$51m funding secured for female-only campus in Muscat @ The Myriad

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$51m funding secured for female-only campus in Muscat

March 04, 2020

The three-tower project will accommodate up to 2,500 residents, and will include a shopping mall and other retail and leisure elements on the ground floor.

A female-only residential and retail complex for students is being built in Muscat in a first for the sultanate.

The Myriad, Muscat, launched during a ceremony held under the patronage of Dr Rawya Saud Al Busaidi, Minister of Higher Education, secured a OR20 million ($51.9 million) facility from Muzn Islamic Banking, the Islamic arm of the National Bank of Oman (NBO).

The property is a joint development of Sandan Development, Shaksy Group and Mubbadrah and will be operated by The Myriad, the Middle East, Asia and Africa partner of Asset Campus International, the largest student-housing firm globally with its headquarters in the US.

The Myriad, Muscat is currently under construction with Shaksy Engineering Services as the appointed main contractor. The project today has reached 35 percent completion.

The three-tower project will accommodate up to 2,500 residents, and will include a shopping mall and other retail and leisure elements on the ground floor.

The property is located along the Muscat Expressway, in close proximity to Sultan Qaboos University.

The rooms will be fully furnished with en-suite facilities and residents will have the choice between single and multi-occupancy room types.

“The National Bank of Oman is committed to working together with all public and private partners to further empower women in all spheres of life,” said Sayyidah Rawan Ahmed Al Said, chairperson of National Bank of Oman. “We realise that innovation and women empowerment are rarely discussed in the same context, but we are firm believers this has to change as each has a paramount impact on socio-economic development. The Myriad, Muscat is the first-of-its-kind women-dedicated complex, which will definitely drive social norm change and create economic resilience for women for generations to come.”

In addition to a supermarket and other retail stores, it will include a ladies only fitness club, food and beverage choices and a training centre.

Vikram Rao, CEO of The Myriad and Strategic Housing Group (SHG) said: “The Myriad, Muscat will be an all-ladies living community offering spaces dedicated for women to live, work, and study helping them realise their aspirations in the growing metropolis of Muscat. The project takes into consideration the sultanate’s local culture, while integrates key features ensuring elevated levels of convenience for tenants and visitors alike, ultimately creating a unique world-class experience.”