Sunday 05 / October / 2025
Muscat: Al Ahly Sabbour Real Estate Development Company announced the launch of the Iconic Tower in Wadi Zaha, the first and tallest tower to be constructed in Sultan Haitham City.
This landmark project marks a milestone in the Company’s regional journey and reflects its commitment to delivering innovative projects that go beyond the traditional concept of real estate development.
The project falls within Al Ahly Sabbour’s strategy for sustainable expansion. The Tower includes a luxury hotel and serviced apartments under the brand “Villa Coconut Hotel & Residences”, in collaboration with TLT Concepts, setting a new standard for luxury and hospitality in Oman.
The Iconic Tower boasts a strategic location in the heart of Wadi Zaha, overlooking the central park and the City’s main Wadi, combining easy access and tranquility.
The Tower consists of two interconnected buildings, with only the upper floors, the ninth and tenth, connected. It houses a luxury hotel, serviced hotel apartments, and a commercial area featuring restaurants, cafes, and shops. Residential units include studios, one-bedroom, two-bedroom, and three-bedroom apartments, sky villas, and penthouses, all fully finished and semi-furnished with the finest materials and designs. The project also features integrated facilities, including a swimming pool, gym, walking track, and various recreational areas, providing a complete living experience for residents and visitors. The launch of the Wadi Zaha Iconic Tower was announced during a press conference held on October 05, 2025, followed by a grand launch ceremony that evening at Al Bustan Palace, a Ritz-Carlton Hotel, Muscat.
The event witnessed a high-profile attendance, including the honorable patron, His Excellency Dr. Saud bin Hamoud Al Habsi, Minister of Agriculture, Fisheries Wealth and Water Resources; His Excellency Dr. Khalfan Al Shueili, Minister of Housing and Urban Planning; and Engineer Ahmed Sabbour, Chairman and Managing Director of Al Ahly Sabbour. Among the attendees were a number of ministers, ambassadors, senior officials, businessmen, investors, and media representatives, reflecting the exceptional importance of the project on both the local and regional levels.
Al Ahly Sabbour’s partnership with TLT Concepts under the Villa Coconut brand marks the prestigious hotel brand’s first expansion into Oman, following its successful presence in Egypt at Zoya Ghazala Bay on the North Coast on the Mediterranean, El Gouna in Hurghada on the Red Sea, and Dubai in the United Arab Emirates, with an upcoming expansion in Athens, Greece. This partnership aims to offer an urban and luxury hospitality concept, with a focus on contemporary design, distinctive social spaces, and an exceptional living experience.
The Iconic Tower reflects Al Ahly Sabbour’s vision, which is based on four main pillars. The first is selecting promising and central destinations for sustainable growth, embodied by the Company’s selection of Sultan Haitham City, the first smart city in Muscat, as the launching point for future projects.
The second is building strategic partnerships that add value to the community and investors, through close cooperation with the Ministry of Housing and Urban Planning to ensure the project’s alignment with Oman Vision 2040 and promote economic and social development.
The third pillar is developing innovative and flexible concepts that align with future needs, embodied by the Iconic Tower as a model that connects housing, entertainment, and cultural services to deliver the first branded residential tower, Villa Coconut Residence, in Sultan Haitham City, providing an integrated living experience for future generations. Finally, Al Ahly Sabbour’s expertise spanning over thirty years in real estate development is being leveraged to the Omani market, while respecting Omani cultural identity and introducing modern standards for high-end urban development.
The Iconic Tower also contributes to supporting Oman Vision 2040 by adopting sustainable standards in construction and design, providing new job opportunities, and promoting tourism and real estate investment, forming an integrated model that combines luxury, global services, and Omani identity in design.
Sales of the project’s first phase have so far reached OMR 21 million out of a targeted OMR 28 million, representing 80% of sales, making it one of the highest-selling projects in Sultan Haitham City.
The Company is preparing to begin construction of the project next January. As part of its future expansion plans, Al Ahly Sabbour aims to acquire three new plots of land in Oman, focusing on the areas of Al Jabal Al Akhdar, Salalah, and Al Khuwair Downtown.
The launch of the Iconic Tower in Wadi Zaha underscores Al Ahly Sabbour’s ability to combine innovation, expertise, and sustainability, positioning Sultan Haitham City as a leading destination for living and investment, and strengthening the Company’s position as a dynamic regional developer capable of delivering luxurious and innovative projects that meet the aspirations of customers and investors alike.
Speaking at the press conference, Eng. Ahmed Sabbour, Chairman and Managing Director of Al Ahly Sabbour Real Estate Development Company, said: “Today, we are proud to launch the Iconic Tower in Wadi Zaha, the first and tallest tower in Sultan Haitham City, with its stunning views of the central park and the City’s main Wadi. This project represents a qualitative shift in the Omani real estate market.
“From the beginning, we were very keen to choose the ideal partner to manage this type of project, a partner with real success stories and clear experience in operating and managing distinguished hotel brands. Hence, we chose Villa Coconut by TLT Concepts to manage the hotel units in the tower, ensuring a comprehensive hospitality experience that meets the aspirations of residents and enhances investor confidence.
“This project reflects our ongoing commitment to excellence and innovation, delivering exceptional projects that meet our clients’ aspirations and deliver added value for investors. The Wadi Zaha Iconic Tower also reinforces Al Ahly Sabbour’s legacy of more than thirty years of leadership in real estate development, through projects that contribute to building vibrant and sustainable communities and consolidate our position as one of the region’s leading developers.”
Ahmed Hanafy, Founder of TLT Concepts, said: “Our partnership with Al Ahly Sabbour on the Iconic Tower project in Wadi Zaha in Sultan Haitham City represents a significant milestone that we are very proud of. It combines the expertise of a leading developer with a clear vision, with our philosophy of redefining the concept of modern hospitality. Our choice of Al Ahly Sabbour was not a coincidence, but rather an extension of our previous successful relationship in the Egyptian market, which demonstrated the ability of both parties to achieve real accomplishments.
“Today, we continue this journey together in Oman, as part of our shared vision to expand our regional presence and deliver upscale hospitality experiences that meet international standards.”
“Through our distinctive Villa Coconut brand, which we chose to be the main pillar of this project, we seek to provide an exceptional experience that goes beyond the traditional idea of residence, embodying the concept of a “second home,” where residents and visitors feel a sense of belonging and comfort in every detail and corner. Thus, the project combines luxury, comfort, and privacy, setting a new standard for the future of hospitality in Oman and the region.”
Meanwhile, Al Ahly Sabbour revealed details of its participation in the Oman Construction and Building Exhibition, taking place at the Oman Convention and Exhibition Centre from October 6 to 9. The exhibition will showcase its diverse portfolio of real estate projects and announce the start of receiving Expressions of Interest (EOIs) for residential units in the Iconic Tower, with exclusive launch offers including a 15% down payment and payment plans of up to 5 years.
With over 30 years of leadership, Al Ahly Sabbour continues to shape the real estate sector’s direction through projects that enhance communities and deliver value to customers and investors. The Company remains committed to innovation, sustainability, and delivering distinctive, customer-centric solutions across all the markets it serves.
About Al Ahly Sabbour Real Estate Development Company
Al Ahly Sabbour is one of the strongest and most influential Egyptian entities in the field of real estate development.
Founded in 1994 in a strategic partnership with the National Bank of Egypt, the Company owns a massive real estate portfolio of 4,381 acres, spread across more than 65 diverse projects in strategic locations including East and West Cairo, the North Coast, and the Red Sea, in addition to a prominent presence in the Arab market. These projects include residential, commercial, tourist, and administrative communities, as well as sports and social clubs, making it a landmark in the integrated development sector and the first choice for more than 40,000 families.
As part of its vision to expand and dominate the real estate market, Al Ahly Sabbour has established 19 subsidiaries offering a range of products, services, and integrated solutions under the group’s umbrella, strengthening its position as a comprehensive platform for advanced real estate development.
As part of Al Ahly Sabbour’s efforts to consolidate its regional leadership and export its successful model in building integrated smart communities, the Company launched the “Wadi Zaha” project in Oman.
This project marks its first presence outside the Egyptian market and the first phase of an integrated smart city being built on an area of approximately 100 acres in Sultan Haitham City.
The project includes more than 3,500 residential units, with investments estimated at approximately OMR 90 million.
The project reflects Al Ahly Sabbour’s commitment to sustainable expansion and transferring its expertise to new markets while maintaining the highest standards of innovation and quality of life.
For more information, please visit https://alahlysabbour.com/en
