Egypt’s Talaat Moustafa Group (TMG) has partnered with Oman’s Ministry of Housing and Urban Planning to launch two major real estate developments west of Muscat, with a total investment of 1.5 billion Omani Rials (approximately $3.89 billion).
Located on adjacent plots, the projects will feature nearly 13,000 residential and hospitality units connected by an electric train, according to a company statement.
The residential project, inspired by TMG’s Madinaty and other Egyptian ventures, will span 2.7 million square meters in Sultan Haitham City. It will include villas, apartments, a 190,000 sqm social and sports club, and 140,000 sqm of commercial and service zones.
The tourism development will stretch across 2.2 million sqm along the Al-Shakhakhit coast, boasting a 1,760-meter beachfront on the Gulf of Oman. It will feature a yacht marina, a luxury hotel, seafront villas linked by man-made lakes, as well as chalets and apartments.
This marks TMG’s second international expansion after its Banan City project in Saudi Arabia, a 10 million sqm development northeast of Riyadh.
Source: Zawya Projects
