Talaat Moustafa Group (TMG) and the Omani Ministry of Housing and Urban Planning today, Monday, May 19, 2025, signed an agreement to develop two projects – a real estate and a tourism-related venture – west of Muscat, the Omani capital, Invest-Gate reports.
The signatories were His Excellency Dr. Khalfan Al Shueili, the Omani Minister of Housing and Urban Planning, and Mr. Hisham Talaat Moustafa, Chairman of the Board of Directors of Talaat Moustafa Group Muscat for Real Estate Development.
Mr. Hisham Talaat stated that the two projects’ total investment value amounts to approximately OMR 1.5 bn and will provide about 13,000 residential and hotel units across over 4.9 mn sqm. Furthermore, he noted that the two projects, situated on adjacent land plots west of Oman’s capital, Muscat, will be linked by an electric train.
Integrated residential project in Sultan Haitham City
The initial 2.7 mn sqm land plot in Sultan Haitham City will become a smart, integrated-services residential development, mirroring the success of Talaat Moustafa Group’s Madinaty and other projects in Egypt. The residential project will feature diverse villa and apartment models, a social and sports club covering an area of 190,000 square meters, and commercial and service areas spanning 140,000 square meters. The project enjoys a prime location minutes away from Muscat International Airport.
Global tourism project with a unique view on the Gulf of Oman
Situated along the Al-Shakhakhit coast, the second land plot, spanning approximately 2.2 mn sqm with a 1,760-meter beachfront on the Gulf of Oman (directly west of Beit al Baraka Palace), will be transformed into a world-class tourism destination. The project features a yacht marina, a tourist hotel, villa-areas with unique sea views linked by artificial lakes, as well as cabins and residential buildings (apartments).
The tourism project enjoys a strategic location approximately 4 km from Sultan Haitham City and minutes from Muscat International Airport. It also intersects with the 215,000 square meter Al Naseem Heritage and Entertainment Park, providing vast green spaces and a distinctive view for various units of the project.
Vast green spaces and integrated services
The real estate and tourism projects, both offer a high quality of life with comprehensive services catering to all resident needs. Over 50% of their total area is dedicated to expansive green spaces and open areas. Religious, health, entertainment, and sports services are also available, alongside daily and seasonal commercial offerings. Furthermore, the projects will leverage cutting-edge smart technologies for management and operation.
The Sultanate of Oman marks Talaat Moustafa Group’s second venture outside Egypt, following their initial projects in the Kingdom of Saudi Arabia. These Saudi Arabian endeavors include Banan City, a 10 mn sqm development northeast of Riyadh.