Talaat Moustafa Group’s RO1.54 Billion Investment in Oman: Key Implications for Local Businesses and Investors
Talaat Moustafa Group Partners with Oman for Major Development Projects
Egypt’s Talaat Moustafa Group (TMG) has reached an agreement with the Ministry of Housing and Urban Planning to initiate two significant projects valued at RO1.5 billion ($3.89 billion). These developments are set to provide nearly 13,000 residential and hotel units, connected via an electric train system, according to a company statement.
The agreement was formalized on May 19, 2025, by 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 projects will span over 4.9 million square metres of land, located west of Muscat, the capital of Oman. The first project involves transforming a 2.7 million square metre site in Sultan Haitham City into a smart residential area equipped with integrated services. TMG indicated that this development will follow the successful model of its Madinaty project and similar initiatives in Egypt.
This residential community will feature a variety of villas and apartments, alongside a social and sports club occupying 190,000 square metres. Additionally, there will be commercial and service areas covering 140,000 square metres. Conveniently, the project lies just minutes from Muscat International Airport.
The second project will convert a 2.2 million square metre area along the Al-Shakhakhit coast into a prominent tourism destination. This site boasts a 1,760-metre beachfront along the Sea of Oman, positioned directly west of Beit al Baraka Palace. Planned features include a yacht marina, a tourist hotel, beachfront villas, and residential apartments linked by artificial lakes.
Located roughly 4 km from Sultan Haitham City and close to Muscat International Airport, this tourism project is also adjacent to the 215,000 square metre Al Naseem Heritage and Entertainment Park, which will provide ample green spaces and scenic views for residents and visitors.
Talaat Moustafa Group emphasized that both projects will allocate over 50% of their total area to expansive green spaces and open areas. Furthermore, they will offer a range of services, including religious, health, entertainment, and sports facilities, as well as seasonal commercial activities. The developments will also integrate smart technologies for enhanced management and operational efficiency.
Special Analysis by Omanet | Navigate Oman’s Market
The recent agreement between Egypt’s Talaat Moustafa Group and Oman’s Ministry of Housing signals a substantial investment opportunity worth RO1.5 billion, poised to transform both the residential and tourism landscapes of Muscat. Businesses in Oman should consider this a pivotal moment for strategic partnerships and investment in real estate, particularly in sectors that align with smart technologies and sustainable development. Smart investors should focus on leveraging the anticipated growth in residential, hospitality, and tourism sectors while being mindful of the competition and the need for sustainable practices in this evolving market.
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