Solid response to pre-qualification tender for the Wave

This is the money needed to invest into reclaiming land, putting down the infrastructure, and building a green golf course and a marina with an international yacht club on the existing 200 hectares of beachfront property just north of Seeb International Airport where The Wave shall rise.

"Now, with our deadline passed, we have received an exciting number of bids from local companies, some forming a consortium with international partners, who want to participate in the first stage of developing The Wave." stated HE Eng Abdulla bin Abbas bin Ahmed, Chairman of Muscat Municipality and Chairman of the Founding Committee of Oman Tourism Development Company (OTDC), the public company charged with promoting this integrated resort project. "There is strong Omani interest in taking part in The Wave," His Excellency announced.

"Once the first stage is finished, there will be further investment opportunities for local companies in the second phase," Wael al-Lawati Acting CEO of OTDC confirmed. "The hotels, villas, upscale apartment buildings, shops, restaurants and other leisure and entertainment facilities of The Wave all provide unique ideas for interested companies to participate in making this vision of a luxury resort concrete reality and which will be built in the second stage. We expect many more local companies to avail themselves of these opportunities." Another investment of RO 187 million will be spent during this second stage.

Right now, the bids by potential local stage one developers will be evaluated by OTDC and CII Group ME Strategy Consultants who have been assisting the Government of Oman in looking for a strategic investment partner in The Wave. "The ultimate challenge is to find the best-match partners for Oman's most ambitious tourist project so far," confirmed Glen Osmond, Managing Partner of CII Group ME. "We are looking for a strategic partner who brings the expertise and the commitment to launching this project that will make it a resounding success."

After the local bids for pre-qualification have been evaluated based on pre-established comprehensive scoring criteria, the bidders will be invited to submit a full proposal for developing stage one of The Wave if they become pre-qualified at this stage. "Development of The Wave is an ongoing process offering a full variety of investment and business opportunities to Omani and international companies," declared Al-Lawati "We are certain of the manifold benefits of The Wave for our community, and are excited at every step towards realizing our vision."

The impressive local interest is matched by an overwhelming response at the regional and international levels where major players are preparing to submit shortly detailed proposals of how they can play a role in this exciting project.