
Oman: Al Nama Real Estate unveils Opal Residence project in Muscat Hills
Muscat: Al Nama Real Estate launched Opal Residence project, its largest real estate project for 2025, in Muscat Hills on Monday.
The launch ceremony was held under the patronage of His Highness Sayyid Marwan bin Turki Al Said, Governor of Dhofar.
The project is being developed in an area of 41, 000 square metres and includes 279 residential units and 23 commercial units.
The project accommodates two underground floors and one ground floor and other seven floors.
Opal Residence also accommodates an overhead pathway of 400 metres in length with the largest swimming pool in Muscat Hills. In addition the project will have dedicated recreational and sports facilities such as a gym, sauna, and relaxation area among other amenities.
Sheikh Is'haq bin Abdullah Al Hoqani, Chief Executive Officer of Al Nama Real Estate said that the new residential project will be a new qualitative addition to the real estate sector and to the luxury residence segment.
He said that the project is the result of a clear vision, precise planning and a passion for introducing an unmatched housing experience and amazing architectural design.
He said that the selection of Muscat Hill area for developing the project was its strategic location and the ease of access to the other vital areas in Muscat Governorate.
He said that the company with its 23 year history since incorporation reaffirmed its commitment to continue development of its services and expand the scope of business on the back of a well-experienced work team and consistent with principles and values and transparency.
The launch ceremony was attended by a number of members of the Royal Family, ministers, undersecretaries, diplomats, businessmen and developers.
© Muscat Media Group Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Khaleej Times
8 hours ago
- Khaleej Times
Sharjah's realty delivers stellar performance in May
Sharjah's real estate market delivered a stellar performance in May 2025 with a trading value of Dh5.5 billion across 8,415 transactions. This activity, spanning 13.2 million square feet of traded area, underscores the emirate's growing appeal to investors and its strategic evolution into a diversified, sustainable real estate hub, according to data from Sharjah's Real Estate Registration Department. Real estate consultants observed that Sharjah's real estate market exemplifies a maturing sector that balances growth with sustainability. 'The emirate's strategic vision, robust infrastructure, and investor-friendly policies have created a fertile ground for real estate investment,' an analyst said. They noted that against the backdrop of the UAE's dynamic property sector, Sharjah's performance reflects both local resilience and alignment with broader national trends, underscoring its reputation as a prime investment destination. The UAE's real estate market has been on a steady growth trajectory, with the nation's property sector projected to contribute significantly to the non-oil GDP, which reached 73 per cent of the total economy in 2024, as reported by the UAE Central Bank. In particular, Dubai's high-octane luxury market recorded transactions worth Dh97.5 billion in Q1 2025 per the Dubai Land Department. Balancing affordability with ambitious urban development, Sharjah offers a blend of residential, commercial, and industrial opportunities that cater to a diverse investor base. This diversity, coupled with investor-friendly policies, has fueled Sharjah's real estate momentum. The emirate's market is undergoing a transformative shift, moving beyond traditional growth to embrace sustainability and innovation. Government initiatives, including streamlined regulations and investor protections, have bolstered confidence among local and international stakeholders. Flexible legislation has kept pace with market demands, ensuring transparency and legal integrity. Meanwhile, Sharjah's urban expansion, underpinned by modern infrastructure and large-scale projects, has opened new avenues for investment. Areas like Al-Metraq, Muwailih Commercial, and Tilal have emerged as hotspots, reflecting the emirate's ability to attract developers and buyers May 2025, Sharjah's real estate sector recorded 8,415 transactions, with sales transactions totaling 1,574, or 18.7 per cent of the total, signaling strong demand for properties. Mortgage activity further highlighted market confidence, with 381 transactions valued at over Dh1.1 billion, representing 4.5 per cent of all deals. This financing surge reflects trust from both investors and financial institutions in Sharjah's long-term potential. Initial sales contracts numbered 1,486, comprising 17.7 per cent of transactions, while ownership certificates accounted for 43 per cent with 3,619 transactions. Additionally, 1,355 ownership deeds were issued, making up 16.1 per cent of the total, reinforcing Sharjah's reputation for a well-regulated property transactions spanned 134 areas across Sharjah, covering residential, commercial, industrial, and agricultural properties. Of these, 877 transactions involved land, 395 were for units in towers, and 302 were for built-in land deals. Sharjah City dominated with 1,426 sales transactions, led by Al-Metraq, which recorded 354 deals, followed by Muwailih Commercial with 258 and Tilal with 135. In terms of trading value, Muwailih Commercial topped the list at Dh352.2 million, followed by Tilal at Dh263.2 million, Al-Sajaa Industrial at Dh140.9 million, and Al-Metraq at Dh114.9 Sharjah City, the Central Region logged 97 sales transactions, with Industrial 1 leading at 17 deals and Al-Blida recording the highest trading value at Dh13.8 million. In Khor Fakkan, 26 transactions were recorded, with Al-Harai Industrial contributing five deals and Hay Hayawa 4 achieving a trading value of Dh3.6 million. Kalba City saw 24 transactions, with Al-Tarif 5 leading at seven deals and Al Soor 1 posting a trading value of Dh3.5 million. This widespread activity underscores Sharjah's ability to cater to varied investor preferences across its regions. A 2025 report by Property Monitor highlights that Sharjah's affordability, compared to Dubai's average property price of Dh2.1 million, makes it a magnet for middle-income buyers and investors seeking value-driven opportunities. Additionally, Sharjah's focus on cultural and educational hubs, such as University City, enhances its appeal as a holistic lifestyle destination.


Khaleej Times
8 hours ago
- Khaleej Times
Dubai realty defies global trends, eyes 300,000 new housing units by 2028
Dubai's residential real estate market continues to defy global trends, posting sustained growth in both sales volumes and values as the emirate retains its status as a leading destination for property investment. With 73,000 new homes slated for delivery by 2025 and an ambitious target of 300,000 units by the end of 2028, Dubai is undergoing one of the most significant residential expansions in its history, according to consultancy Cavendish Maxwell. Despite a slight quarter-on-quarter decline, the market remains firmly on an upward trajectory. In the first quarter of 2025, the city recorded 42,000 property sales transactions valued at Dh114.4 billion. While this marks a 10 per cent drop compared to the last quarter of 2024, it represents a striking 23 per cent increase from the same period in the previous year. Cavendish Maxwell's Director and Head of Residential Valuation, Ronan Arthur, noted that while prices began the year on a softer note, they are now stabilising. The average quarterly price increase stood at 2.8 per cent, down slightly from the 4 per cent average of 2023 and 2024, signaling a maturing market. Almost 95 new projects were launched in the first quarter of 2025, bringing an anticipated 29,000 residential units to the market. About 9,300 of these units were completed during the same period — the second-highest quarterly figure in two years. Apartments accounted for nearly 80 per cent of the completions, with villas and townhouses making up the rest. Jumeirah Village Circle (JVC) led all areas in both completions and transactions, adding 4,330 units and recording 3,330 apartment sales. Off-plan sales dominated activity, contributing Dh77.5 billion from 29,000 deals — roughly 70 per cent of all transactions and a 32 per cent increase year-on-year. The secondary market also showed resilience, with 13,200 transactions representing a 6.6 per cent annual rise. Apartments made up 75 per cent of total deals, though demand for larger homes is also increasing. Townhouses and villas represented 17 and 7 per cent of sales respectively, reflecting buyers' growing interest in more spacious living. Luxury properties saw a notable upswing as well, with 590 homes sold at prices above Dh20 million, up from 480 in the same period last year. A majority — 67 per cent — of these high-end sales were off-plan, indicating a strong appetite for new developments among affluent investors. By March 2025, the average property price had reached Dh1,535 per square foot, a 16 per cent year-on-year increase. V. Sivaprasad, chairman of Condor Developers, the prime property market continues to record steady surge in demand. 'The rise in the influx of wealthy buyers to Dubai continues to propel the luxury residential sector, defying general regional trends. Dubai's residential property market continues to flourish, driven by strong investor sentiment, a diversified demand base, and strategic planning. As the city evolves, developers and investors alike will need to navigate a more mature and dynamic landscape — one that increasingly rewards timely execution, smart planning, and long-term vision,' said Sivaprasad. Rental dynamics, however, are showing signs of moderation. Annual rent growth stood at 14.4 per cent, but only one per cent on a quarterly basis — the slowest pace in two years. This could be a result of the growing supply of new units and the implementation of the Dubai Smart Rental Index, which is expected to bring more transparency and structure to pricing. Average rental yields remain attractive: 7.3 per cent for apartments and five per cent for villas and townhouses. Some areas, such as Dubai Investments Park, International City, and Downtown Jebel Ali, are offering yields as high as 10.3 per cent for apartments, while Industrial City leads the villa segment at 6 per cent. Market optimism was further bolstered by record-breaking activity in May 2025. According to fäm Properties, Dubai saw property sales worth Dh66.8 billion during the month — a 49.9 per cent increase compared to May 2024. With 18,693 transactions, it became the second-highest month on record for volume. In contrast, May 2020 saw only Dh2.3 billion from 1,400 deals. This dramatic rise underscores the emirate's evolution into a global investment hub, fueled by economic stability and sustained interest from high-net-worth individuals. Despite concerns raised by some analysts over a potential 15 per cent price correction, industry leaders remain confident. fäm Properties CEO Firas Al Msaddi dismissed the fears, stating that the market is not headed for a downturn but merely entering a phase of more measured growth. With over 360,000 residential units in the pipeline for the next five years but only a fraction nearing completion, demand appears well positioned to absorb incoming supply.


Zawya
9 hours ago
- Zawya
Sharjah's real estate sector records $1.5bln in transactions during May
The Emirate of Sharjah recorded strong performance in its real estate sector during May 2025, with total trading value of AED5.5 billion across 8,415 transactions in various areas of the emirate. The total traded area of sales transactions reached 13.2 million square feet, which reflects the continued strength and strategic development of the emirate's real estate market. The real estate sector in Sharjah is undergoing a strategic transformation, marking a clear shift from traditional growth patterns toward a more advanced, diversified, and sustainable phase. This evolution is reflected in the rising range of investors and the increasing variety of real estate uses entering the market. Underlying this transition is the growing maturity of the sector, driven by a combination of key enablers, most notably, the government's proactive vision to enhance the business environment and the implementation of flexible, investor-friendly legislation. These reforms are designed to keep pace with dynamic market needs, offering both confidence and strong legal assurances to local and international stakeholders. At the same time, balanced urban expansion, along with ambitious development projects being implemented across the emirate, has helped reshape the real estate landscape in a more comprehensive and diverse manner. This trend has created new investment opportunities, supported by modern infrastructure and promising areas that are witnessing increasing interest from investors and developers. Statistics from May 2025 highlight the growing momentum in Sharjah's real estate sector, with a total of 8,415 transactions recorded across the emirate. Of these, 1,574 were sales transactions, accounting for 18.7% of the total, a clear indicator of increasing demand for real estate. In parallel, mortgage activity remained strong, with 381 mortgage transactions, representing 4.5% of all transactions and totalling more than AED1.1 billion in value. This level of financing activity reflects the growing confidence of both investors and financial institutions in Sharjah's real estate sector. Initial sales contract transactions totalled 1,486, accounting for 17.7% of all real estate transactions, while ownership certificate recorded 3,619 transactions, representing 43% of the total. Furthermore, 1,355 ownership deeds were issued during May, comprising 16.1% of total transactions. This underscores the steady pace of ownership registration and property transfers, reinforcing the emirate's reputation for transparency, legal integrity, and a well-regulated real estate environment. Sales transactions took place in 134 areas across the various cities and regions of the Emirate of Sharjah. These properties included residential, commercial, industrial, and agricultural lands. Regarding the type of property traded, 877 lands were traded, 395 of units in towers, and 302 of built-in land transactions. "Al-Metraq" was the highest-traded area in terms of sales transactions. Sharjah City accounted for the majority of sales deals in May, recording a total of 1,426 transactions. 'Al-Metraq' ranked the highest in terms of the number of sales transactions, with 354, followed by 'Muwailih Commercial' area with 258 transactions. 'Tilal' area ranked third with 135 deals, then 'Rodhat Al Qarat' area recorded 67 transactions. In terms of the areas with the highest trading value, 'Muwailih Commercial' area ranked the highest with a trading value of AED 352.2 million, followed by 'Tilal' with AED263.2 million, 'Al-Sajaa Industrial' area with AED140.9 million, and 'Al-Metraq' with AED114.9 million. In the Central Region, a total of 97 sales transactions were recorded, most of which were in the 'Industrial 1' with 17 transactions. In terms of trading value, 'Al-Blida' area ranked the highest with a trading value of AED13.8 million. As for the city of Khor Fakkan, it recorded 26 sales transactions, in which 'Al-Harai Industrial' area recorded 5 transactions. Meanwhile, Hay Hayawa 4 area had the highest trading value of AED3.6 million. Finally, and in Kalba city, 24 sales transactions were recorded, led by 'Al-Tarif 5' area with 7 transactions, while 'Al Soor 1' had the highest trading value of AED3.5 million.