Latest news with #OmanTourismDevelopmentCompany
Muscat Daily
3 days ago
- Business
- Muscat Daily
Omran earns RO25.2mn profit; RO156mn FDI in 2024
Muscat – Oman Tourism Development Company (Omran Group) has reported net profit of RO25.2mn and revenues exceeding RO58.3mn for 2024, driven by increased operational efficiency and investment activity. The figures reflect the group's growing impact on Oman's tourism sector and its broader contribution to economic diversification. The performance update was shared during a recent Board of Directors meeting, where members reaffirmed their commitment to strengthening Omran's role as a leading force in tourism investment and development. Omran secured over RO156mn in foreign direct investment (FDI) last year, underscoring its ability to attract strategic global partnerships. The inflow of capital supports national efforts to increase the contribution of non-oil sectors to the GDP, a press release stated. A total of 820,365 guests stayed across Omran's hotel portfolio in 2024 – a 6% increase from the previous year. The average occupancy rate reached 45%, up by 2.6 percentage points year-on-year. A key milestone was the official opening of JW Marriott Muscat, adding to the sultanate's luxury hotel offerings. The group announced several new projects to strengthen Oman's position in high-end tourism. These include the Middle East's first Club Med Resort in Musandam and a partnership with Santani Wellness Resorts to develop wellness tourism in Dakhliyah. Omran also reported a 40% In-Country Value Index in 2024, with RO19mn directed towards small and medium enterprises. SME spending accounted for 34.7% of total procurement. Additionally, the group created 370 new jobs for Omani nationals. As part of its corporate governance goals, Omran introduced an Environmental, Social and Governance Framework to align with international sustainability standards and improve transparency across its operations. 'Omran's results underline its role as a key driver of tourism and investment in Oman. Through strategic partnerships, large-scale projects and a focus on sustainability, the group continues to position itself at the centre of the sultanate's economic diversification strategy,' the press release added.
Observer
5 days ago
- Business
- Observer
Omran Group pulls in RO 156m in FDI in 2024
The Oman Tourism Development Company (Omran Group) has announced strong financial and operational results, underscoring the Group's sustained efforts and corporate excellence in advancing tourism development and supporting sustainable economic growth in the Sultanate of Oman, in close collaboration with key stakeholders. In 2024, the Group recorded a net profit of RO 25.2 million and total revenues exceeding RO 58.3 million, reflecting operational efficiency and the high standards of excellence embraced across its business operations. These achievements were presented during the Group's recent Board of Directors meeting, where the Board reaffirmed its continued commitment to reinforcing the Group's role in advancing economic diversification and amplifying its impact as a key catalyst for tourism development and investment in the Sultanate. Demonstrating its ability to attract high-quality investments, Omran Group secured over RO 156 million in Foreign Direct Investment (FDI) during 2024. This achievement aligns with Oman Vision 2040 and the national efforts to boost FDI inflows and enhance the contribution of various economic sectors to the GDP. In the hospitality sector, the Group continued to demonstrate operational excellence, welcoming 820,365 guests across its hotel portfolio in 2024 — a 6 per cent increase compared to the previous year. The portfolio achieved an average occupancy rate of 45 per cent, marking a 2.6 per cent increase year-on-year. A major milestone was achieved with the official opening of JW Marriott Muscat, further enriching the luxury hospitality landscape in the Sultanate of Oman. As part of its efforts to position Oman as a premier luxury tourism destination on the global map and to attract the world's leading hospitality brands, Omran Group announced several strategic projects, most notably the Middle East's first Club Med Resort that will be developed in Musandam, and the signing of a strategic partnership with Santani Wellness Resorts to introduce wellness tourism in Al Dakhiliyah Governorate. Reinforcing its commitment to sustainability and local value creation, the Group achieved a 40 per cent In-Country Value Index in 2024, with total spending exceeding RO 19 million in support of SMEs, which accounted for 34.7% of overall procurement spending. Furthermore, the Group created 370 new job opportunities for local talents, achieving an Omanisation rate of 94% within Oman Tourism Development Company SAOC and 53 per cent across the Group, highlighting its dedication to empowering national talent and supporting the local economy. In line with its vision to enhance corporate governance practices, Omran Group launched its Environmental, Social, and Governance (ESG) Framework during the year, reinforcing its commitment to global sustainability standards, transparency, and excellence across all its operations and projects. The positive results achieved by Omran Group in 2024 reaffirm its leading role as a catalyst for tourism development in the Sultanate of Oman. Through pioneering projects, strategic partnerships, and innovative initiatives, the Group continues to strengthen its position and contribute to Oman's journey towards a diversified and sustainable economy
Observer
5 days ago
- Business
- Observer
OMRAN Group achieves robust 2024 results, reinforcing its role in tourism development
Muscat: The Oman Tourism Development Company (OMRAN Group) has announced strong financial and operational results, underscoring the Group's sustained efforts and corporate excellence in advancing tourism development and supporting sustainable economic growth in the Sultanate of Oman, in close collaboration with key stakeholders. In 2024, the Group recorded a net profit of RO 25.2 million and total revenues exceeding RO 58.3 million, reflecting operational efficiency and the high standards of excellence embraced across its business operations. These achievements were presented during the Group's recent Board of Directors meeting, where the Board reaffirmed its continued commitment to reinforcing the Group's role in advancing economic diversification and amplifying its impact as a key catalyst for tourism development and investment in the Sultanate. Demonstrating its ability to attract high-quality investments, OMRAN Group secured over RO 156 million in Foreign Direct Investment (FDI) during 2024. This achievement aligns with Oman Vision 2040 and the national efforts to boost FDI inflows and enhance the contribution of various economic sectors to the GDP. In the hospitality sector, the Group continued to demonstrate operational excellence, welcoming 820,365 guests across its hotel portfolio in 2024 — a 6% increase compared to the previous year. The portfolio achieved an average occupancy rate of 45%, marking a 2.6% increase year-on-year. A major milestone was achieved with the official opening of JW Marriott Muscat, further enriching the luxury hospitality landscape in the Sultanate of Oman. As part of its efforts to position Oman as a premier luxury tourism destination on the global map and to attract the world's leading hospitality brands, OMRAN Group announced several strategic projects, most notably the Middle East's first Club Med Resort that will be developed in Musandam, and the signing of a strategic partnership with Santani Wellness Resorts to introduce wellness tourism in Al Dakhiliyah Governorate. Reinforcing its commitment to sustainability and local value creation, the Group achieved a 40% In-Country Value Index in 2024, with total spending exceeding RO 19 million in support of SMEs, which accounted for 34.7% of overall procurement spending. Furthermore, the Group created 370 new job opportunities for local talents, achieving an Omanisation rate of 94% within Oman Tourism Development Company SAOC and 53% across the Group, highlighting its dedication to empowering national talent and supporting the local economy. In line with its vision to enhance corporate governance practices, OMRAN Group launched its Environmental, Social, and Governance (ESG) Framework during the year, reinforcing its commitment to global sustainability standards, transparency, and excellence across all its operations and projects. The positive results achieved by OMRAN Group in 2024 reaffirm its leading role as a catalyst for tourism development in the Sultanate of Oman. Through pioneering projects, strategic partnerships, and innovative initiatives, the Group continues to strengthen its position and contribute to Oman's journey towards a diversified and sustainable economy.
Observer
22-05-2025
- Business
- Observer
Omran and Al Dhahirah sign MoU to develop Ibri View project
MUSCAT, MAY 22 Oman Tourism Development Company (OMRAN Group) has signed a Memorandum of Understanding (MoU) with Al Dhahirah Governorate to develop the highly anticipated 'Ibri View' project. The agreement, which aligns with the goals of Oman Vision 2040, marks a new milestone in the country's commitment to creating vibrant tourism destinations across the Sultanate. The signing of the MoU reflects a strategic partnership aimed at transforming the Ibri View concept into a fully realised tourism and lifestyle destination. By collaborating with local authorities, OMRAN Group aims to tap into the region's natural and economic potential while fostering community engagement, sustainable practices, and long-term investment opportunities. The Ibri View project, also known as 'Etalat Ibri', first gained national attention last year when it was named the best proposed development in a competition organised by the Ministry of Housing and Urban Planning. Located in the Al Salif area of wilayat Ibri, the project was hailed for its vision and alignment with sustainable development principles, reflecting Oman's commitment to uplifting living standards across its governorates. Commenting on the project's recognition, Najeeb bin Ali Rawas, Governor of Dhahirah, stated that the award reflects the Governorate's ambition to fulfill the sustainable development objectives outlined in Oman Vision 2040. 'The project is poised to deliver significant social and economic benefits to the local community, including job creation, economic stimulation, infrastructure enhancement, and community integration,' he said. Spread across 2 million square metres, the Ibri View project is planned with a total investment of RO183 million. The Ministry of Finance has earmarked RO10 million for the first phase, a strong indicator of the government's support for advancing infrastructure and stimulating regional growth. The development will feature a blend of residential, commercial, and leisure facilities including three hotels, a shopping centre, residential areas, green spaces, a youth centre, and other recreational amenities. Environmental sustainability is at the core of the project's design, with elements such as renewable energy solutions, green construction practices, smart infrastructure, and sustainable transport systems integrated from the outset. Rawas also highlighted the project's role in enhancing Ibri's identity as a prominent commercial and entertainment hub in the region. 'The first phase, expected to be completed within two years, is designed to create an inclusive space for social interaction and economic activity while preserving local heritage and environmental integrity.' In addition to transforming the physical landscape, Ibri View is expected to generate both direct and indirect employment across various sectors, including construction, retail, hospitality, maintenance, and services. The project will also serve as a platform for small and medium enterprise (SME) development, further embedding sustainability into the local economy. With the signing of the MoU, OMRAN Group and Al Dhahirah Governorate have taken a significant step toward turning a visionary plan into a catalyst for regional growth—one that positions Ibri as a model for future development across the Sultanate.
Observer
12-05-2025
- Business
- Observer
RO 44m eco-tourism projects to be set up in seven nature reserves
Muscat: At a cost of more than RO 44 million, nine environmental investment projects are set to be established in seven reserves as the Environment Authority (EA) signed contracts for eco-tourism investment projects in nature reserves at a ceremony held on Monday. The Environment Authority signed four contracts with the Oman Tourism Development Company (Omran) to develop, operate and manage four nature reserves. It also signed two other agreements with the same company to develop and operate the Lajshlion site in the Jabal Samhan Reserve and the Hayur site in the Wilayat of Mirbat. Additionally, it signed two environmental investment contracts for two sites in the Jabal Shams Starlight Reserve to establish an eco-tourism resort with Madar Resorts Company and a Star Garden project with the Omani Society for Astronomy and Space. The Authority also signed another contract with Al Majal Integrated Establishment to develop the Khor Al Mughsail Reserve in Salalah, Dhofar Governorate. Dr Abdullah bin Ali al Amri, Chairman of the Environment Authority, stated, 'These agreements will pave the way for eco-tourism in the country and further develop the partnership between the Environment Authority and the private sector. The projects are expected to be completed in two to four years. Some nature reserves already have ongoing activities. Once completed, the projects could bring job opportunities.' He added that the local community will have opportunities for economic activities. 'This is also a way to foster a connection between biodiversity, the local community and visitors,' he said. The official signing ceremony took place under the auspices of Salim bin Mohammed al Mahrouqi, Minister of Heritage and Tourism. The goal is to promote sustainable development, protect ecosystems, promote tourism and environmental education, increase revenues, diversify sources of income, and ensure the sustainability of natural resources for future generations. Dr Al Amri explained that these projects include the establishment of eco-tourism resorts, a star park, eco-lodges, eco-tourism camps, visitor centres, interactive exhibitions, restaurants and cafes, viewing trails, safaris, adventure tourism in nature reserves, and an open sea turtle pond and lake. 'This investment in eco-tourism aims to protect and preserve the natural heritage in nature reserves and ensure its sustainability for future generations.' The investment activities and packages in nature reserves were selected according to specific controls, standards and general conditions consistent with their management, operation and development plans. These include: the ability to prepare, implement and manage tourism and environmental activities or projects; attaching the required plans, documents, designs and explanatory maps; and following best practices. The projects will be implemented in Jabal Samhan Reserve and Hayur site in the Wilayat of Mirbat, Dhofar Governorate, the Ras Al Shajar Nature Reserve in the Wilayat of Qurayat, Muscat Governorate, the Wetlands Reserve in Al Wusta Governorate, the Natural Turtle Reserve in Al Sharqiyah South Governorate, and the Arabian Oryx Reserve in Al Wusta Governorate.
