A joint venture between Consero London and Al Raid Group is to build luxury residential property worth $450m across Oman over the next five years. Consero made its name in the UK designing and building mansions in the Home Counties.Â
One project that will get under way this summer is a development of 14 large villas, each 5,000 square foot in size, surrounded by large terraces and set in landscaped gardens. Each unit will be worth about $1.5m.Â Â Â
Saraya, the architectural design and project management division of the Omani Al Raid Group, will act as lead consultant to Consero Design. The properties will be marketed under the Saraya Consero brand name.Â
The joint venture will also build schemes aimed at Oman’s middle market, with a development of 264 one and two-bedroom apartments and penthouses set to launch this year in Muscat.Â
Sheikh Fahad Abdullah Al Araimi, the chief executive of the Al Raid Group, said: "We are delighted by this new agreement, which will fuse the Al Raid Group’s real estate strength, design excellence and local knowledge with the outstanding British product quality and innovation for which the Consero London brand is renowned.Â Â
"By aligning the Saraya and Consero brands we are creating an exciting fusion product which will deliver a high quality residential offering that will set new benchmarks in the local marketplace."Â
The companies plan to branch out into the wider Gulf region in the future.