LUXURY REAL ESTATE AND HOTEL VENTURE UNVEILED AT BARKA

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The Malkai, an exclusive real estate and hotel development planned at Barka, was launched here yesterday, further reinforcing Oman's growing appeal as a world-class lifestyle destination. The project, scheduled to be completed by end-2010, is being developed by Al Maeen Real Estate Services Co LLC with an investment of around $250 million. Designed as an exclusive community, the development will comprise of 101 four-bedroom villas and 92 two-bedroom suites, as well as a boutique hotel offering 41 luxury suites.


"The Malkai will set a new benchmark in luxury living not only in Oman but also in the region," Pankaj Khimji, prominent Omani investor and a key partner in the venture, said. "It will comprise a Country Club and Residences that will compare to some of the finest in the world. The Malkai is making a statement both in lifestyle and in architecture," he stated at a press briefing to announce the launch of the project yesterday.


Designated an Integrated Tourism Complex by the Ministry of Tourism, The Malkai will offer its luxury villas and suites for sale on a freehold basis. Coinciding with the unveiling of the venture, the promoters also announced the launch of a limited number of four-bedroom villas, which are being offered in the price range of $3.6-4 million apiece. Further launches are planned during the course of the next 12 months, although these would be priced higher based on market demand.


Already, some of the world's best known names in luxury residential and hotel ventures have been signed up by the promoters. The master plan and lead design have been carried out by AW2 Paris. Internationally acclaimed designers Jaya and Associates will provide the interior design for all the villas and suites. All the villas will be fully furnished and landscaped, with large swimming pools to boot, before being offered for sale.


At the heart of the venture is an executive nine-hole golf course designed by the renowned Gary Player, the South African professional golfer hailed as one of greatest players in the game's history. Player has so far designed some 300 golf courses around the world. Speaking at the press briefing, Player said the golf course would be a major tourist draw, as well as help to motivate local interest in the game. "Golf courses make great contributions to society. It'll be a great dream for me to see Oman produce a young Tiger Woods someday," he commented.


Other facilities planned as part of The Malkai development include a serviced spa designed as a vast walled water garden, clubhouse, two restaurants, a boutique, delicatessen, a kid's club, and tennis courts. Significantly, The Malkai will be operated by General Hotel Management Ltd (GHM), the Singapore based chain that runs a string of award-winning properties around the world, including The Chedi, Muscat. GHM's management style bears the unmistakable imprint of legendary hotelier Adrian Zecha.


International chartered surveyors and property consultants Cluttons will manage property sales for The Malkai. Alex Upson of Cluttons said The Malkai properties are expected to attract interest from among mainly GCC and North European buyers. As an integrated tourism complex, The Malkai (www.themalkai.com) properties are also open for sale to foreigners.