Meed | Oman signs more Sultan Haitham City deals

Oman signs more Sultan Haitham City deals

6 August 2024

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Oman’s Housing & Urban Planning Ministry (MHUP) has signed new partnership agreements with private firms to develop the first phase of the Sultan Haitham City project to the west of Muscat.

The deals include a partnership agreement with local firm Al-Siyabi International Group to develop Neighbourhood 10, also known as Hay Al-Wafa.

The estimated $540m agreement involves the construction of 1,644 residential units over an area of 770,000 square metres (sq m).

The other agreement comprises an estimated $17m deal with another local firm, Dream Villa Development, for Neighbourhood 6B. This includes building 47 residential units over an area of 33,500 sq m.

These new agreements follow the major deals signed earlier this year for the development of the project’s first phase.

In May, the local Adrak Developers confirmed that it had signed an agreement with MHUP to develop Neighbourhood 12D within the Sultan Haitham City project.

The estimated RO38.7m ($100m) deal includes developing more than 300 residential units over an area of 56,166 sq m.

Muscat-based Tibiaan Real Estate Company will develop 116 residential units in Neighbourhood 6A, covering an area of about 58,000 sq m.

The local Amana Real Estate Development Company will develop Neighbourhood 13A over an area of 86,000 sq m, which includes about 278 residential units.

Rumman International Company will develop neighbourhoods 12A and 12B, with about 1,000 residential units over an area of 378,000 sq m.

Cairo-headquartered Al-Ahly Real Estate Development Company will develop neighbourhoods 12E and 12F, which cover an area of 275,000 sq m and include 1,919 residential units.

The local Muscat National Development & Investment Company will develop Neighbourhood 8 over an area of 368,000 sq m, with 1,333 residential units.

Muscat-based Al-Abrar Real Estate Company will develop Neighbourhood 10, which will cover an area of 770,000 sq m and include 1,644 residential units.

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Yasir Iqbal