ISH housebuilder Consero has joined forces with one of Oman’s biggest property companies to build £300m of mansions and apartments in Oman and the rest over the Middle East over the next five years.
The developer said yesterday it has created a joint venture with the Al Raid group, which is owned by the Al Araimi family – a wealthy family with close ties to the Omani royal family.
The first project will be a “Middle East version of Kensington’s Phillimores development” in Oman’s capital city Muscat, the pair said. The 14 luxury villas will measure around 5,000 square feet and could fetch around £1m each.
Founded in 2004, Consero London has completed and sold over £1bn of luxury property in London and the Home Counties. Co-founder Robert Osborn said it will also roll out a “diffusion line” aimed at the broader middle market.