Latest news with #OmranGroup
Muscat Daily
2 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.
Zawya
3 days ago
- Business
- Zawya
Oman: Omran Group pulls in $405mln 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 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
4 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
Times of Oman
4 days ago
- Business
- Times of Oman
Omran Group reports strong financials with OMR25mn net profit in 2024
Muscat: Oman Tourism Development Company (Omran Group) announced robust financial and operational results for 2024, reaffirming its central role in advancing tourism development and sustainable economic growth in the Sultanate of Oman. The Group achieved a net profit of OMR25.2 million with revenues surpassing OMR58.3 million, reflecting its operational efficiency and institutional excellence. During its recent meeting, Omran Group's Board of Directors reviewed these accomplishments and discussed ongoing financial and operational developments. The Board emphasised the Group's continued commitment to supporting economic diversification efforts and enhancing quality tourism investments across Oman. The financial results demonstrate Omran Group's success in attracting strategic investments, including foreign direct investment exceeding OMR156 million in 2024. This achievement aligns with Oman Vision 2040's objectives to increase foreign investment inflows and expand various economic sectors' contributions to GDP. In the hospitality sector, Omran Group strengthened its operational performance by welcoming 820,365 guests across its hotel properties in 2024, representing 6% growth compared to the previous year. The Group achieved an average occupancy rate of 45%, marking a 2.6% year-on-year increase. The year also saw the official opening of JW Marriott Hotel Muscat, which has become a distinguished addition to Oman's luxury hospitality landscape. As part of its strategy to position Oman as a premier global tourism destination and attract world-class hospitality brands, Omran Group announced several landmark projects. These include a partnership to develop the Middle East's first Club Med resort and a strategic collaboration with Santani Wellness Resorts to enhance medical tourism in Al Dakhiliyah Governorate. Demonstrating its commitment to sustainability and local value creation, Omran Group achieved a 40% local value-added index. The Group allocated over OMR19 million to support small and medium enterprises, which accounted for 34.7% of total expenditure. Omran Group's nationalisation efforts resulted in 370 new job opportunities for Omani talent, with Omanisation rates reaching 94% in the parent company and 53% across subsidiaries. The Group further strengthened its corporate governance practices by launching its Environmental, Social, and Governance (ESG) Framework in 2024. This initiative institutionalizes sustainability principles and enhances transparency while adhering to global best practices across all operations and projects. These positive results underscore Omran Group's continued leadership as the primary driver of tourism sector development in Oman, achieved through close collaboration with relevant authorities including the Ministry of Heritage and Tourism.
Zawya
26-05-2025
- Business
- Zawya
Oman: Tourism-integrated real estate poised for strong growth
Real estate is a promising and enabling sector for implementing investment opportunities. Tourism-integrated real estate projects in Oman are poised for strong growth and will be one of the major contributors to the GDP besides being a job creator, thanks to the country's strategic focus on sustainable tourism. In addition, this sector is a promising and enabling sector for implementing investment opportunities, supported by the readiness of the basic infrastructure system of roads, electricity, water, sewage which is all set to grow in leaps and bounds, according to Muriya Tourism Development. Muriya is a Joint venture between Orascom Development and Omran Group; and is the largest and most diversified private integrated real estate and tourism developer committed to contributing to the development of the Sultanate of Oman. Speaking to the Observer on the sidelines of the recently held Oman Real Estate Exhibition, Wael al Lawati, CEO of Muriya Tourism Development said that tourism-integrated real estate in Oman is poised for strong growth, driven by the rising demand for destinations that combine lifestyle, hospitality and investment. 'The fact is that tourism-integrated real estate projects in Oman are heading towards strong growth and will be one of the major contributors to the GDP besides being a job creator. This is possible because the country has been paying a very strategic focus on sustainable tourism,' he said. Through a successful partnership between the internationally acclaimed builder of fully-integrated towns, Orascom Development Holding (ODH) and Oman Tourism Development Company (OMRAN), the leading executive government arm for tourism development in the Sultanate of Oman, Muriya has been developing many ITC projects at an investment of over $750 million in Oman and they include Hawana Salalah and Jebel Sifah, which include hotels, marinas and recreational facilities. These successful partnerships have been a major contributor to the tourism sector and have resulted in 1,200 operating hotel rooms in 6 years, 420,000 hotel guest nights in 2019, over 1,000 homeowners, creating thousands of direct and indirect jobs; and supporting local businesses, contributing to Oman's economic diversification and tourism growth. 'Through Muriya, we strengthen Oman's international presence as a high-potential tourism and investment hub while supporting job creation and community engagement through sustainable developments,' Al Lawati said. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
