Hospitality and Real Estate

Hospitality, real estate and integrated tourism complexes (ITCs) occupy a central place in Oman’s economic development. K&Co. has advised developers, operators and investors operating in this space, with an understanding of both the local regulatory framework and the commercial dynamics of the sector.

Services:

  • Advice on ITC-related matters
  • Drafting and review of agreements, development plans, rules and regulations, and contracts relating to real estate and development projects
  • Coordination with relevant authorities on licensing, approvals, permits and regulatory compliance
  • Negotiation and drafting of landlord and tenant contracts

NOTABLE MATTERS

  • Sales purchase agreement for an ITC project (2020, OMR 30 million)
    K&Co. drafted the sale and purchase agreement for a high-value ITC project involving the sale of residential apartments and retail units.
  • Property rules, regulations and development control plan for a touristic complex (2022, ongoing, value confidential)
    K&Co. is drafting and reviewing the property rules and regulations and development control plan for a multi-million rial touristic complex, in accordance with the Master Development Agreement established between the government and the client.
  • SPA restructuring for an Integrated Tourism Complex (ongoing, approx. OMR 20 million)
    K&Co. advised on the drafting and structuring of sale and purchase and maintenance agreements for a newly established project within an ITC, as well as the association rules for the homeowners. The firm subsequently advised on dispute resolution options in relation to defaulting purchasers.