Luma Residences Unveiled with RO 20 Million Investment: What This Means for Real Estate Investors in Oman
MUSCAT, JANUARY 12, 2026 – Muscat Bay, a premier destination in Oman, announced its latest residential development, Luma Residences, in a ceremony overseen by Dr. Khalfan bin Said al Shueili, Minister of Housing and Urban Planning. The project, valued at RO 20 million, marks a significant enhancement to the Sultanate’s integrated community developments within one of its foremost residential and tourism hubs.
Luma Residences features approximately 240 freehold units, including apartments, townhouses, and villas, spread over 37,000 square meters. This integrated community is designed to align with the Oman Vision 2040, emphasizing sustainability, urban planning excellence, and the harmonious blending of modern living with the natural environment.
Dr. Khalfan al Shueili highlighted that the project exemplifies Oman Vision 2040’s objectives by fostering sustainable urban communities and strengthening public-private partnerships to promote balanced development and improve quality of life.
Serving as an extension of Muscat Bay’s ongoing growth, Luma Residences follows the success of previous developments such as the “Zain” project launched in 2024, which achieved approximately 90% sales and is set to begin unit handovers this year.
The launch event also included the signing of financing agreements with ahlibank, supporting both the development of Luma Residences and facilitating homeownership for buyers of various nationalities—broadening the project’s accessibility and appeal.
Saif bin Sulaiman al Yaarubi, Acting CEO of Omran Group, remarked that Luma Residences contributes to Oman’s efforts to develop integrated tourism and residential destinations, bolstering the national tourism strategy and delivering sustainable long-term economic benefits.
Hamoud bin Sultan al Hosni, CEO of Muscat Bay, stated that the new phase represented by Luma Residences has already generated over 50% confirmed bookings in its early stages, reflecting strong market confidence and the project’s meticulous planning and execution.
In alignment with national sustainability goals, including zero carbon neutrality by 2050, the development incorporates energy-efficient design, integrated water and waste management, and abundant green spaces. The architectural concept, inspired by light—the interplay of sunlight with mountain permanence and the sea’s fluidity—forms the foundation of the project’s identity and residential experience.
Luma Residences stands as a modern, sustainable residential community setting a benchmark for quality living in Oman.
Special Analysis by Omanet | Navigate Oman’s Market
The launch of Luma Residences in Muscat Bay, backed by a RO 20 million investment and strong sales momentum, signals robust growth in Oman’s integrated residential-tourism developments aligned with Vision 2040. For businesses, this means significant opportunities in sustainable urban development and green technologies, while investors should consider the expanding market of high-quality, eco-conscious real estate appealing to both local and international buyers. Smart entrepreneurs and investors must leverage partnerships and financing solutions to capitalize on this rising demand for integrated, sustainable living environments that support Oman’s long-term economic and environmental goals.
