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Egyptian firm unveils $233m Sultan Haitham City project

17 January 2025

Egyptian real estate firm Al-Ahly Sabbour Real Estate Development has launched the Wadi Zaha project in Sultan Haitham City, located to the west of Muscat.

The project, which will cover an area of 420,000 square metres, will be developed at an estimated cost of RO90m ($233m).

The project is part of the partnership agreements that Oman’s Ministry of Housing & Urban Planning (MHUP) signed with private firms in August to develop the first phase of the Sultan Haitham City project.

The first phase includes the development of a 5 square-kilometre city centre and six of the development’s 19 planned neighbourhoods.

The first phase is set for completion by 2030.

US-based architectural firm SOM unveiled the masterplan proposals for the Sultan Haitham City project in August last year.

The final phase of the project is expected to be completed by 2045.

GlobalData forecasts the Omani construction industry to expand at an annual average growth rate of 4.2% from 2025 to 2028. Growth in the country will be supported by rising government investments in renewable energy and transport infrastructure, in addition to the housing sector, all as part of the Oman Vision 2040 Plan.

Growth during the forecast period will also be supported by increasing hospitality sector investments. The government plans to invest RO11.9bn ($31bn) in tourism development projects by 2040 and support the construction of several hospitality and resort projects.

The residential construction sector is estimated to record an annual average growth rate of 3.2% between 2025 and 2028. Growth over the period will be supported by rising private investments in the real estate sector, coupled with the government’s commitment to providing affordable housing to the country’s low-income families.

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Yasir Iqbal

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