GLOREI signs Maktabi Al Wattaya agreement

GLOREI signs Maktabi Al Wattaya agreement

Global Omani Development & Investment Co. (GLOREI) signed on 15 March 2010 an agreement to build “Maktabi 2” project in Al Wattaya. The project consists of developing 22,000 square meters of office spaces, exhibition halls and other facilities and supporting services, for a total cost of US$ 25 million. The project will take around 18 moths and will contribute in the economic development in the country, focusing on commercial, residential, recreational and tourism complexes. The contract was signed by Sheikh Mohammed Awfait Al-Shanfari, Chairman of GLOREI, together with Eng. Fuad Abdullah Al Kindi, CEO of Ibn Khaldoon & Al Madaein Engineering Consultancy and Eng. Shyam Sunder, CEO of Larsen & Turbo, the two companies implementing the project.

Eng. Mohammed Abu Baker Al Ghassani, CEO of GLOREI said: “The Maktabi 2 project represents one of the leading projects equipped with the latest technology making it a unique smart office in Oman.”

The company seeks to use local products and materials in all its projects in order to reduce cost, ensure quality and reduce carbon emission. We aim to compensate our environment against the carbon emission from our offices by several initiatives calling for environment protection by using environment friendly materials. The project selection process is based on the locations that are consistent with the principle of sustainable development, saving water and energy and preserving the atmosphere.” He added Prior to investment, GLOREI evaluates the market through the clear vision and finding successful investments that fulfill the economic and investment market conditions. “The current economic situation looks good following the international financial crisis that had a strong impact on several economic sectors.” He commended the government for advertising various projects according to plans thus reducing the impact, and the oil prices have regained its record levels and all these elements encourage investment.