16/11/2017 05:39 AST

AccorHotels, an international hotel chain, has signed a management agreement with Al Anwar Holdings SAOG for its brand new hotel - Novotel Muscat Athaiba. The agreement was signed by Masoud al Harthy, Chairman of Al Anwar Holdings SAOG, with chief executive officer of AccorHotels at the Tulip Inn (Ruwi) Hotel, under the auspices of Ahmed bin Nasser al Mehrzi, Minister of Tourism.

Located in close proximity to Muscat International Airport, the upcoming Mall of Oman and Madinat Al Irfan development, Novotel Muscat Athaiba provides convenient access to key business and leisure destinations in Muscat.

"As Oman takes great strides in economic diversification, we see a major opportunity to grow our portfolio through a focus on hospitality.

The location of Novotel Muscat Athaiba on the Sultan Qaboos Road near Oman's prestigious international convention centre positions it as a unique offering in the market," said Masoud bin Humaid al Harthy.

"Partnering with AccorHotels was a natural choice for our move into hotel development, as we aim to work with a team who has strong track record and reputation as a leading travel and lifestyle group in the Middle East," added Al Harthy.

Novotel Muscat Athaiba offers 200 spacious rooms, a fully-equipped gym, spa and swimming pool. A variety of dining options will be on offer, including a lobby lounge and all-day dining restaurant. Besides, Novotel Muscat Athaiba will have meeting rooms for medium to large scale gatherings. The Project will also offer serviced managed offices for foreign investors and travellers to work and stay together in the same place.

"The tourism sector is expected to get a shot in the arm with the opening of a state-of-the-art airport in Muscat at the beginning of next year, while new routes of Oman Air and budget carrier Salam Air will help to attract tourists from within the region and other international destinations," said Al Harthy.

The Sultanate, like other GCC states, is expanding capacity at the airports and developing infrastructure to complement the government push for boosting visitor traffic, thus providing a major incentive for increasing hotel capacities.

The new state-of-the-art terminal at the Muscat airport has a capacity to handle 12 million passengers per annum, which can be scaled up to 24 million, 36 million and 48 million in different phases if needed.

Al Harthy noted that the National Strategy for Tourism 2040 aims at making the Sultanate as one of the most important tourism destinations with a robust 6 per cent annual growth in tourism revenue, besides doubling the number of tourists to five million visitors by 2040.


Oman Daily Observer

Al Anwar to sell 9 per cent stake in Ominvest for OMR31m

13/11/2017

Al Anwar Holdings (AAH) plans to sell its 9 per cent stake in Oman International Development and Investment Company (Ominvest) to Oman National Investment Corporation for OMR31.16 million. The compan

Times of Oman

Al Anwar Holding to divest from Falcon Insurance

19/01/2017

Al Anwar Holdings SAOG (AAH), an Oman-based company listed on the Muscat Securities Market, has announced that it will be divesting part of its holding in Falcon Insurance Company SAOC.

The

Oman Daily Observer

Al Anwar net profit rises 28%

07/08/2014

Al Anwar Holding said its net profit surged ahead by 28 per cent to OMR1.59 million for the first quarter ending June, 2014.

The investment company's total income also rose 26 per cent to

Times of Oman

Ticker Price Volume
AAIC Sector Market
P/E
Price/BookValue
Dividend Yield (%)
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
BKSB 0.17 0.01 (6.25%)
BKMB 0.34 0.00 (0.00%)
NBOB 0.37 0.00 (0.00%)
ABOB 0.15 0.00 (0.00%)
BKDB 0.15 0.00 (0.00%)
Gulf Bank launches Concierge App in collaboration with Peacock Concierge

06/03/2026

As part of its ongoing commitment to delivering innovative digital solutions that enhance customers' lifestyles, Gulf Bank has launched its new Concierge App in strategic collaboration with Peacock C

Kuwait Times

Union Properties joins Massachusetts institute's industrial liaison programme

06/03/2026

Union Properties, one of the UAE's leading master developers, said it has entered into a membership agreement with the Massachusetts Institute of Technology (MIT) through its globally recognised Indu

Trade Arabia

Emirates NBD waives ATM withdrawal and debit card fees across UAE and GCC

06/03/2026

Emirates NBD has waived a range of banking fees for customers across the UAE and the wider Gulf, making cash and card services easier to access during a period of heightened regional uncertainty.

Gulfnews

2PointZero buys majority stake in Italian packaging group ISEM for $192m

06/03/2026

2PointZero Group, a next-generation investment powerhouse focused on energy and consumer sectors, has announced that it has formally completed the transaction to acquire a majority position in ISEM,

Trade Arabia

SAL agrees $30m Aviapartner Liege acquisition to expand into Europe

06/03/2026

SAL Saudi Logistics Services Co. has agreed to acquire Belgium-based Aviapartner Liege SA for ?28 million ($30.3 million), giving the Saudi logistics firm a foothold at one of Europe's major air carg

Arab News