Talaat Moustafa Group (TMG), Egypt’s top real estate developer, has signed a major agreement with the Ministry of Housing and Urban Planning in Oman to build two large-scale projects west of Muscat. This is a significant step in TMG’s regional expansion.
The deal which is worth about OMR 1.5 billion ($3.9 billion) was signed by Oman’s Minister of Housing and Urban Planning, H.E. Dr. Khalfan Al Shueili, and Mr. Hisham Talaat Moustafa, Chairman of TMG Muscat for Real Estate Development. It includes both residential and tourism-focused developments.
Together, the two projects will cover more than 4.9 million square meters and will be connected by a dedicated electric train, as shared by Mr. Moustafa.
Residential Project in Sultan Haitham City
The first development will be located on 2.7 million square meters of land in Sultan Haitham City. Inspired by TMG’s successful Madinat and Al Rehab communities in Egypt, it will offer villas and apartments, a 190,000 sqm social and sports club, and 140,000 sqm of shops and services. Its location near Muscat International Airport makes it convenient for both locals and international investors.
Tourism Project on Al-Shakhakhit Coast
The second project will span 2.2 million square meters along the Al-Shakhakhit coastline, just west of Beit al Baraka Palace. This beachfront destination will include 1,760 meters of shoreline on the Gulf of Oman and will feature a luxury hotel, yacht marina, sea-view villas and apartments, cabins, and artificial lakes. Only 4 km from Sultan Haitham City and close to the Al Naseem Heritage and Entertainment Park, it is expected to attract visitors from the region and beyond.
Focus on Green Spaces and Smart Living
More than half of the land in both of the projects are meant for green and open spaces. The communities are said to include the mosques, healthcare centers, commercial facilities, and entertainment areas. Advanced smart technologies will be used to manage operations efficiently and sustainably.
TMG’s Regional Growth Strategy
This is TMG’s second international project, following the launch of its 10 million sqm Banan City in Saudi Arabia, near Riyadh. The Oman projects reaffirm TMG’s commitment to developing fully integrated communities abroad, using the same successful approach it has in Egypt.
With over 50 years of experience, TMG is Egypt’s largest developer in both real estate and tourism. It has a land portfolio of more than 107 million square meters and has recorded over one trillion Egyptian pounds in real estate sales. Its developments, including Madinaty, Noor, and Al Rehab, are home to over 1.5 million residents.
TMG also partners with top global hospitality brands, such as Four Seasons and Kempinski, and is expanding its tourism portfolio with new hotels in Luxor, Madinaty, and Marsa Alam, while restoring historic hotels across Egypt.
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