
Sultan Haitham City landscape design wins international award
This accolade affirms the quality of planning and design that considers the human and environmental dimensions. It features a balanced distribution of open spaces and the integration of the urban landscape with green pathways and pedestrian walkways, thereby enhancing the quality of life and solidifying the concept of smart and sustainable cities.
Eng. Amal Musallam Al Zaidi, an urban planner and landscape engineer at the Executive Office for Future Cities, stated that winning this prestigious award embodies the project's commitment to the highest standards of sustainable urban planning. Sultan Haitham City, she noted, is an integrated model in design that connects people with their environment, bringing a balanced character of functionality and beauty to daily life.
The project is being implemented in partnership with a selection of local and international companies specialising in design and engineering supervision. Implementation work has commenced on infrastructure projects and the first residential neighbourhoods, in collaboration with local and international developers. This is part of a comprehensive development plan that aligns with the highest urban standards and embodies the city's goals for sustainability and quality of life.
The Arabian Property Awards recognise projects and companies that achieve high standards in real estate development and architectural design. These awards are part of the "International Property Awards" and are overseen by a judging panel comprising elite experts and specialists in planning, design, and urbanism.
This achievement solidifies Sultan Haitham City's position as an exemplary national project, reflecting Oman's direction in building modern, integrated cities according to standards of sustainability, quality of life, and balanced planning, in line with the objectives of Oman Vision 2040.
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Times of Oman
37 minutes ago
- Times of Oman
Omani Angle in Oman Investment Authority's foreign investments
Muscat: Oman Investment Authority (OIA) has played a key role in localising several advanced global technologies and projects through its Omani Angle philosophy, which guides its international investment strategy. Among its achievements, OIA successfully localised a home energy consumption monitoring technology through Sense Lab, enabled a local company to collaborate with a global partner to produce insulin medications through its partnership with Biogenomics, and launched the Oman Innovation Laboratories Centre in cooperation with Gradiant. Additionally, OIA has taken a pioneering role in introducing technology that reduces flare gas emissions through its investment in Crusoe. Beyond its technological initiatives, OIA has also addressed a range of prevailing public perceptions about its affiliated companies, most notably, concerns about unclear governance frameworks, inflated salaries and benefits, competition with the private sector in commercial activities, and overlapping mandates among subsidiaries. These efforts were highlighted in the 14th issue of Enjaz & Eejaz, OIA's quarterly bulletin. The issue defines the Omani Angle philosophy as the approach whereby OIA's foreign investments lead to attracting foreign investment into the Sultanate of Oman, transferring technology to local companies, or encouraging international firms to establish regional offices in the country. OIA has embodied this philosophy through the investments of the Future Generations Fund (FGF). For instance, the FGF invested in Sense Lab, a leading company in smart energy solutions. This enabled the localisation of a home energy consumption monitoring technology in Oman and laid the groundwork for establishing a research and development center in the Sultanate, an initiative that supports the national economy and creates local job opportunities. Another notable example is Biogenomics, a leading biopharmaceutical and diabetes treatment company. The firm collaborates with a local Omani company to produce insulin medications and is currently planning to establish an insulin production facility within the Sultanate. OIA has also invested in Gradiant, a prominent company in water and wastewater treatment. This investment led to the localisation of water treatment technologies in Oman and a collaboration between Gradiant and Nama Water Services to launch the Oman Lab Innovation Centre, which applies cutting-edge solutions to address water-related challenges in the Sultanate. Additionally, one of Gradiant's subsidiaries is working to enhance the performance of desalination plants in Oman. Moreover, OIA's investment in Crusoe has led to the localisation of technologies that generate energy by capturing flare gas emissions, gases that contribute to global warming. This not only reduces greenhouse gas emissions but also positions the Sultanate as a regional leader in bringing this technology to the Middle East. In addition, the bulletin addressed various public perceptions that emerged during the transitional phase when companies were transferred from government ownership to OIA. It highlighted how OIA's actions helped reshape the public image of its subsidiaries. One such perception was the lack of governance frameworks. In response, OIA issued several policies, notably the Code of Governance for OIA Entities, and launched an Electronic Governance Platform to monitor its companies' compliance with governance practices. Another concern was inflated salaries and benefits, which OIA addressed through the 'arsheed Programme, launched in January 2021. This initiative streamlined the compensation system, reducing the number of allowances and benefits from 80 items to just 12, and standardised them across all subsidiaries, creating an integrated salary and benefits structure. Financial underperformance and lack of sustainability among subsidiaries were also common perceptions. OIA tackled this by reducing company debt levels to enhance investment and growth capabilities, and by mandating transparency and publication of financial indicators. As a result, by the end of 2024, companies' debt was reduced by 47%, and many transitioned to profitability. The perception that OIA companies were crowding out the private sector was another issue. To change this, OIA launched a divestment program, exiting 18 assets so far, and established the Future Fund Oman (FFO), which attracted OMR885 million in foreign investments during its first year. Furthermore, it capped subsidiaries' ownership in new projects at 40% to create more room for private sector participation in national development. The issue also addressed concerns about overlapping responsibilities among subsidiaries. OIA resolved this by reviewing and organisational structures, leading to the restructure, dissolution, or merger of several companies in the electricity, transportation, and food sectors. It also launched the Rawabet programme, which generated 41 integration and synergy initiatives and identified 8 shared strategic priorities to align all subsidiaries on a unified path. The issue also featured an interview with Sultan Al-Habsi, Chairman of OIA's Board, in which he discussed OIA's major contributions to the national economy over the past five years. These included injecting over OMR7 billion into the state budget to continue the role initiated by the State General Reserve Fund since 2016. Other contributions include enhancing investor confidence, improving the investment climate in Oman, and reducing companies' debt by 47% by the end of 2024. Al-Habsi also discussed the dual financial and economic impact of the National Development Fund (NDF), which spent over OMR8.8 billion since its establishment. Its financial importance lies in enhancing financial stability, reducing the state's budgetary burden, and stimulating national economic activity. Economically, it is strategically aligned with Oman Vision 2040 as these projects focus on high-impact sectors, helping diversify the productive base, generate local employment, and strengthen supply chains. In the same interview, Al-Habsi clarified the Board's role in steering investment decisions and ensuring long-term financial sustainability. The Board is tasked with approving OIA's vision and strategy, overseeing major investment decisions, asset allocation, policy approval, and its companies' governance, ensuring, as he described, that OIA remains 'a trusted custodian of Oman's wealth, investing for present and future generations in alignment with Oman's national interests.' Recognising its national responsibility to contribute to development and achieve the goals of Oman Vision 2040, OIA highlighted its National Agenda, a set of development-oriented commitments including attracting foreign investment, reducing its companies' debt, developing human capital, maximising local content, and supporting the national digital transformation journey. OIA has made tangible progress toward these goals. In 2024 alone, the NDF and FFO attracted more than OMR3.3 billion in foreign investments, while the divestment programme drew over OMR1.5 billion. OIA also cut debt by more than OMR2.5 billion by the end of 2024. It prioritised human capital development through initiatives like the Nomou and Mu'tamad programmes, positioning people as drivers of growth. It also focused on maximising local content, issuing policies and guiding its companies to adopt and enhance local content practices. Programmes like the Vendor Development Programme helped develop 58 small and medium enterprises (SMEs) between 2023 and 2024, in addition to initiatives such as the Mandatory list, Ring Fencing, and the Qimam Hackathon. These efforts led to an increase in SME spending to OMR265.5 million in 2024. On the digital transformation front, OIA aligned its internal digital strategy with the national plan under Oman Vision 2040. This included upgrading its digital infrastructure, enhancing operational efficiency, and deploying advanced technologies for decision-making and performance improvement, marking substantial progress in the Authority's digital journey. The issue then explored OIA's central role in supporting Oman Vision 2040 through its investments and strategic direction. It has diversified income sources by investing across multiple futuristic sectors and reinforced Oman's international relationships through key strategic partnerships, such as Al Hosn Investment Company with Qatar, Brunei-Oman Investment Company, and the Spain Oman Private Equity Fund, among others. Reducing public debt remains a top priority to ensure financial sustainability, a cornerstone of Vision 2040. Measures taken include contributing annually to the state budget, reducing companies' debt, minimising government loan guarantees, and prepaying part of its companies' debt. Furthermore, OIA has invested in developing national talent, launching programmes for graduates and increasing Omanisation rates within the Authority and its companies to 77.7% by the end of 2024 after creating 1,393 direct and replacement jobs for Omanis during the year. Finally, the issue highlighted flagship projects across various sectors, such as the opening of Duqm Refinery in the energy sector, the Manah 1 and Manah 2 solar projects in public services, and the Mazoon Copper Project in mining. It also celebrated OIA personnel who marked a decade of national service, tracing their journey from the former State General Reserve Fund through its transition into today's Oman Investment Authority.


Times of Oman
an hour ago
- Times of Oman
Ministry striking a balance between resource utilisation and sustainability
Muscat: The Ministry of Energy and Minerals is seeking to maintain a stable level of oil and gas production and reserves in the Sultanate of Oman, thereby achieving a balance between optimal utilisation of resources and also ensuring long-term sustainability. Dr. Saleh bin Ali Al-Anbouri, Director General of Exploration and Production at the Ministry of Energy and Minerals, said that all companies operating in concession areas are balancing production with reserve compensation programmes throughout the year. In a statement to the Oman News Agency, he added that the Sultanate of Oman's average production of crude oil and condensates in 2024 amounted to approximately 993,000 barrels per day, while natural gas production amounted to approximately 149 million cubic metres per day, reflecting stable supplies over the past years. He pointed out that the Ministry of Energy and Minerals is working to market several open concession areas and attract new investments to intensify exploration in the coming period, based on market demand and in parallel with Opec+ efforts to maintain global balance. He said that the ministry is currently focusing on marketing offshore areas, which is expected to open up promising prospects that will support maintaining production and reserve levels in the future by introducing advanced technologies in these areas. He explained that the investment environment in the oil and gas sectors in the Sultanate of Oman is promising and has successfully been able to attract many international and local companies. He noted that the Ministry signed three petroleum agreements in 2024 in areas 38, 74, and 15. Saleh bin Ali Al Anbouri added that, given the importance of exploration operations in supporting oil and gas reserves, these efforts have continued at a steady pace. Seventy-three exploratory and appraisal wells were drilled last year, including 54 oil wells and 19 gas wells. These include those carried out by Petroleum Development Oman (PDO) which drilled 24 oil and 9 gas wells as part of its annual plan. He further pointed out that crude oil and condensate reserves by the end of 2024 amounted to approximately 4.825 billion barrels while gas reserves rose to 23.3 trillion cubic feet, reflecting the success of ongoing efforts and to achieve long-term resource sustainability. He affirmed that the Ministry is continuing its approach aimed at achieving a reserve replacement rate of 100 percent by enhancing exploration activities, expanding recovery rates through the application of enhanced steam and polymer injection recovery technologies, and creating an attractive investment environment, ensuring a stable future for the energy sector in the Sultanate of Oman.


Times of Oman
an hour ago
- Times of Oman
Commerce Ministry hails Chinese investment in Oman
Salalah: The Ministry of Commerce, Industry and Investment Promotion reaffirmed its commitment for the support of the Chinese investments in the Sultanate of Oman. The ministry valued the role of Chinese companies in national priorities, mainly in the field of manufacturing and local content during the meeting of Dr Saleh bin Said Masan, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, with a number of Chinese investors. The meeting coincided with the third session of the Omani-Chinese Friendship Forum 2025 , held in the Wilayat of Salalah in Dhofar Governorate. The meeting discussed a number of enquiries submitted by the representatives of the mega Chinese companies operating in the Sultanate of Oman, which dealt with the available investment opportunities, the mechanisms of boosting the value of the local content and the facilities and incentives offered in the promising economic sectors. Dr. Saleh bin Said Masan said that the efforts for boosting the local content take into account the balance between increasing the percentage of local participation and the efficiency of the projects and achievement of the investment feasibility. He also pointed to efforts for facilitating the establishment of foreign companies, mainly with the launch of Invest in Oman Centre as a common outlet for offering the investment services, including issuance of the licences, the link with the government departments and availability of translation and technical support for Chinese investors. He said that the government offers a number of incentives including the reduction of basic services, tax and customs exemptions and flexible facilities related to employment of foreign manpower as per the type of activity. He said that there are promising investment opportunities in a number of sectors which witness increasing local demand such as building materials, food industries, medical equipment and renewable energy technologies among others. On the legal procedures for cancellation or transfer of the shares of partners in the joint stock companies when they are outside Oman, he said that the law allows the use of official attested authorisations for this purpose. The authorisations could be issued in China attested by Oman Embassy in China and through the Investors Services Portal in case of implementation of some online procedures, he added.