Dh110m residential villa project in Oman sold out

Eqarat.com, a real estate solution provider in Dubai, said yesterday it has sold out Al Balushi Investments' Dh110 million Mayar Al Khoudh residential villa project in Oman.

"We have sold all the 58 villas for an average price of OMR220,000 (Dh2 million) per villa," said Ali Al Rahma, Chief Executive of Eqarat.com, the exclusive sales and marketing agents for the project. The project comprises 58 villas in the Mayar Al Khoudh area in Muscat and is due for completion in 2010.

"To drive the sales of the project, we developed a targeted marketing strategy to further reiterate the outstanding investment potential of Mayar Al Khoudh to buyers and investors seeking to purchase luxury residential villas for both personal use and investment purposes. Our intensive marketing plan also included high-impact advertising and PR activities, in addition to a major customer launch as part of our value-added services," he said.

Mayar Al Khoudh occupies an area of 23,029 square metres with a built-up area for each villa ranging from 288 to 363 square metres. The project will feature four different villa designs each spanning 230 to 347 square metres.

Dubarch, a Dubai-based architectural engineering firm, in association with Azri Consultancy, has designed the villas, which will be constructed by Al Rawahi International.

"The construction of this project is proceeding as scheduled, and our partnership with a leading real estate solutions provider such as Eqarat.com has already resulted in the sell-out of the project," said Hussain Habib, Managing Director, Al Balushi Investment.

Eqarat.com has also signed up as exclusive sales agents for the Dh420 million project, Ryad Al Sawadi, a Marrakech-inspired community project being developed by Arabian Gulf Gate Investments.

Follow Emirates 24|7 on Google News.