MURIYA APPOINTS HUSSAIN FADHIL & PARTNERS LLC AS LEAD CONTRACTOR FOR JEBEL SIFAH'S GOLF LAKE RESIDENTIAL DEVELOPMENT

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Muscat, May 24, 2017 - Reflecting the growing popularity of its Jebel Sifah destination, Muriya announced the successful sales of its Golf Lake residential area with almost 90% of its units and all loft apartments sold out within twelve weeks of entering the market. In a firm indication of strong demand from investors and homebuyers, more than 115 units were purchased by buyers during the different phases of sales. Hussain Fadhil & Partners LLC (HFP), one of the Sultanate's most renowned excellent grade construction firms, has been appointed as the lead contractor, and international consultants AEB-Assaf have been selected as design and supervision consultants for Golf Lake. The residential project is scheduled to be completed by the beginning of Q4 2018.

Ahmed Dabbous, Muriya's Chief Executive Officer said, "The success of Golf Lake mirrors the solid progress achieved through our efforts to attract long-term investment in the Sultanate's tourism, hospitality and real estate sectors. The successful sales of the project reflects the market's trust in our company's ability to deliver a high quality product with unique amenities in a great location. To meet our clients' expectations we have selected one of Oman's leading local contractors to build the project. With our Jebel Sifah golf course ready, several F&B outlets opening and a series of events being hosted in our destination throughout the year, we are looking forward to a very exciting development phase for Jebel Sifah."

Muriya's tie-up with HFP will ensure that teams of experienced engineers and technical personnel work on every aspect of the new residential area. HFP's long track record of excellence includes work for a wide variety of public organisations, including Duqm Authority, Ministry of Manpower, Ministry of Foreign Affairs, ROP, Diwan of Royal Courts and premium private sector entities. Additionally, Muriya has partnered with international consultants Arab Engineering Bureau (AEB-Assaf) LLC, reputable project management experts with nearly five decades of experience in the Sultanate, as the full design and supervision consultant for Golf Lake. To date, their scope for the residential project has included the introduction and design of Oman's first loft units, through their interior design arm, AEB-Interiors.

Mr. Hussain Fadhil, HFP's Chairman, said, "Joining hands with Muriya puts us at the forefront of one of Oman's most exciting developments. Together, we will harness our accumulative expertise to exceed the expectations of all future residents and investors. We have committed to deliver this project within 16-month period and we will be working hard over the next few months to deliver a high quality project on schedule."

Golf Lake, which is comprised of 14 buildings and 131 studios, one and two bedroom apartments as well as lofts, has been expertly designed to overlook Jebel Sifah's 9-hole Harradine golf course, which has recently opened its doors to residents and visitors. Located in close proximity to the destination's extensive range of retail, leisure and hospitality amenities, the project's freehold properties come in a multitude of sizes, with each unit featuring an open-plan kitchen area, ensuite bathrooms, top quality fixtures and finishing. Included as part of the development are a wide variety of athletic and leisure facilities for homeowners to enjoy, such as an oasis style water feature with an integrated infinity pool, a barbeque area, a 700m jogging track, and a dedicated children's playground.

Since breaking ground in 2008, Jebel Sifah has steadily grown into a contemporary expression of Oman's ancient heritage and culture. A burgeoning community that boasts a wide variety of freehold properties, restaurants, shops and first-class entertainment facilities, The destination is also home to the Four-Star 67-room Sifawy Boutique Hotel, the first of five planned exclusive hotels. It is widely regarded as one of the Sultanate's premier destinations, with new facilities constantly added to meet the evolving needs of its residents, visitors, and tourists.

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