Oman Arab Bank and Omran Group announce strategic partnership for Sole Financing of Nikki Beach Resort & Spa Muscat

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 11/September 2023 – Muscat: Oman Arab Bank (OAB) and Oman Tourism Development Company (OMRAN Group) have sealed a strategic partnership to solely finance the upcoming Nikki Beach Resort & Spa Muscat, currently being developed adjoining the Sustainable City – Yiti. This marks the latest landmark project that the bank has financed in the Sultanate of Oman, further supporting the country’s advancement across developmental, economic and sectors.

Sulaiman Al Harthi, CEO of Oman Arab Bank, said: “We are proud to partner with OMRAN Group to bolster the nation’s hospitality sector. The bank has a proven track record of handling large-scale, complex projects and catalyzing economic diversification efforts that are aligned with the objectives of Oman’s Vision 2040. Economic diversification is vital to stimulate Oman’s sustainable development at a global level and this project represents another step forward on that journey.”

OMRAN Group’s CEO, Hashil Al Mahrouqi, said: “We are excited to be working with Oman Arab Bank to see the Nikki Beach Resort & Spa Muscat project through to its successful completion. This resort is part of our continued endeavor to build on the nation’s position as a preferred global destination for tourists. It is a landmark development widely considered to be one of the most significant additions to Oman’s luxury hospitality sector. It will undoubtedly play a vital role in pushing Oman’s tourism sector to reach its full potential, which aligns with OMRAN Group’s commitment to developing exceptional and sustainable destinations.”

Nikki Beach Resort & Spa Muscat will feature 140 hotel rooms and 30 villas with private pools. Facilities will include the beach club, three signature restaurants, three swimming pools, a spa, gym and marina. Founded in 1998, Nikki Beach is a global concept that combines elements of music, dining, entertainment, fashion, film and art. Its Muscat property will be the latest in a portfolio that currently boasts 11 beach clubs and five hotels and resorts located around the world.