Banyan Tree has signed a management contract with Jabal Resorts LLC for the development of two resorts within one of the largest integrated resort (IR) developments in Sifah, Oman.
The Banyan Tree and Angsana resorts are positioned as the anchor properties in the 650 hectare property which will include over five hotels, more than 450 villas and 500 apartments for sale, a marina town, retail facilities and an 18-hole golf course.
Banyan Tree’s involvement at this point in time involves just the management deal, a spokeswoman told BT. ‘We will be managing both Banyan Tree and Angsana resorts in this five-hotel integrated resort development. This would be inclusive of the spas, retail galleries and food & beverage outlets within the two resorts,’ she said.
Internationalising firms should look beyond Dubai, and scout for business opportunities in the Gulf state of Oman instead.
Indeed, there is still a lot of untapped potential there, with business projects that are typically smaller in scale.
This makes them more manageable for Singapore firms that are new to the region, said Lim Ban Hoe, regional director of Middle East & Africa, IE Singapore.
Mr Lim was speaking at the UAE-Oman Seminar held at the Marina Mandarin Singapore Hotel yesterday.