Dar Global to develop $4.2bn Oman mixed-use project
10 December 2025
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Saudi Arabia-headquartered real estate developer Dar Global has announced that it will develop a mixed-use project in Muscat at an estimated investment of RO1.6bn ($4.2bn).
Dar Global will co-develop the Muscat Marine, Art & Digital District project with Oman's Art District Real Estate Development Company.
The project will cover an area of over 1.5 million square metres (sq m) and will be developed in several phases over 12 years.
The development will comprise a mix of residential communities, cultural venues, marinas, retail spaces, finance and business parks and hotels.
Dar Global, a subsidiary of Dar Al-Arkan, was one of the first Saudi brands to list on the London Stock Exchange.
Dar Al-Arkan established Dar Global in 2017 to focus on developing projects in the Middle East and Europe, including in Dubai, Qatar, Oman, London and the Costa del Sol in southern Spain.
Dar Global has $12bn-worth of projects under development in six countries: the UAE, Oman, Qatar, Saudi Arabia, the UK and Spain.
It completed three developments – the Urban Oasis and Da Vinci towers in Dubai and the Sidra gated community in Bosnia – in 2023.
The company collaborates with global brands including Missoni, W Hotels, Versace, Elie Saab, Automobili Pagani and Automobili Lamborghini.
In Oman, Dar Global is also developing the Aida project. In May, it awarded a contract to develop the villas and apartments as part of the project.
According to an official statement, the construction works are expected to start immediately and the project is slated for completion in 2026.
The main contract was awarded to local firm Al-Adrak Trading & Contracting.
The latest announcement follows the awarding of contracts in June last year for the development of the first phase of the Aida project.
The Aida project is being developed as a joint venture with Omran Group and the first phase is expected to be completed in 2027.
UK analytics firm GlobalData forecasts that the Omani construction industry will expand at an annual average growth rate of 4.2% in 2025-28. Growth in the country will be supported by rising government investments in renewable energy, the transport infrastructure and the housing sector, all as part of Oman's Vision 2040 strategy.
Growth during the forecast period will also be supported by increasing hospitality sector investments, with the government planning to invest RO11.9bn ($31bn) in tourism development projects by 2040 and supporting the construction of several hospitality projects.
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