ALARGAN TOWELL Participates as Platinum Sponsor for Oman Real Estate Conference
ALARGAN TOWELL Investment Company, Oman’s leading real estate developer, announced its participation as a platinum sponsor for the third edition of the Oman Real Estate Conference. The conference was organised by the Oman Real Estate Association (OREA) at the Grand Millennium Muscat on 15 and 16 May. The conference, which reviewed opportunities and solutions to the challenges in the Sultanate’s real estate sector, was attended by senior officials from concerned ministries as well as those from public and private sectors’ institutions together with real estate experts and stakeholders. ALARGAN TOWELL participated in the conference with a paper presented by Eng. Hisham Moussa, the Chief Executive Officer of ALARGAN TOWELL Investment. He also participated in a panel discussion as part of the agenda and in a preparatory work group for the conference that included all governmental bodies related to the real estate sector. The company also participated in the exhibition accompanying the conference. Commenting on the importance of participating in such conferences and exhibitions, Hisham Moussa commented, “The real estate conference organised by OREA for the third time is one of the most important events taking place in real estate sector in the Sultanate this year; especially so with the active participation of the Directorate General for Real Estate Development and officials from all relevant government bodies. Furthermore, the conference saw the participation of distinguished experts in the real estate sector, both local and international, who addressed topics of great importance, providing significant recommendations which will certainly contribute towards the development of the real estate sector in the Sultanate. The conference also provided us with an opportunity to showcase prominent investment opportunities available in our projects to the exhibition visitors as well as closely identify the needs of the market by obtaining their valuable feedback.” The Conference participants came up with a number of important recommendations that could contribute towards enhancing the confidence of investors in the real estate sector as well as to enhance the performance of the sector and its employees. They also called for the need to create a clear vision to meet the growing demand for housing in the Sultanate. Hisham Moussa discussed in his paper titled ‘Optimism Oman’, a number of important themes, most notably the general climate of investment in the Sultanate. He pointed out that the country has the necessary elements to attract foreign investment such as political and social stability. He also touched upon the positive effect of the Sultanate’s focus on economic diversification and the continued commitment of the government to spend on large infrastructure projects and more. Hisham also focused on the positive impact of population growth on the economy and its impact on the increasing demand for real estate. In addition, he pointed out link between the growth of the tourism sector and the increased activity in a range of other sectors, and especially real estate. He discussed the available solutions to overcome challenges faced by the real estate sector; including simplifying procedures and increasing coordination between different government bodies and designating a singular body that deals with real estate developers and investors. This will contribute towards improving the Sultanate’s transparency and competitiveness in the real estate sector, which in turn will contribute in attracting foreign investments. He further pointed out that properly defining the relationships between the various parties involved in the real estate sector in terms of rights and duties, would help raise performance levels and enhance the efficiency of the sector, making it more attractive to investors. Commenting on the importance of participating as a platinum sponsor for the Oman Real Estate Conference, Abeer Al Balushi, Head of Marketing at ALARGAN TOWELL Investment Company noted, “We are proud to be part of this important event, as we recognise the vital impact such conferences and exhibitions have in the development of the real estate sector and in attracting investments. We also recognise the importance of supporting organisations such as OREA, who play a prominent role in the development of the real estate sector in the Sultanate.” ALARGAN TOWELL Investment Company also showcased, at the exhibition, its most important current and future projects, as well as prominent investment opportunities currently available in the company's projects; such as the Al Waha project, the second phase of which was launched late last year, as well as the Beyout Al Faye project and AlNakheel project. ALARGAN TOWELL INVESTMENT COMPANY was founded in 2003 in the Sultanate of Oman as a result of the strategic alliance between ALARGAN International Real Estate Company and the reputed WJ Towell. ALARGAN TOWELL activities focus on the creation of quality yet affordable housing opportunities for Omanis in the middle-income bracket. This innovative partnership led to the construction of a number of successful and integrated projects, such as Beyout Al Faye, the Al Waha project, the Al Mawalih Villa’s project, the Al Hail homes project, and the Al Qurum Gardens project. Additionally, the Company is currently in the preparation stages for the AlNakheel mega development project, which is expected to be the first Integrated Tourism Complex (ITC) project in the Wilayat of Barka. As a direct result of their many successes, ALARGAN TOWELL has received numerous international, regional and local awards. Most recently, they received ‘The Affordable Housing Project of the year 2016’, from Oman Real Estate Association. The award was given to ALARGAN for Al-Waha project in Barka. The company also had received the Best Developer Award for Residential Neighbourhoods at the Oman Real Estate Awards, 2015. Additionally, the AlNakheel project was Highly Commended at the prominent regional real estate development awards, the Arabian Property Awards, in Dubai, 2015.
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