Osus
Osus formation was based on appreciating the importance of a unique real estate development
company and the projects it will create in the new dynamic investment zone of the GCC and the
Middle East.
Osus projects’ development philosophy is to convert “dreams” to reality and then translate that
reality to a living dream for others.
Shareholders:
Al Oula Real estate Development Co. 10.0%
Tanmeyat Investment & Real Estate Development 30.0%
Al Hindi Holding Co. 20.0%
Tanami Holding Co. 20.0%
Others 20.0%
Stargate Project progress:
• Overall project has achieved 94% completion stage. Most of the packages are in advance
stages of completion except landscape package which is 60% complete.
• Project is to have four operations divisions: Services Division (Technical, Security and
Housekeeping), Attraction Department (Dome and Fun Track sections), Tenant Relations,
and Edutainment Department (Marketing, Edutainment records, Edutainment Operations).
• Edutainment is the main activity. An edutainment committee has been formed with
CEO,COO,CMO, edutainment manager, design manager and events coordinator for detailed
planning of operation and marketing.
• Company is evaluating a Crèche type operations.
• Total number of shops in the facility are 90, out of which 7 stores are in-house, 39 stores
have been leased out and stores to be leased out are 42.
• The opening date is scheduled in October 2009 while a soft opening is scheduled on May 1,
2009.
• The project was funded by HSBC Bank ME (AED 100 mn) and by Qatar National Bank (AED
100 mn equivalent Qatari Riyal).