Talaat Moustafa and Ministry of Housing sign 1.5B Omani riyals real estate and tourism deal
Mr. Hisham Talaat stated that the total investment value of the two projects amounts to approximately 1.5 billion Omani Riyals and will provide about 13,000 residential and hotel units across over 4.9 million square meters. 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 million square meter 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 models of villas and apartments, in addition to 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 million square meters 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 million square meter development northeast of Riyadh.
Talaat Moustafa Group: Egypt's foremost real estate and tourism developer
Talaat Moustafa Group is the largest real estate and tourism developer in Egypt and one of the leading integrated institutions in Egypt and the Middle East. Over nearly 55 years, TMG has successfully established self-sustaining, integrated-services urban cities and communities across Egypt. Examples include Madinaty, Al Rehab, and Noor in East Cairo, with upcoming projects like SouthMED in the northwestern coast of Egypt and Banan City in Riyadh, Saudi Arabia.
Talaat Moustafa Group has reached a new milestone with cumulative real estate sales exceeding one trillion Egyptian pounds, underscoring its position as Egypt's leading real estate entity and the significant trust of its over 200,000 clients. The Group also possesses Egypt's largest land portfolio, now over 107 million square meters, and its projects are home to more than 1.5 million residents.
Talaat Moustafa has also significantly advanced tourism development by creating unprecedented international-standard projects under the "Four Seasons" brand in Sharm El Sheikh, Cairo, and Alexandria, alongside the Kempinski Nile Hotel in Cairo. Currently, the Group is developing three additional hotels in Luxor, Madinaty, and Marsa Alam.
Additionally, the Group is undertaking the renovation and development of seven historic hotels: Sofitel Legend Old Cataract Aswan, Mövenpick Resort Aswan, Sofitel Winter Palace Luxor, Steigenberger El Tahrir Hotel, Steigenberger Cecil Alexandria Hotel, Marriott Mena House Cairo, and Marriott Omar Khayyam Zamalek. Talaat Moustafa Group has also commenced the implementation of the first hotel under the global "Four Seasons" brand on Egypt's North Coast within its new SouthMED project.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Times of Oman
an hour ago
- Times of Oman
Meetings to discuss detailed budget estimates for fiscal year 2026 concludes
Muscat: The Ministry of Finance on Monday concluded meetings to discuss the detailed budget estimates of government entities for the fiscal year 2026 and the financial framework of the 11th Five-Year Development Plan (2026-2030). These meetings are part of the Ministry of Finance's commitment to aligning the financial requirements of government entities with annual plans and preparing the draft state budget for the fiscal year 2026, as well as preparing for the 11th Five-Year Development Plan (2026-2030). The meetings aimed to examine the current status of the state budget's implementation for the fiscal year 2025, discuss the recurrent and development budget estimates submitted by government entities for the next fiscal year and align them with the entities' annual plans, and prepare budget documents based on a program- and performance-based budget. Additionally, the meetings discussed the initial estimates for the financial framework of the 11th Five-Year Development Plan (2026-2030), in a way that achieves the annual goals of government entities and the social and economic objectives of the upcoming five-year development plan, in line with the national goals and programs of "Oman Vision 2040". More than 68 meetings were held at various senior and executive administrative levels. Some estimates were also discussed at the ministerial level, based on the nature of new projects or additional social and economic requirements of the upcoming five-year plan. These meetings were held as part of the Ministry of Finance's keenness to prepare the draft state budget in an integrated manner with various government entities, enhancing consistency between financial requirements and the goals of annual plans. This is in line with the government's direction toward achieving spending efficiency and the sustainability of public finance indicators. The Ministry of Finance affirmed that the government is moving forward with supporting the social and economic sectors through a balanced approach that links social and economic requirements with available financial resources and alternatives.
Times of Oman
an hour ago
- Times of Oman
Oman, Egypt sign energy agreement
Cairo: The Embassy of Oman in Cairo on Monday witnessed the signing of an Omani-Egyptian private-sector partnership agreement in the energy field. The partnership focuses on exchanging expertise, transferring technology, and developing high-quality products in line with the highest environmental standards, serving local, regional, and international markets. Abdullah Nasser Al Rahbi, Ambassador of Oman to Egypt and its Permanent Representative to the Arab League, affirmed: 'We continue working to translate our shared history into tangible economic and developmental partnerships that serve the aspirations of both nations and drive sustainable development within a strategic framework that fosters innovation and enhances added value.' This partnership paves the way for further cooperation, joint projects, and contributions in delivering innovative solutions to support the infrastructure of the two countries.
Times of Oman
3 hours ago
- Times of Oman
Tourist trail inaugurated at Razat Royal Farm in Salalah
Salalah — Razat Royal Farm in the Wilayat of Salalah, Dhofar Governorate, has begun welcoming visitors to its newly inaugurated tourist trail, which was opened this evening. The trail offers an opportunity to explore the farm's diverse agricultural spaces, tropical and ancient trees, and various farm products, establishing it as a comprehensive tourist destination managed with precise technical and scientific standards. Accompanied by tour guides, visitors began their journey through several stations introducing them to different crops and plants, culminating in an integrated station that brings together the farm's components in one location, complete with rest facilities and services. The farm boasts a wide agricultural diversity, including varieties of bananas—among them the "Razat" banana—alongside a banana gene bank and a ripening unit. It is also home to coconut, papaya, grape, fig, custard apple, and Omani lemon trees, in addition to tropical and subtropical fruits and various vegetables. The farm further features indigenous trees such as frankincense and fig, as well as ancient species like baobab, giant ficus, and tamarind, alongside medicinal and aromatic plants including turmeric, ginger, and basil. Additionally, the farm serves as a sanctuary for birds and houses a historic agricultural jar dating back to the era of Sultan Said bin Taimour. The farm is irrigated by the Razat spring through a network of traditional and modern aflaj (irrigation channels). The trail's opening reflects a broader commitment to supporting agritourism and enhancing food security. The Royal Court Affairs has ensured the tourist trail offers an enriching experience for visitors while highlighting agriculture's role as a pillar of sustainable development. Razat Royal Farm is located on Sultan Qaboos Street in the eastern part of Salalah. Spanning approximately 1,085 acres—900 of which are cultivated—it stands as one of the most prominent sites under the Royal Court Affairs, combining agricultural production with ecological and historical diversity.
