at the same time integrating with and enhancing the existing surrounding historical area of Muttrah. Mina Sultan Qaboos will be transformed into the region’s primary
waterfront destination, with a strong sense of ‘local Omani identity’. The project will blend traditional Omani heritage and aesthetics with modern technology, and focus on
sustainability and harmony with the environment. The project is envisioned as a pedestrian waterfront community with a mixed-use component that integrates the local
heritage and culture while creating a 21st century cosmopolitan feel.
Mina Sultan Qaboos Waterfront is the only strategically located project in Oman that will offer investors the opportunity to partner with the Government of the Sultanate of
Oman and in the process become land developers and realize capital gains from the development of the no.1 location in Oman. Mina Sultan Qaboos Waterfront project will
become the leading authentic Waterfront in the GCC.
CONTENTS
Introduction p2
The Vision p3
Key Fundamentals p4
Market Opportunities p5-6
Concept Plan p7-8
Development Zones p9-10
Proposed Corporate p11-12Activities
Case Study p13-14
Investment Opportunities p15
Information contained in this document is subject to change or
variation & subject to detail design. The artists renderings are
for illustrative purposes only and are subject to change without
notice.
Projected return on equity invested is around 15%. Photos sourced from the Ministry of Tourism. MUTTRAH
0403
THE VISION
• A world-class waterfront development of outstanding beauty and interest that
celebrates the maritime history of Muscat and showcases the very best of Omani
culture, heritage and innovation to a global audience.
• An exciting and vibrant year round tourism destination that is rich in activities,
entertainment and experiences and that quickly establishes itself as the No.1
visitor attraction in Oman.
• A lifestyle community that provides the population of Muscat a true “downtown
hub” and that serves as a catalyst for the broader regeneration of Muttrah.
• A platform for commercially successful business enterprise and a stimulus for
significant job creation.
Imagine a grand city on the sea, whose harbour welcomes the world.
KEY FUNDAMENTALS
100% UNIQUE DESTINATION• The opportunity to create a world-class waterfront development, upon the site of a former port, is completely unique within
Muscat and will ensure the project stands out within an increasingly competitive market.
A CLEAR MARKET GAP• Muscat does not currently benefit from a main downtown area where friends, families and associates can congregate
together and enjoy a wide range of restaurants, cafe’s, shops, museums, galleries, hotels etc - Mina Sultan Qaboos will fill
this void.
MULTIPLE INVESTMENT OPPORTUNITIES• The project will offer numerous investment opportunities and attractive returns at the holding company and the individual
asset level.
LOCATION & STUNNING NATURAL BEAUTY• Not only does the site benefit from a strategic location within the old heart of Muscat it also benefits from outstanding
natural beauty. The surrounding mountain landscape creates a stunning backdrop to complement the dramatic sea, marina
and fort views.
ECONOMIES OF SCALE• The sheer scale of the Port Sultan Qaboos development site offers the opportunity to develop a diverse range of attractions,
activities and real estate usages that will provide a strong competitive advantage.
The project will blend traditional Omani heritage and aesthetics with modern technology, and focus on sustainability and harmony with the environment.
LIVE. DINE. SHOP. WORK.
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MARKET OPPORTUNITY
TOURISM - A HIGH GROWTH MARKET• The tourism sector in Oman and specifically Muscat continues to enjoy robust growth. Tourism arrivals have grown by 9%
per annum since 2010 and Muscat hosts over 60% of all guest nights. As a key component of the Government’s economic
strategy, the tourism sector is underpinned by strong fundamentals.
• In recent years, the leading hotels in Muscat have shown strong performance in terms of occupancy, rate and RevPar.
However, much of the current stock is dated and behind modern day standards. The hotels in Mina Sultan Qaboos will offer a
variety of consumer experience unrivalled within the city.
MUSCAT REAL ESTATE MARKET - UNTAPPED POTENTIAL • The residential market in Muscat has shown steady growth over the last three years, with prices in premium locations
reaching close to peak levels of 2008. Mina Sultan Qaboos has the potential to become the most sought after waterfront
address in Muscat.
• Both the retail and office markets of Muscat are forecast to see sizable growth in supply over the coming years. In this
context offering a clear point of differentiation is key. The unique characteristics of the project site will ensure that the
shops, restaurants, cafes and offices of Mina Sultan Qaboos are fully differentiated.
Mina Sultan Qaboos is primed to become the No.1 tourism attraction in the country.
Muttrah has one of the oldest traditional souks in the Arab world, with a history stretching back over 200 years and is the most visited tourist destination in Oman.
• Inbound tourism up 9% per annum since 2010 (Source = WTTC 2015)
• Muscat hosts over 60% of all overnight stays
• Average expenditure per stay is $740
• GCC = 38% of tourists• Asia = 21% of tourists• Europe = 18% of tourists
• Passenger numbers through Muscat show 11% annual growth since 2002
• Leisure tourism = 34%• Business tourism = 19%• VFR = 40%
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RIYAMPARK
AL INSHIRAH
MUTTRAHFORT
LAYOUT (INCLUDING BUILDINGS) SUBJECT TO DESIGN - FOR ILLUSTRATION PURPOSES ONLY
MUTTRAHSOUK
SUR AL
LAWATIA
SHUTAIFYBAY
CRUISELINER
HARATAL SHAMAL
HAY ALMINA
JIBROOH
MUTTRAH
ILLUSTRATIVE CONCEPT PLAN (JUNE 2015) - MINA SULTAN QABOOS WATERFRONT
LEGEND :H. HOTELS1. MUTTRAH PUBLIC PROMENADE & TRAM2. MUTTRAH FISH SOUK3. FISHERMANS WHARF & CAR PARK4. ROYAL PRECINCT5. VARIOUS ATTRACTIONS6. WATERFRONT PUBLIC PLAZA7. MIXED USE / DESTINATION RETAIL8. PUBLIC PROMENADE9. SUPER YACHT MARINA (150 BERTHS )10. MOSQUE11. BANQUET 12. BEACH CLUB & BRANDED RESIDENCES
13. UTILITIES COMPOUND14. LEISURE, TENNIS CLUB & BRANDED RESIDENTIAL15. NFC, TUG, COASTGUARD, ROYAL NAVY BERTHS & ROP16. FUTURE DEVELOPMENT ZONES17. GRAIN SILOS18. FISHERMEN & DHOW BERTHS19. MIXED USE & BRANDED RESIDENTIAL / RETAIL20. ROP - CUSTOMS & IMMIGRATION21. RESTAURANT / CAFE22. HEALTH / WELLNESS SPA23. COMMUNITY FOOTBALL & CLUBHOUSE24. ROCK PARK & WALKWAY
CONCEPT PLAN
On the left, there are views from Port Sultan Qaboos and the
satellite image of the Port and Muttrah. On the right, there is the
concept master plan for the new waterfront. The plan combines
tradition and heritage, convenience, superb location, and exquisite
dining experiences, to make Mina Sultan Qaboos Waterfront a
vibrant must-see destination.
PORT SULTAN QABOOS
H. HOTELS
1. MUTTRAH PUBLIC PROMENADE
& TRAM
2. MUTTRAH FISH SOUK
3. FISHERMANS WHARF & CAR PARK
4. ROYAL PRECINCT
5. VARIOUS ATTRACTIONS
6. WATERFRONT PUBLIC PLAZA
7. MIXED USE / DESTINATION RETAIL
8. PUBLIC PROMENADE
9. SUPER YACHT MARINA
(150 BERTHS )
10. MOSQUE
11. BANQUET & SPA
12. BEACH CLUB & BRANDED
RESIDENCES
13. UTILITIES COMPOUND
14. LEISURE, TENNIS CLUB &
BRANDED RESIDENTIAL
15. NFC, TUG, COASTGUARD, ROYAL
NAVY BERTHS & ROP
16. FUTURE DEVELOPMENT ZONES
17. GRAIN SILOS
18. FISHERMEN & DHOW BERTHS
19. MIXED USE & BRANDED
RESIDENTIAL / RETAIL
20. ROP - CUSTOMS & IMMIGRATION
21. RESTAURANT / CAFE
22. HEALTH / WELLNESS SPA
23. COMMUNITY FOOTBALL &
CLUBHOUSE
24. ROCK PARK & WALKWAY
LEGEND
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CRUISE LINER BERTHS
FUTU
RE D
EVEL
OPM
ENT
MARINA BERTHS
FISHERMEN BERTHS
FISH SOUK
NFC, TUG ,COASTGUARD
& ROYAL NAVY BERTHS
HARAT ALSHAMAL
SUR ALLAWATIA
HAY ALMINA
MUTTRAHFORT
RIYAMPARK
MUTTRAH
HARAT AL
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MINA SULTAN QABOOS - WATERFRONT : DEVELOPMENT ZONES
ZONE: NAME :
1 A Fishermans Wharf
2 Resort Zone
3B Al Inshira Zone
4A Hay Al Mina
H Indicative Hotel Locations
4B Royal Zone
Utilities Zone
Future Development Zones
1 B Waterfront Heart
3A Cruise Zone
DEVELOPMENT ZONES
Embodied within Omani architecture are timeless aspects of proportion, robustness,
simplicity, ornament, and a local response to the hot climate and its intense daylight.
Mina Sultan Qaboos Waterfront will re-energise the core of Muttrah and Harat Al Shamal
and create a hub of activity, where people return once again to live, work, shop and spend
time with family and friends. A continuous pedestrian boardwalk will be developed along
the basin edge and high quality terraced public open spaces fronted by active, outward
facing, mixed use development.
ZONE 1 – WATERFRONT HEART
• Fisherman’s Wharf, Fish Souq
• 5 Star Marina Hotel
• 4 Star family hotel
• Hotel Operated Branded
residential apartments
• Starter apartments for first
time buyers
• Destination Shopping-
Waterside Restaurants &
Cafes, Boutiques, offices,
entertainment and cultural
facilities
• Super Yacht & Leisure Boat
Marina
• Buildings heights - 2 to 4
levels.
The destination shopping
experience will be Omani Style
Arabesque. Natural stone
corridors, high archways,
subdued lighting and arabesque
decors.
Alleyways will be lined with
various retail outlets - an
eclectic mix of authentic
handicrafts, jewelry, fashion
wear, perfumes, carpets,
furnishings, sports items,
books; dining, a department
store, several internationally
known flagship stores, as
well as a unique children’s
“edutainment” and the
conveniences of modern times
- from groceries to currency
exchange.
ZONE 4 - HAY AL MINA
• Economy/Budget Hotel
• First Time Buyers Starter
Homes
• Public facilities including a
local clinic
• Mixed use facilities including
local convenience shops,
football field and clubhouse
• Buildings heights - 2 to 8
levels.
ZONE 3 - CRUISE ZONE
• Upmarket design focused
retail experience
• Upscale boutique hotel
• Hotel operated Branded
residential apartments
• Buildings heights - 1 to 4
levels.
ZONE 2 - RESORT ZONE
• Upscale 5 Star Resort hotel
• 4 Star Resort hotel
• Conference & Banquet facility
• World Class Wellness Spa &
Residences
• Cafes & shops
• Beach Club & Residences
• Sports, tennis & leisure club
• Children’s Village
• Clusters of elegant hotel
branded townhouses and
apartments
• Buildings heights - 2 to 7
levels.
DEVELOPMENT ZONES
Mina Sultan Qaboos has received expressions of interest from the following hotel groups - Mandarin Oriental, Hyatt, Viceroy, Hilton, Taj, Banyan Tree, Chedi & Four Seasons to manage the hotels in the Waterfront.
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MINA SULTAN QABOOS
WATERFRONT COMPANY
Infrastructure, Common Areas
Master Community
Management
Home Owners Associations
Infrastructure Management
Service Charges
Management, Investment &
Finance
JV Management
Funding
Investment
Legal & Contractual
Procurement
Health & Safety
Omanisation
Human Resources
Economic & Social
Tourism Development
Arts & Culture
Stakeholder liason
Research-Trends & Forecast
Community Groups
Skills Training
SME Development
Operations
Retail Management
Marina Leasing & Management
Security Management
Cleaning and maintenance
services
Harbour Master Management (Port Services Corporation)
Cruise ship management
Business Development
Hotel Joint Ventures
Commercial Leasing
Retail & Food & Beverage Brands
Hotel Leasing
Tour Operator
Sales & Marketing
Sale of residential Property
Resales of Branded
Residential Property
Leasing of Retail & Food & Beverage
Outlets
Rental of Properties
Event management
Development
Master planning
Design Management
Development & Construction of
Properties
Development Control
Tenant Fit Out Coordination
Development Delivery Team-
Consultants
Enviromental Control
A project specific Waterfront
Development & Operations Company
will be established. The need for
establishing a private sector company
is based on the complex redevelopment
requirements of the site and to enable
private sector participation.
PROPOSED CORPORATE ACTIVITIES
Sound investment opportunities through promoting sustainability and economic diversification are key goals of Mina Sultan Qaboos Waterfront.
MINA SULTAN QABOOS
WATERFRONT COMPANY
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MUTTRAH SOUQ
MUTTRAH CORNICHE
ROYAL OPERA HOUSE
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Over the past thirty years some of the world’s most innovative real estate developments have taken place at waterfronts. From Boston, Baltimore, Vancouver and Toronto in North America, to Cardiff, London, Rotterdam and Barcelona in Europe, and Sydney, Melbourne, Singapore and Osaka in the Pacific Rim, waterfronts worldwide have become the new retail, leisure and entertainment destinations in port cities. Successful waterfront projects have re-established the rich cultural and historic links between land and water in many port and river cities across the globe.
To amplify the opportunity at Sultan Qaboos Port, detailed below are the key characteristics and data of V&A Cape Town Waterfront, which occupies the same area of land as Sultan Qaboos Port.
CASE STUDY - V & A WATERFRONT CAPE TOWN
• The V&A Waterfront has a mix of long-term high profile retail and business tenants
• 64% (383,833sqm) has been developed
• 36% (220,035sqm) available for development
• Approximately 45% of the area is allocated to residential development
• The old harbour in Cape Town was transformed over 10 years to become one of the worlds leading mixed- use waterfront developments
• Has become the local and tourist “heart” of Cape Town, linking the city to the waterfront
• 23 million visits per year-60% from Cape Town
• 19,000 people work at the waterfront on a daily basis
• 10 Hotels (Boutique, 5 star, 4 star & 3 star), including a One& Only Hotel
• 10 Hotels
• 450 retail shops
• 150 commercial tenants
• 80 restaurants & cafes
• 600 built and sold luxury apartments, townhouses & penthouses, with further under development
• 400 rental apartments and self-catering units
• 8,500 parking bays
• 22 Historical and cultural landmarks
• 20 leisure attractions
• 1 SME business incubator-Craft market
• 1 SME business incubator-Fresh & Organic Food market
• 200 Small business enterprise incubator stalls
• Extensive children’s entertainment & aquarium
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The opportunities include investing in the following elements of the project:
EQUITY INVESTMENT (FOUNDING SHAREHOLDERS) IN THE MINA SULTAN QABOOS WATERFRONT COMPANY
•
• Up to 49% of the Company will be made available.
INVESTMENT IN THE UNDERLYING ASSETS OF THE MINA SULTAN QABOOS WATERFRONT COMPANY:
• Joint venture investment in the Retail & entertainment assets
• Joint Venture investment in Hotels in the waterfront or outright acquisition of hotels plots: • Five Star Marina Hotel • Four Star family hotel • 5 Star Resort hotel • 4 Star Resort hotel • 5 Star Conference & Banqueting facility • 5 Star World Class Wellness Spa • 5 Star Upscale boutique hotel • 3 Star Economy/Budget Hotel
JOINT VENTURE INVESTMENT IN THE FOLLOWING POTENTIAL BUSINESS UNITS:
• Property Finance Company• Facility Management Company • Landscape & Cleaning Company• Insurance Company• Security Company• Waste Removal/Management Company• Cleaning Company• Property Management and Leasing Company
To register for information or to arrange an investor presentation please email:
investors@portsultanqaboos.com
INVESTMENT OPPORTUNITIES
MINA SULTAN QABOOS
WATERFRONT COMPANY
Other Service Companies
Joint Ventures
Strategic Investors-
Founding
Shareholders
Government of Sultanate of
Oman
49%51%
Development of Operation of Mina
Sultan Qaboos Waterfront
It is expected that share packages of around 2.5%-5% of the Company will be made available for sale. This will be carried out by a placement of shares in the new company. The Company will be formed to develop a mixed-use real estate offering, without equal.
SHAREHOLDING