MoU Signed for New Mixed-Use Destination in Duqm: Key Business Opportunities for Investors and Entrepreneurs in Oman
MUSCAT: A new integrated tourism, residential, and commercial development is planned for the Special Economic Zone in Duqm, aimed at establishing this southeastern region of Oman as a modern and sustainable urban destination. This initiative supports the country’s expanding investment and tourism sectors.
A Memorandum of Understanding (MoU) was signed between the Oman Company for the Development of Special Economic Zone SAOC (Tatweer), a fully owned entity of the Public Authority for Special Economic Zones and Free Zones (OPAZ), and Al Abrar Real Estate, a subsidiary of Al Siyabi International Group.
The project seeks to create a vibrant mixed-use area that integrates hospitality, residential living, business, and leisure facilities. It will feature premium tourism services, modern housing communities, commercial districts, and public amenities designed to improve quality of life while enhancing Duqm’s appeal as a key destination for investors and visitors.
Tatweer, established in 2014, plays a pivotal role in developing Oman’s special economic and free zones, managing critical infrastructure including ports, roads, and utilities to ensure efficient and sustainable growth aligned with national economic goals.
Eng Abdullah al Wahaibi, CEO of Tatweer, highlighted Duqm’s potential as a major tourism destination, citing its natural diversity—from beaches and valleys to mountains—as a strong draw for visitors. He also emphasized Tatweer’s commitment to supporting local businesses, noting that over 80 percent of projects in Duqm are awarded to small and medium-sized enterprises (SMEs), fostering inclusive growth and a resilient local economy.
On investment priorities, Al Wahaibi pointed to Tatweer’s focus on sustainable sectors such as renewable energy, green hydrogen, and green steel, aiming to develop local companies in these fields.
Al Abrar Real Estate is a prominent developer in Oman, known for major projects including Sultan Haitham City—the country’s largest urban development—Barka Marina, and the Al Khabbah Project in Al Sharqiyah South Governorate.
This partnership between Tatweer and Al Abrar Real Estate embodies a shared vision to elevate Duqm as a vital hub for tourism and investment, in line with Oman Vision 2040 and the nation’s broader economic diversification strategy.
Special Analysis by Omanet | Navigate Oman’s Market
The new integrated tourism, residential, and commercial project in Duqm’s Special Economic Zone signals significant growth opportunities for Oman’s real estate and tourism sectors, positioning Duqm as a sustainable urban and investment hub. Businesses should capitalize on the rising demand for mixed-use developments and premium tourism amenities, while investors must consider the long-term potential of Duqm as a strategic gateway aligned with Oman Vision 2040. Moreover, the emphasis on supporting SMEs and sustainable industries like renewable energy and green hydrogen highlights emerging sectors where smart entrepreneurs can gain competitive advantages.
