Talaat Moustafa Group (TMG) and the Omani Ministry of Housing and Urban Planning signed an agreement on Monday for real estate and tourism projects valued at OMR 1.5bn west of Muscat. The signatories were Khalfan Al Shueili, the Omani Minister of Housing and Urban Planning, and Hisham Talaat Moustafa, Chairperson of the Board of Directors of Talaat Moustafa Group Muscat for Real Estate Development. The signing took place on 19 May 2025. Hisham Talaat Moustafa stated that the total investment value of the two projects amounts to approximately OMR 1.5bn. He noted that the ventures would provide about 13,000 residential and hotel units across more than 4.9m square metres. The two projects, situated on adjacent land plots west of Oman's capital, Muscat, will be linked by an electric train, Moustafa added. The first project involves developing a 2.7m square metre land plot in Sultan Haitham City into a smart, integrated-services residential area. Talaat Moustafa Group said this would mirror the model of its Madinaty project and other developments in Egypt. The residential project will feature diverse models of villas and apartments, a social and sports club covering an area of 190,000 square metres, and commercial and service areas spanning 140,000 square metres. The project is located minutes from Muscat International Airport. The second project will see an approximately 2.2m square metre land plot along the Al-Shakhakhit coast transformed into a tourism destination. The site, with a 1,760-metre beachfront on the Gulf of Oman, is directly west of Beit al Baraka Palace. This development will feature a yacht marina, a tourist hotel, villa areas with sea views linked by artificial lakes, as well as cabins and residential apartments. The tourism project is strategically located approximately 4 km from Sultan Haitham City and minutes from Muscat International Airport. It also intersects with the 215,000 square metre Al Naseem Heritage and Entertainment Park, which TMG said will provide vast green spaces and a distinctive view for various units of the project. According to Talaat Moustafa Group, both the real estate and tourism projects will dedicate over 50% of their total area to expansive green spaces and open areas. They are planned to offer comprehensive services, including religious, health, entertainment, and sports facilities, alongside daily and seasonal commercial offerings. The projects will also leverage smart technologies for management and operation. These Omani developments mark Talaat Moustafa Group's second venture outside Egypt. The company's initial international projects are in Saudi Arabia, including Banan City, a 10m square metre development northeast of Riyadh. Talaat Moustafa Group describes itself as the largest real estate and tourism developer in Egypt and one of the leading integrated institutions in Egypt and the Middle East. The company states that, over nearly 55 years, it has successfully established self-sustaining, integrated-services urban cities and communities across Egypt. Examples cited by TMG include Madinaty, Al Rehab, and Noor in East Cairo. Upcoming projects in Egypt include SouthMED on the northwestern coast. TMG also reported that its cumulative real estate sales have exceeded one trillion Egyptian pounds, underscoring its position in Egypt and the trust of its over 200,000 clients. The Group possesses an Egyptian land portfolio of over 107m square metres, and its projects are home to more than 1.5m residents, the company said. In the tourism sector, Talaat Moustafa Group has developed projects under the "Four Seasons" brand in Sharm El Sheikh, Cairo, and Alexandria, alongside the Kempinski Nile Hotel in Cairo. The Group is currently developing three additional hotels in Luxor, Madinaty, and Marsa Alam. Additionally, TMG is undertaking the renovation and development of seven historic hotels: Sofitel Legend Old Cataract Aswan, Mövenpick Resort Aswan, Sofitel Winter Palace Luxor, Steigenberger El Tahrir Hotel, Steigenberger Cecil Alexandria Hotel, Marriott Mena House Cairo, and Marriott Omar Khayyam Zamalek. The company has also commenced the implementation of the first hotel under the "Four Seasons" brand on Egypt's North Coast within its new SouthMED project.
