Al Ahly Sabbour for Real Estate Development has officially launched The Iconic Tower, the first and tallest tower in Sultan Haitham City, Oman. Overlooking the city’s central park and main valley, the landmark tower introduces a new benchmark for mixed-use development, featuring a luxury hotel and branded residences under the Villa Coconut brand, in collaboration with TLT Concepts. The project marks a major milestone in Al Ahly Sabbour’s regional expansion, reflecting its strategy to export over three decades of Egyptian expertise to high-growth markets, Invest-Gate reports.
The launch builds on the exceptional success of Wadi Zaha, the company’s debut project in Oman, which has achieved around 80% of its 2025 sales target of OMR 28mn, making it the best-selling development in Sultan Haitham City. With total investments nearing OMR 90mn, Wadi Zaha has become one of the city’s leading residential and investment destinations.
The announcement was made during a press conference on October 5, 2025, followed by a grand ceremony at Al Bustan Palace, a Ritz-Carlton Hotel, attended by H.E. Dr. Saud bin Hamoud Al Habsi, Minister of Agriculture, Fisheries and Water Resources; H.E. Dr. Khalfan Al Shuaili, Minister of Housing and Urban Planning; Eng. Ahmed Sabbour, Chairman and Managing Director of Al Ahly Sabbour; along with ministers, ambassadors, senior officials, business leaders, and investors.
Distinctively designed in a U-shape, The Iconic Tower comprises two interconnected structures with approximately 250 units linked by an elevated bridge symbolizing the gateway between the city and the main valley. The first tower includes a Villa Coconut luxury hotel and branded residences, as well as premium apartments, retail spaces, restaurants, cafes, and leisure facilities including a swimming pool, gym, and walking tracks — creating a fully integrated urban destination.
Unit sizes range from 45 to 150 sqm, including studios, one- to three-bedroom apartments, sky villas, and penthouses. All units are fully finished and semi-furnished with premium materials and offer direct views of Sultan Haitham City’s landmarks.
Commenting on the launch, Eng. Ahmed Sabbour, said: “The Iconic Tower marks a strategic milestone that supports Sultan Haitham City’s economic and tourism development. By integrating real estate, hospitality, and entertainment, the project creates a holistic living experience that aligns with Oman’s vision to attract 6mn tourists by 2030.”
He added: “This project enhances the city’s competitiveness, drives tourism spending, and aligns with the Ministry of Heritage and Tourism’s goal to raise the sector’s GDP contribution to 3.5% by 2030. It also sets a new standard for integrated, sustainable development in Oman.”
The partnership with Villa Coconut by TLT Concepts reinforces the project’s commitment to global hospitality excellence. Known for its lifestyle-driven concepts in destinations such as Zoya Ghazala Bay and El Gouna in Egypt, Villa Coconut is now making its Gulf debut through The Iconic Tower, ahead of upcoming expansions in Athens, Greece.
Al Ahly Sabbour is cementing its presence in Oman with three major projects in Sultan Haitham City — Wadi Zaha, Wadi Safa, and Wadi Tala — with total investments of approximately OMR 440mn (around EGP 45bn). Spanning 100 feddans and comprising over 3,500 units, these projects embody the company’s four-pillar strategy: strategic location selection, strong partnerships, innovative product development, and regional expansion — positioning Al Ahly Sabbour as a key contributor to Oman’s modern urban renaissance.