MUSCAT, May 19 (Xinhua) -- The 20th Oman Real Estate Conference and Exhibition opened here on Monday at the Oman Convention and Exhibition Center, with a series of major investment agreements signed.
Organized by the Ministry of Housing and Urban Planning in cooperation with the Oman Real Estate Association, the event, running through Saturday, brought together over 40 local and international speakers and 180 exhibitors to explore the development of smart and sustainable cities.
The opening day witnessed the signing of nine partnership and development agreements with a combined investment value exceeding 2.3 billion Omani rials (approximately 6 billion U.S. dollars), including two deals with Egypt's Talaat Moustafa Group, one of the region's top real estate developers.
Under the first agreement, the group will develop parts of Sultan Haitham City on an area spanning 2.6 million square meters. This project aims to create a modern urban hub aligned with Oman Vision 2040, combining residential, commercial, and lifestyle components.
The second agreement involves the transformation of coastal land in Al-Seeb province into a tourism destination. The project will cover more than 2.2 million square meters and include residential zones, a luxury hotel, artificial lakes, and a marina.
Additionally, the conference introduced two flagship urban projects: A' Thuraya City in Bawshar province, envisioned as a smart and sustainable city, and the Al Jabal Al Aali project for tourism development in the Hajar Mountains. These initiatives are part of Oman's ongoing efforts to support economic diversification through boosting real estate and tourism development.
