Latest news with #KhalfanalShueili
Observer
20-05-2025
- Business
- Observer
Egypt's Talaat Moustafa Group to invest RO1.54 billion in Oman
Egypt's Talaat Moustafa Group (TMG) and the Ministry of Housing and Urban Planning have agreed to develop two projects for RO1.5 billion ($3.89 billion). The two projects will house nearly 13,000 residential and hotel units and will be linked by an electric train, the company said in a statement. The signatories were Khalfan al Shueili, the 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. 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 Sea 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 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 plan 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.
Muscat Daily
08-03-2025
- Business
- Muscat Daily
Salalah New City masterplan unveiled
Work on waterfront development set to commence later this year Muscat – Ministry of Housing and Urban Planning has revealed a masterplan for redevelopment of Salalah's waterfront, a key project in Oman's RO33bn development pipeline under Oman Vision 2040. The Salalah New City waterfront development is set to commence later this year. Covering 7.3sqkm, the project is designed by international design firm Sasaki and will feature over 12,000 residential units, housing 60,000 residents in four walking distance neighbourhoods. Khor Park The development prioritises mixed-use spaces, with focus on soft mobility, and will include 3.5mn sqm of open space and parks, 200,000sqm of retail and hospitality space, 100,000sqm of cultural amenities, two hospitals, and integrated transport links. A pedestrianised marina will offer retail, tourism and hospitality facilities. A key feature of the plan is a 6km public beach, aimed at enhancing Salalah's appeal as a year-round coastal destination. The design also incorporates climate resilience measures to address rising sea levels and flooding, particularly during khareef. These include a wetland park, revetments and natural infrastructure solutions to mitigate extreme weather impacts. Neighbourhood Square The waterfront development is part of the Greater Salalah Structural Plan, which aims to improve liveability, infrastructure and mobility, while accommodating the city's projected population growth to 674,000 by 2040. The project will be developed in phases, with the first phase delivering 5,827 residential units. It is expected to generate a 10.2% return for developers. The waterfront initiative aligns with Oman's broader economic diversification goals and target of RO51bn in tourism investment by 2040. This follows an investment of RO7.8bn between 2021 and 2023. Oman aims to increase tourism's contribution to the GDP to 5% by 2030 and 10% by 2040. Marina Waterfront H E Dr Khalfan al Shueili, Minister of Housing and Urban Planning, said, 'With works due to begin this year, we look forward to bringing Salalah New City to fruition with the Omani people and leading international partners, investors and developers.' Romil Sheth, Principal Designer at Sasaki Associates, described Salalah as 'blessed with incredible natural features and a deep history – lush wadis, local agriculture embedded in the city and an extensive coastline with sandy beaches'. To complement these 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. The plan will serve as Oman's living laboratory for urban innovation and a model for sustainable urbanism in the broader region'. Culture Park
