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The Wave Muscat in growth mode, announces workforce expansion across departments

Oman: Monday, March 30 - 2009 at 11:08
PRESS RELEASE

The Wave Muscat, Oman's $2.5bn mixed-use beachfront development is bucking the global economic and real estate industry downturns with the announcement of a workforce expansion across its portfolio.

With its first hundred villas delivered earlier this year, The Wave Muscat is moving steadily ahead with its plans to deliver luxury apartments and town homes, leisure and retail components on schedule. The company has identified at least 27 immediate new openings across its functions to propel growth.

Nick Smith, CEO, The Wave, said:

"The Wave's resilience and growth in difficult conditions is a measure of the confidence in its offering from investors across Oman and the GCC. We are proud to make this contribution to the Oman community, and look forward to securing the best available talent to strengthen our operations."

The downturn, he added, is a signal opportunity for carefully considered development projects like The Wave to boost resources and improve efficiency.

More than 700 homes are currently under construction at The Wave, Muscat, with 300 scheduled for delivery in Q4 2009. More than 5,000 men and women currently staff the company's operations, including Omani nationals.

Abdullah Al Shidi, Deputy CEO, The Wave, Muscat, praised the company's staff for driving the company forward and ensuring quality and timely delivery and service.

"The Wave is driven by the greatness of its people, Omani nationals and expatriates, who work together to deliver this outstanding project because they believe in its significance for the economy and its quality."

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Related site: http://www.thewavemuscat.com

Notes and media contacts

About The Wave, Muscat
The Wave, Muscat is the first 100% freehold development in Oman and a unique public-private venture valued at $2.5bn. A world-class mixed-use community spread along 6km of natural beach, The Wave, Muscat will comprise Oman's first links golf course, designed by Greg Norman; a 300-berth marina; modern and spacious apartments and townhouses; water, beach and garden-view villas; and three luxury hotels.

The Wave, Muscat, is being developed through a joint venture comprising Oman's Waterfront Investments (representing the Government of the Sultanate of Oman), National Investment Funds Company (representing Omani Pension Funds), and the UAE-based Majid Al Futtaim Group.

For More Information, please call:
Khalid Masoud Al Jadidi
Media Relations
Ph: +968 24534656
Fax: +968 24534401
Mobile: + 968 99739893

Media Inquiries:
Shaddad Al Musalmy
ASDA'A Burson-Marsteller
Oman, Muscat
Tel: +968 24562762
Fax: +968 24562763

Posted by Nadeen El Ajou
Monday, March 30 - 2009 at 11:08 UAE local time (GMT+4)

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The Wave Muscat in growth mode, announces workforce expansion across departments

The Wave Muscat, Oman's $2.5bn mixed-use beachfront development is bucking the global economic and real estate industry downturns with the announcement of a workforce expansion across its portfolio.

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