An agreement has been signed in Oman for the development of an integrated tourism complex in the Al Bustan area of Muscat. The project is valued at OMR 150 million, or approximately $389–390 million. The agreement was concluded between Oman’s Ministry of Heritage and Tourism and Omran Group, the country’s state-owned tourism and development company.

📍 The project will be developed on a site of حوالي 138,000 sq. m. The announced construction timeline is four years.

The development is a mixed-use project with a strong focus on both tourism and residential components. Key features include:

— a 200-room hotel;
— 91 branded residential units in a freehold format;
— a marina;
— a yacht club;
— restaurants;
— retail spaces;
— service and engineering infrastructure.

📜 The agreement was signed by Minister of Heritage and Tourism Sayyid Ibrahim bin Said Al Busaidi and Omran Group CEO Ayad bin Ali Al Balushi.

📊 From a structural perspective, several aspects stand out. First, the inclusion of freehold residences indicates a format accessible to private buyers. Second, the combination of hospitality, residential, and coastal components reflects a focus on a higher-end waterfront product.

For the Muscat market, this is also a project of notable scale. At OMR 150 million, it ranks among the larger tourism-led developments announced at the end of March, while its location in Al Bustan reinforces its positioning as a premium coastal project.

🏡 You can explore available real estate opportunities in Oman for investment or living on our website.