Latest news with #KhalfanAlShueili
Zawya
22-05-2025
- Business
- Zawya
Hisham Talaat Moustafa eyes Oman as promising real estate, tourism investment hub
Egypt - Hisham Talaat Moustafa, CEO and Managing Director of Talaat Moustafa Group (TMG), has affirmed that the Sultanate of Oman holds a promising future for its real estate sector and is poised to be a regional real estate and tourism hub. Speaking at a dialogue session during the 20th edition of the Oman Real Estate Conference and Exhibition, Moustafa emphasised Oman's economic advantages, including political and economic stability, low inflation rates compared to many regional markets, and a flexible legislative environment that supports investor rights, as factors making it an attractive destination for real estate investment. Hisham Talaat Moustafa noted that TMG received full support for over a year from Omani Minister of Housing Khalfan Al Shueili and other officials. This collaboration culminated in the signing of an agreement between TMG and the Omani Ministry of Housing and Urban Planning to develop two real estate and tourism projects west of Muscat, the Omani capital. He elaborated that clear indicators point to an increasing demand for real estate in the Sultanate in the near future. Hisham Talaat Moustafa highlighted that over 65% of Oman's total population is aged from birth to 30 years, signifying a young demographic expected to fuel future demand for both housing and services. This demographic trend also suggests substantial annual growth within the real estate sector, creating broad opportunities for investment and development, he added. Talaat Moustafa Group aims to actively participate in developing integrated cities and projects in the Sultanate, keeping pace with this growth, Hisham Talaat Moustafa said. He stated this aspiration is backed by the Group's approximately 55 years of experience in real estate development, during which they have developed integrated cities housing over 1.5 million people. In the tourism sector, TMG possesses the largest hotel portfolio in Egypt, with over 5,000 hotel rooms and an additional 3,000 rooms currently under development, according to Moustafa. 'I invite all investors worldwide to turn their attention to the Sultanate of Oman, which represents a promising investment destination, not only in the real estate sector but also in the growing tourism sector, thanks to Oman's unique characteristics,' Hisham Talaat Moustafa stated during the conference. Ahmed Sabbour, Chairperson of Al Ahly Sabbour Developments, who also participated in the session, affirmed that the entry of Talaat Moustafa Group will encourage Egyptian real estate developers to join the Omani market. The conference was held under the patronage of Sayyid Bilarab bin Haitham Al Said at the Oman Convention and Exhibition Centre and saw significant participation from leading local and international investors, real estate developers, and experts and consultants in urban planning, urban development, and real estate development.
Times of Oman
20-05-2025
- Business
- Times of Oman
Talaat Moustafa and Ministry of Housing sign 1.5B Omani riyals real estate and tourism deal
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. 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 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.
Zawya
20-05-2025
- Business
- Zawya
TMG Holding unveils 2 development projects in Oman with expected sales of $4.7bln
Arab Finance: Talaat Moustafa Group Holding (TMG Holding) penned an agreement with the Omani Ministry of Housing and Urban Planning to establish two mixed-use development projects, with a projected sales value of $4.7 billion, according to a bourse disclosure. The agreement was signed by Khalfan Al-Shueili, Minister of Housing and Urban Planning of Oman, and Hisham Talaat Moustafa, Chairman of Talaat Moustafa Group Muscat for Real Estate Development. The deal aligns with the group's regional expansion strategy, which focuses on developing integrated residential cities. Located within the newly established Sultan Haitham City, the two development schemes span 2.7 million square meters and 2.2 million square meters, respectively. Upon completion, the projects are expected to contribute to the group's recurring income streams on a perpetual basis, with a value estimated at $54.8 million annually. The two projects are set to deliver around 12,900 residential units, including about 9,200 conventional and serviced apartments. This announcement reinforces TMG Holding's foreign exchange generation capabilities and expands its recurring income base, securing a natural hedge against local currency fluctuations. TMG Holding's consolidated profits hiked by 54.53% to EGP 3.693 billion in the first quarter (Q1) of 2025 from EGP 2.390 billion in Q1 2024.
Daily News Egypt
19-05-2025
- Business
- Daily News Egypt
Talaat Moustafa Group, Oman sign OMR 1.5bn real estate and tourism deal
Talaat Moustafa Group (TMG) and the Omani Ministry of Housing and Urban Planning signed an agreement on Monday for real estate and tourism projects valued at OMR 1.5bn west of Muscat. The signatories were Khalfan Al Shueili, the Omani Minister of Housing and Urban Planning, and Hisham Talaat Moustafa, Chairperson of the Board of Directors of Talaat Moustafa Group Muscat for Real Estate Development. The signing took place on 19 May 2025. Hisham Talaat Moustafa stated that the total investment value of the two projects amounts to approximately OMR 1.5bn. He noted that the ventures would provide about 13,000 residential and hotel units across more than 4.9m square metres. The two projects, situated on adjacent land plots west of Oman's capital, Muscat, will be linked by an electric train, Moustafa added. The first project involves developing a 2.7m square metre land plot in Sultan Haitham City into a smart, integrated-services residential area. Talaat Moustafa Group said this would mirror the model of its Madinaty project and other developments in Egypt. The residential project will feature diverse models of villas and apartments, a social and sports club covering an area of 190,000 square metres, and commercial and service areas spanning 140,000 square metres. The project is located minutes from Muscat International Airport. The second project will see an approximately 2.2m square metre land plot along the Al-Shakhakhit coast transformed into a tourism destination. The site, with a 1,760-metre beachfront on the Gulf of Oman, is directly west of Beit al Baraka Palace. This development will feature a yacht marina, a tourist hotel, villa areas with sea views linked by artificial lakes, as well as cabins and residential apartments. The tourism project is strategically located approximately 4 km from Sultan Haitham City and minutes from Muscat International Airport. It also intersects with the 215,000 square metre Al Naseem Heritage and Entertainment Park, which TMG said will provide vast green spaces and a distinctive view for various units of the project. According to Talaat Moustafa Group, both the real estate and tourism projects will dedicate over 50% of their total area to expansive green spaces and open areas. They are planned to offer comprehensive services, including religious, health, entertainment, and sports facilities, alongside daily and seasonal commercial offerings. The projects will also leverage smart technologies for management and operation. These Omani developments mark Talaat Moustafa Group's second venture outside Egypt. The company's initial international projects are in Saudi Arabia, including Banan City, a 10m square metre development northeast of Riyadh. Talaat Moustafa Group describes itself as the largest real estate and tourism developer in Egypt and one of the leading integrated institutions in Egypt and the Middle East. The company states that, over nearly 55 years, it has successfully established self-sustaining, integrated-services urban cities and communities across Egypt. Examples cited by TMG include Madinaty, Al Rehab, and Noor in East Cairo. Upcoming projects in Egypt include SouthMED on the northwestern coast. TMG also reported that its cumulative real estate sales have exceeded one trillion Egyptian pounds, underscoring its position in Egypt and the trust of its over 200,000 clients. The Group possesses an Egyptian land portfolio of over 107m square metres, and its projects are home to more than 1.5m residents, the company said. In the tourism sector, Talaat Moustafa Group has developed projects under the 'Four Seasons' brand in Sharm El Sheikh, Cairo, and Alexandria, alongside the Kempinski Nile Hotel in Cairo. The Group is currently developing three additional hotels in Luxor, Madinaty, and Marsa Alam. Additionally, TMG 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. The company has also commenced the implementation of the first hotel under the 'Four Seasons' brand on Egypt's North Coast within its new SouthMED project.
Trade Arabia
05-03-2025
- Business
- Trade Arabia
Oman unveils mega masterplan for redevelopment of Salalah
Oman's Ministry of Housing and Urban Planning has announced a mega masterplan for the redevelopment of the sultanate's second largest city, Salalah, covering 7.3 sq km, that will seek to further boost Salalah's attraction as a year-round sea and sun destination at the gateway between Asia, Europe and Africa, with the introduction of a new 6km-long public beach. Designed by leading international design studio Sasaki, the New City Salalah masterplan comprises over 12,000 residential units that can house 60,000 residents across four distinct, walkable neighbourhoods. Prioritising mixed-use and a soft-mobility focus throughout, it will also encompass 3.5 million sqm open space and parks, 200,000 sqm of retail and hospitality space and 100,000 sqm of cultural space and amenities, two new hospitals, and integrated, multimodal transport links. A new pedestrianised marina will host retail, tourism and hospitality offerings, stated the ministry. Part of the sultanate's RO33 billion ($85.4 billion) pipeline of development being delivered across the country as part of the Oman Vision 2040, the New City Salalah waterfront development will start on site later this year. The work on the New City Salalah waterfront development will start on site later this year. The ministry officials said the New City Salalah strikes a balance between celebrating the area's coastal context and protecting its unique natural features. A major focus on resilience to climate change has seen New City Salalah designed to withstand rising sea levels and flooding, particularly in consideration of the area's khareef monsoon season. This includes the introduction of wetland park and a series of revetments and natural infrastructure strategies which will mitigate the impacts of extreme weather events, it stated. The waterfront plans are an integrated part of the Greater Salalah Structural Plan, a structural framework to enhance liveability by resolving spatial, infrastructure and mobility issues, and increase capacity to cater to the growing Wilayat Salalah, projected to hit a population of 674,000 by 2040. The phased development approach will get underway later this year, with 5,827 residential units due to be delivered in Phase 1. The project is forecast to deliver developer returns of 10.2%. Unveiling the masterplan, Dr Khalfan Al Shueili, Minister of Housing and Urban Planning, Oman, said: "Our plans for the evolution of Salalah epitomise the Oman Vision 2040, designed to deliver a sustainable and prosperous future for the people of Oman. It serves as an exemplar of how combining tourism and urban development is driving the diversification of Oman's economy and bringing forward compelling opportunities for the international community." "Salalah is a beloved and important city that contributes significantly to our nation. These plans will help to ensure it can continue to serve our people and economy for many generations to come, while showcasing some of Oman's greatest strengths to visitors from across the globe," stated Al Shueili. "With works due to begin this year, we look forward to bringing New City Salalah to fruition alongside the Omani people and leading international partners, investors and developers," he noted. A two-hour flight from Dubai and 1.5 hour drive from Muscat, Salalah is already home to Oman's largest logistics port and is a popular tourist destination due to its access to nature and temperate climate, attracting over one million tourists in 2024. The master plan seeks to further enhance Salalah's attraction as a year-round sea and sun destination at the gateway between Asia, Europe and Africa, with the introduction of a new 6km-long public beach, he added. The project is a key part of the Oman Vision 2040 to achieve a developed, diversified, and sustainable national economy, with fair distribution of development gains and protection of natural resources. The nation is targeting RO51 billion in tourism investment by 2040, following a successful investment of RO 7.8 billion between 2021-23. Oman aims to double tourism's contribution to GDP to 5% by 2030 and again to 10% by 2040. Romil Sheth, Prinicipal Designer at Sasaki Associates, said: "Salalah is blessed with incredible natural features and a deep history. Lush wadis, local agriculture embedded into the city, an extensive coastline with sandy beaches." "To complement these significant assets, the Salalah New City plan adopts forward-looking urban design, place-making and planning practices that challenge status-quo urbanism and reflect an aspirational lifestyle for Dhofaris," he stated.
