Muscat--- His Highness Sayyid Theyazin bin Haitham Al Said, Minister of Culture, Sports and Youth, today graced the ceremonial cornerstone laying for two landmark urban developments: the "Yamal" and "Jood" projects.
These ventures, spearheaded by Talaat Moustafa Group (TMG) with a combined investment of RO 1.7 billion, were inaugurated at Sultan Haitham City and the coastal precinct of Al Manuma. The momentous occasion was attended by distinguished assembly of their highnesses, excellencies and senior officials from pertinent national sectors.
The realization of these two visionary projects is a direct embodiment of national directives aimed at cultivating exemplary partnerships with world-renowned developers, whose proven mastery lies in crafting modern, holistic urban environments.
This strategic initiative is in perfect consonance with the core priorities of "Oman Vision 2040," which champions economic diversification, the empowerment of the private sector, the stimulation of investment and the enhancement of indigenous economic value.
The "Jood" project will rise upon a sprawling 2.7 million square meter canvas, destined to become a smart and sustainable community. It promises over 7,000 diverse residential units, interspersed with verdant landscapes, and complemented by a full suite of educational, healthcare, commercial, and recreational amenities, alongside a dedicated social and sports club.
The inaugural phase of this offering presents 600 units, marking the commencement of sales for this comprehensively planned community. The project's name, "Jood," draws inspiration from the quintessential Omani virtues of boundless generosity and magnanimity, reflecting profound human and social dimensions.
It aspires to epitomize abundance, harmonious balance, and an elevated quality of life within a modern, green city where the built environment exists in seamless synergy with nature.
Conversely, the "Yamal" project will command a majestic 2.2 million square meter domain with an impressive 1,760-meter waterfront along the Sea of Oman. This premier coastal destination is set to feature an international marina, a collection of world-class hotels, a vibrant array of marine activities, and more than 6,000 residential and hospitality units offering panoramic views of the sea and marina.
The first phase here introduces 700 units, forming part of a contemporary coastal enclave deeply inspired by Oman's timeless and profound bond with the sea. It seeks to express the enduring values of giving, discovery, and openness that have forged the nation's distinctive maritime identity across centuries.
These monumental undertakings represent a tangible manifestation of the Sultanate of Oman's strategic vision to forge distinguished alliances with global development leaders. They underscore a commitment to establishing modern urban communities founded upon exceptional quality of life and sustainable planning principles.
This endeavour operates within a cohesive framework aligned with the National Urban Strategy, the cardinal blueprint guiding the nation's urban future and a principal catalyst for the aspirations of "Oman Vision 2040."
The entry of eminent global developers into the Omani market signals the escalating allure of Oman's investment landscape. It affirms the robustness of the national regulatory framework in fostering sustainable urban ecosystems capable of accommodating growth and diversifying development opportunities, thereby curating a more competitive and enticing market for premium investments.
The comprehensive transformation currently underway in the Sultanate of Oman is predicated on elevating planning efficacy and synthesizing governmental endeavours within a unified strategic outlook. This vision opens expansive horizons for growth and underpins the sustainability of urban development across all governorates. It is a phase that solidifies Oman's standing on the world stage and attests to its capacity to attract high-caliber international partnerships and investments.
These projects are poised to deliver substantial added value to both the national economy and society by creating integrated communities that offer a globally benchmarked quality of life. They will provide advanced services underpinned by sustainability, meticulously designed to cater to the needs of generations to come.
The phased sales launch for the "Yamal" and "Jood" projects within Sultan Haitham City and the coastal Yamal city will commence tomorrow, Tuesday, as part of the initial offering stages for these pioneering developments.
Talaat Moustafa Group (TMG) is ranked within the elite top 6 percent of companies operating in the emerging markets of Africa, the Middle East, and Latin America, a testament to its international stature and vast, accumulated expertise in city-making and integrated community development. With a legacy exceeding 55 years in crafting holistic urban spaces, its projects are home to over 1.5 million residents.
The Group's portfolio encompasses a land bank exceeding 115 million square meters, dedicated to residential, commercial, and touristic projects in numerous strategic locales.
The Group's operational prowess is further evidenced by its management of several international hotels under the prestigious Four Seasons brand in Cairo, Sharm El-Sheikh, and Alexandria, alongside historic properties and new hospitality ventures under development across Egyptian governorates. This demonstrates its profound experience and capability to deliver urban and tourism destinations that meet exacting international standards.
In recent years, the Sultanate of Oman has registered remarkable advancements across key economic and investment indicators. Foreign Direct Investment (FDI) demonstrated robust growth between 22 and 23 percent in the first quarter of 2025, accelerating to over 30 percent by the end of the first half, with a total value surpassing RO 30 billion. This trajectory offers a clear testament to the global investment community's confidence in the resilience of the national economy and the stability of its financial architecture.
In the domain of business facilitation, Oman has achieved commendable competitive benchmarks. The average timeframe for company establishment has been streamlined to a mere 4–5 days, necessitating only four principal procedures and eliminating minimum capital requirements. This has significantly enhanced procedural fluidity and amplified the Omani market's appeal to new investors.
Concurrently, international metrics reflect qualitative progress, with Oman ascending in regional rankings for quality of life and securing notable gains in assessments of economic competitiveness. This progress is paralleled by the continuous refinement of the legislative and regulatory framework, which has bolstered transparency, augmented the efficiency of the business environment, and smoothed the pathway for investment inflows.
The Omani real estate market sustains a performance indicative of robust investor confidence and regulatory steadfastness. The total traded value up to September 2025 exhibited a 9.2 percent growth compared to the corresponding period in 2024.
Furthermore, revenues accrued from legal property transactions—encompassing sales, mortgages, and transfers—surged by a substantial 74 percent year-on-year, reflecting a broadening investor base and increased transactional depth within the sector. The sector's growth, exceeding 29 percent in traded value during 2024, confirms the enduring positive momentum characterizing Oman's real estate landscape.
