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Press
Release
MB forms new Company, MUSSTIR LLC
 In the process of growing various subsidiary companies, MB Holding has acquired an extensive real estate portfolio in the Sultanate and beyond.
With the intention to strengthen and broaden the current success and credibility of the family, MUSSTIR is structured, as a stand alone company, to manage resourcefully the group’s existing real estate interests and to identify and develop further property development opportunities.
Through intellectual innovation, professionalism and a constant drive for excellence, MUSSTIR endeavors “to be recognized as one of Oman’s leading real estate development and investment firms”. Core corporate values the company are – Excellence, Innovation, Professionalism, Efficiency, Integrity, Ethical conduct.
MUSSTIR – the name implies – “protector”. The corporate identity, its logo, reflects this idea to protect and nurture what we have while looking forward but remembering our heritage. This is represented in the form of a crescent moon, which is a positive symbol of Arabian Heritage.
Of the projects MUSSTIR is currently developing “Safana Plaza” – a mixed use development, is one the most ambitious projects in the country. Aiming to be one of the first LEED sustainability accredited commercial development in Oman, which is a global standard for farsighted organizations with a strong corporate responsibility. The development offers – five star hotel and serviced apartments, ballroom and conferencing facilities, Spa, first class commercial office space, boutique retail shopping precinct.
With generous covered car parking, extensive landscaping and contemporary finishes, Safana Plaza is going to be a landmark development. As a 5-star integrated, commercial, retail and hospitality destination it will lift the profile of Muscat as an international business destination.
Duqum is situated 500 kms from Muscat and designed to be a major industrial gateway to Oman. Work has already commenced on developing a dry dock, port, international airport, industrial free zone and many more facilities. In conjunction with the Ministry of Tourism MUSSTIR is supporting this major government initiative by developing a Hotel and Spa development. The 500,000 sq meters beachfront site will consist of a 250 rooms 4-star hotel and 80 self-contained chalets and a spa complex in Phase 1. Additional chalets and a potential marina development will come up in Phase 2.
On the group’s own property requirement side, offices & residences are being constructed in Sohar. First phase shall be ready by March, 2009. Second phase shall be completed by August, 2009 and a portion of this will also be offered to the market. MUSSTIR is currently evaluating a potential development of residential apartments in the capital as well as future workshop facilities
MUSSTIR is also preparing a property asset register of all national and overseas properties in order to appraise and come up with effective strategies & best use. With the assistance of specialist facility management experts, a centralized system is being evolved for better upkeep of the properties.
Team MUSSTIR is small with five members – Safana, Terry, Vijay, Medina and Delicia. Has wide ranging experience – from project management, master planning, architectural & general engineering to marketing, finance & accounts, branding and management. As the portfolio grows, plans are to expand and bring in more personnel with special expertise from the industry – to handle project deliveries, design, and etc.
MUSSTIR team looks forward to working with and enhancing the current success and reputation of the MB group.
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