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The signing of the agreement combines the strength of Kempinski's experience in developing and managing luxury hotel developments with The Wave, Muscat's commitment to set the standards in luxury real estate development in Oman.
HE Eng. Abdulla Bin Abbas Bin Ahmed, Chairman of the Board of Directors at The Wave, Muscat and Mr. Reto Wittwer, President and CEO, Kempinski Hotels signed the agreement.
The ceremony was attended by senior officials from The Wave, Muscat and Kempinski Hotels.
Together Kempinski and The Wave, Muscat will use all their expertise to ensure delivery of a world class product, synonymous with both brands and this Agreement reinforces the commitment from both parties to make this project a resounding success.
Nick Smith, CEO, The Wave, Muscat said:
"I am delighted to be welcoming Kempinski to The Wave, Muscat. As a leading global luxury hotel management company, the expertise and commitment which Kempinski brings will guarantee a new and exciting addition to Omani hospitality. The facilities provided by Kempinski will be of the highest standards and their presence will enrich not only the lives of the residents of The Wave, Muscat but also of the residents of Muscat itself."
In his comments, Mr. Reto Wittwer, President and CEO, Kempinski Hotels, said, "The Wave, Muscat represents Kempinski's entry into Oman and we are thrilled to be part of this distinguished and cosmopolitan development. At Kempinski we are very discerning about the properties we add to our portfolio and we feel our presence within this unique development will further reinforce our expansion plans in the Middle East. Oman is well on the way to become the next fashionable destination, with vast potential in terms of tourism growth and a defining strategy geared towards the niche and upper end of the market. With the added attraction of Oman's rich cultural heritage and breathtaking scenery, we anticipate a great deal of interest in this stunning new Kempinski property in The Wave, Muscat".
The Wave, Muscat has received 5 prestigious international and regional design awards in 2007 from CNBC Arabian Properties and Homes Overseas.
From CNBC Arabian Properties The Wave, Muscat received 4 awards for Best Development Design, Best Marina Design, Best Apartment Design, Best Golf Course Design.
Homes Overseas Awarded The Wave, Muscat the Best Luxury Development award.
The Wave, Muscat's innovative vision offers a multi-cultural community which provides an amenities-rich lifestyle and freehold opportunity never before seen within the Sultanate of Oman.
It has proven to be the first choice for many investors, both locally and internationally, The integration of a beach front location, landscaped parkland and waterways, together with a marina, 18 hole signature golf course, luxury hotels and retail centers continues to attract home buyers from many different nationalities.
The Wave, Muscat, is a joint venture between Oman's Waterfront Investments, National Investment Funds Company and UAE based Majid Al Futtaim Group.
Posted by Eman Hassan
