The cutting-edge technology has already proven to be a major success in the GCC, particularly in Oman, where Alargan Towell Investment Company has started work on a 50-hectare multi-million-dollar, mixed-use development. Crystal Lagoons will build a 40-hectare lagoon as part of the project, the center piece to three hotels, serviced apartments, a mixed-use souk and a host of other amenities.
Crystal Lagoons have also signed a deal with Palm’s Beach Company to build a five-hectare lagoon as the centerpiece for the eagerly anticipated Al Nakheel Integrated Tourism Complex (ITC) in the Wilayat of Barka. Construction of the lagoon is due to start in Q1.
Oman is renowned for having some of the cleanest waters in the world, as stated by a recent United Nations report. Crystal Lagoons technology provides a viable, sustainable solution, despite challenges such as water and energy supply, supporting Oman’s drive for clean water preservations through avoidance of contamination. Crystal Lagoons uses any kind of water including brackish from underground aquifers, eliminating the need to consume valuable fresh water resources.
The cutting-edge technology uses up to 30 times less water than a golf course and half of the water required to irrigate a park of the same size. A manmade lagoon also uses 100 times less chemicals than a traditional filtration system and just 2% of the energy required by conventional water treatment systems for swimming pools and drinking water.
The country’s real estate market is also predicting a boost, according to a report by Cluttons. A 5.2% rise in GDP in 2018 due to the introduction of natural gas production via Khazzan gas field, the opening of the new Muscat Airport, and potential relaxing of government rules for foreign investment allowing foreign citizens to own their own property outside of ITCs, are all having a positive impact on the economy and the real estate market.
Although Oman is at the relatively early stages of planning freehold residential developments for investors outside of ITCs, there’s potential for developers to create projects offering an array of amenities and that’s where we see Crystal Lagoons creating a value add. In our experience, developers can charge a premium on properties overlooking our projects and thus can attain a strong ROI.
Carlos Salas, Regional Director, Middle East, Crystal Lagoon
“Developing Oman’s tourism industry is a top priority for the government investment is likely to see a number of recognised hospitality brands coming into the market. “As investment in the country grows, as does competition. We can provide a viable, long term differentiator that offers something unique to other developments we ultimately deliver the wow factor.”