Talaat Moustafa and Oman Ministry of Housing sign 1.5bln Omani riyals real estate and tourism deal
Mr. Hisham Talaat stated that the total investment value of the two projects amounts to approximately 1.5 billion Omani Riyals and will provide about 13,000 residential and hotel units across over 4.9 million square meters. Furthermore, he noted that the two projects, situated on adjacent land plots west of Oman's capital, Muscat, will be linked by an electric train.
Integrated residential project in Sultan Haitham City
The initial 2.7 million square meter land plot in Sultan Haitham City will become a smart, integrated-services residential development, mirroring the success of Talaat Moustafa Group's Madinaty and other projects in Egypt. The residential project will feature diverse models of villas and apartments, in addition to a social and sports club covering an area of 190,000 square meters, and commercial and service areas spanning 140,000 square meters. The project enjoys a prime location minutes away from Muscat International Airport.
Global tourism project with a unique view on the Gulf of Oman
Situated along the Al-Shakhakhit coast, the second land plot, spanning approximately 2.2 million square meters with a 1,760-meter beachfront on the Gulf of Oman (directly west of Beit al Baraka Palace), will be transformed into a world-class tourism destination. The project features a yacht marina, a tourist hotel, villa-areas with unique sea views linked by artificial lakes, as well as cabins and residential buildings (apartments).
The tourism project enjoys a strategic location approximately 4 km from Sultan Haitham City and minutes from Muscat International Airport. It also intersects with the 215,000 square meter Al Naseem Heritage and Entertainment Park, providing vast green spaces and a distinctive view for various units of the project.
Vast green spaces and integrated services
The real estate and tourism projects, both offer a high quality of life with comprehensive services catering to all resident needs. Over 50% of their total area is dedicated to expansive green spaces and open areas. Religious, health, entertainment, and sports services are also available, alongside daily and seasonal commercial offerings. Furthermore, the projects will leverage cutting-edge smart technologies for management and operation.
The Sultanate of Oman marks Talaat Moustafa Group's second venture outside Egypt, following their initial projects in the Kingdom of Saudi Arabia. These Saudi Arabian endeavors include Banan City, a 10 million square meter development northeast of Riyadh.
Talaat Moustafa Group: Egypt's foremost real estate and tourism developer
Talaat Moustafa Group is the largest real estate and tourism developer in Egypt and one of the leading integrated institutions in Egypt and the Middle East. Over nearly 55 years, TMG has successfully established self-sustaining, integrated-services urban cities and communities across Egypt. Examples include Madinaty, Al Rehab, and Noor in East Cairo, with upcoming projects like SouthMED in the northwestern coast of Egypt and Banan City in Riyadh, Saudi Arabia.
Talaat Moustafa Group has reached a new milestone with cumulative real estate sales exceeding one trillion Egyptian pounds, underscoring its position as Egypt's leading real estate entity and the significant trust of its over 200,000 clients. The Group also possesses Egypt's largest land portfolio, now over 107 million square meters, and its projects are home to more than 1.5 million residents.
Talaat Moustafa has also significantly advanced tourism development by creating unprecedented international-standard projects under the "Four Seasons" brand in Sharm El Sheikh, Cairo, and Alexandria, alongside the Kempinski Nile Hotel in Cairo. Currently, the Group is developing three additional hotels in Luxor, Madinaty, and Marsa Alam.
Additionally, the Group is undertaking the renovation and development of seven historic hotels: Sofitel Legend Old Cataract Aswan, Mövenpick Resort Aswan, Sofitel Winter Palace Luxor, Steigenberger El Tahrir Hotel, Steigenberger Cecil Alexandria Hotel, Marriott Mena House Cairo, and Marriott Omar Khayyam Zamalek. Talaat Moustafa Group has also commenced the implementation of the first hotel under the global "Four Seasons" brand on Egypt's North Coast within its new SouthMED project.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
3 hours ago
- Khaleej Times
RAK real estate defies summer slowdown with soaring demand and rising prices
Ras Al Khaimah's property market is defying seasonal expectations, with a surge in investment activity during the traditionally slow summer months. Rather than cooling off, the emirate is attracting serious interest from both regional and international buyers, prompted by visible progress on mega-projects, competitive incentives, and the promise of long-term returns. A key catalyst is the upcoming Wynn integrated resort, the first casino development of its kind in the region, which has rapidly transformed market sentiment. 'The visibility of the Wynn project has shifted market sentiment,' said Junaid Imtiaz Qureshi, real estate agent at Kings Real Estate. 'As construction progresses, confidence rises. This summer and the next are key investment windows.' Qureshi added that summer, often perceived as a quiet period, is a strategic time for investors. With reduced foot traffic and less congestion, buyers can explore developments at ease. At the same time, developers take advantage of the season to release pre-launch units in stages, often at more attractive prices. 'Some of these early-stage investors are seeing returns of up to Dh300,000 even before public launches,' he said, pointing to an accelerating demand curve compared to previous years. Waterfront living remains a significant draw, as Ras Al Khaimah offers approximately 70 per cent of its properties with direct sea views, particularly in sought-after communities such as Al Hamra, Mina Al Arab, and Al Marjan Island. This unique positioning appeals to both investors and lifestyle-focused buyers seeking resort-style living. However, Qureshi warns that a potential supply-demand imbalance is looming. 'By 2030, RAK expects around 5.3 million visitors annually, but only about 45,000 residential units are planned and fewer than 30,000 will be ready when the Wynn integrated resort opens,' he said. That shortfall is expected to push prices significantly higher. Prices have already surged across key projects. Units that were once selling for Dh1,600–Dh1,800 per square foot are now reaching Dh3,500, a more than 90 per cent increase in just two years. 'These increases are not speculative,' Qureshi said. 'They're backed by real infrastructure and delivery milestones.' This momentum is also reflected in growing international interest. Cherif Sleiman, chief revenue officer at Property Finder, noted a sharp increase in online buyer activity, especially from abroad. 'We've seen demand for Ras Al Khaimah grow fivefold since the Wynn announcement in 2022,' he said. 'Fifteen to 20 per cent of leads for RAK now come from international audiences, significantly higher than the 3 to 10 per cent we see in Abu Dhabi or Dubai.' From a developer's perspective, the outlook remains optimistic. Ankur Aggarwal, chairman and founder of BNW Developments, stated that RAK's momentum is driven by consistent demand and a robust infrastructure pipeline. 'Serious investors don't wait for weather windows,' he said. 'It's about the kind of projects coming up, especially on Al Marjan Island, and the lifestyle tourism that's transforming into second-home ownership.' He added that RAK is evolving beyond an investor-driven market. 'We're seeing more end-user families from Sharjah, digital nomads, and professionals choosing Ras Al Khaimah as a primary residence,' he said. 'That's what brings long-term stability, and it gives us the confidence to keep launching quality, future-proof developments.' The numbers support the bullish outlook. According to data from Colliers and the Ras Al Khaimah Tourism Development Authority (RAKTDA), the emirate recorded Dh15.09 billion in real estate transactions in 2024, representing a 118 per cent increase compared to the previous year. With projected tourism hitting 3.8 million annual visitors by 2027 and infrastructure advancing rapidly, developers and investors alike agree that Ras Al Khaimah is no longer just a seasonal story. In Ras Al Khaimah, summer is no longer a slowdown; it's a launchpad.
Khaleej Times
3 hours ago
- Khaleej Times
Abu Dhabi records Dh51.7b in real estate transactions in H1 2025
The total value of real estate transactions in Abu Dhabi rose 39 per cent in the first half of 2025 compared to the same period in 2024, reaching Dh51.72 billion, up from Dh37.2 billion last year, according to data released by the Abu Dhabi Real Estate Centre (ADREC). The number of property transactions rose 12 per cent, reaching 14,167 deals, reflecting accelerated market activity underpinned by notable increases in sales, purchases, and mortgage transactions. Sales and purchases transactions grew 32 per cent in value, reaching Dh32.69 billion through 7,964 transactions, while mortgage transactions recorded a significant 52 per cent increase in value, amounting to Dh19.03 billion through 6,204 deals. The market's momentum is supported by streamlined regulations, digital services, and high-quality project launches, positioning Abu Dhabi as a premier destination for sustainable real estate investment. The first half of the year witnessed increased interest from international investors. Foreign Direct Investment (FDI) transactions reached 890, a 3.3 per cent increase in total value, amounting to Dh3.38 billion. The number of nationalities who invested grew to 85, up 10 per cent compared to the same period last year, underscoring the growing global confidence in Abu Dhabi's real estate sector. The market attracted strong interest from investors from major and emerging economies including Russia, China, the United Kingdom, France, Kazakhstan and the United States, which reflects Abu Dhabi's position as a global investment hub that combines economic stability with high-quality opportunities. In terms of transaction values by area, Saadiyat Island maintained its lead at more than Dh9.1 billion, followed by Yas Island at Dh5.86 billion, and Al Bahia at Dh3.98 billion. Other locations that recorded strong transactions included Mohammed Bin Zayed City, Al Reem Island, Al Riyadh City, and Khalifa City, highlighting the broad geographic spread of real estate activity across the emirate. Eng Rashed Al Omaira, Acting Director General of ADREC, said: 'The first-half performance reflects the growing confidence in Abu Dhabi's real estate market, from both global and national investors, reflected in the sustained growth in transaction values and continued increase in foreign investment. 'The recent launch of high-quality projects has further energised the market and opened doors to attractive investment opportunities, reinforcing Abu Dhabi's attractiveness as a leading destination for sustainable real estate investment. Additionally, the initiatives ADREC recently launched and the facilitations it offered, including automation of a large number of processes and services, had a pivotal role in reaching this achievement, through streamlining the investor's journey, accelerating transactions and enhancing transparency.' ADREC continues to advance its legislative framework and enhance the user experience in line with the emirate's economic ambitions, strengthening its regional and global competitiveness.
Zawya
3 hours ago
- Zawya
UAE's World's Safest Country Ranking creates ‘Safety Premium' in Real Estate Market, reports NOVVI Properties
DUBAI, UAE – As the United Arab Emirates is named the world's safest country in mid-2025, Dubai-based real estate leader NOVVI Properties reports that this top-tier security status has become a primary driver of the nation's booming property market. The designation is creating a tangible "safety premium," attracting a wave of global investors and residents who prioritize security alongside financial returns, fueling record-breaking transactions and boosting investor confidence. The UAE's reputation for safety and stability is directly translating into a robust and resilient real estate sector. In the first half of 2025, Dubai recorded over Dh431 billion in property transactions, a 25% increase year-on-year, with more than 59,000 new investors entering the market. According to NOVVI Properties, this surge is intrinsically linked to the nation's secure environment. "We are witnessing a fundamental shift in investor priorities. Safety is no longer a secondary benefit; it is a primary asset class," said Jason Farr, Sales Director at NOVVI Properties."Global investors and high-net-worth individuals are seeking safe havens for both their families and their capital. The UAE's consistent high ranking in global safety indices provides an unparalleled level of assurance, making real estate here one of the most attractive and secure investments worldwide." This investor confidence is bolstered by a strong, transparent regulatory framework overseen by entities like the Dubai Land Department (DLD) and the Real Estate Regulatory Authority (RERA). The mandatory use of escrow accounts for off-plan projects ensures that investor funds are protected, minimizing risk and fostering a climate of trust. The impact extends across all segments of the market. While luxury properties continue to attract significant attention, the sense of security is also encouraging families and professionals to set down long-term roots, driving demand for villas and apartments in established and emerging suburban communities. "The feeling of security is a powerful catalyst for the residential market," notes Brian Flanagan, Head of Leasing at NOVVI Properties. "Clients are not just buying a property; they are investing in a lifestyle defined by peace of mind. This confidence is expanding the market's geographic footprint, with significant growth now seen not just in Dubai and Abu Dhabi, but across all seven emirates, including hotspots in Sharjah and Ras Al Khaimah." As the UAE continues to build on its reputation for safety, stability, and economic diversification, NOVVI Properties forecasts that the real estate market will maintain its strong upward trajectory, cementing its status as a premier global destination for secure and profitable property investment. About NOVVI Properties NOVVI Properties was founded to transform Dubai's real estate market by prioritizing trust, integrity, and client relationships. In a market often focused on transactions, NOVVI offers a 360-degree suite of services, providing transparency, innovative marketing, and unwavering commitment to every client. Believing that real estate is a journey, not just a transaction, NOVVI is dedicated to guiding clients to spaces that embody their dreams and goals, whether they are first-time buyers, seasoned investors, or businesses seeking the perfect commercial location.9
