Under Construction: Major Development Projects
The Sultanate of Oman is currently witnessing an unprecedented surge in construction activities with the implementation of prestigious residential projects, the building of large-scale industrial plants, and the setting up of additional facilities for tourists.
Project Name | Owner/Developer | Project Cost | Al Madina A’Zarqa
(Blue City) | Al Sawadi Investment & Tourism | USD 15-20 billion | Mirbat Beach Project | Dhofar Tourism Company | USD 2.5 billion | The Wave, Muscat | The Wave, Muscat | USD 2.4 billion | Integrated Tourist Resort Complex | Yenkit Tourism Development | USD 2 billion | Salam Yiti Project | Sama Dubai and Oman Tourism Development Company | USD 2 billion | Omagine Project | Omagine LLC | USD 1.6 billion | Barka Resort | Alargan Inteational Real Estate Company | USD 1.1 billion | Qaryat Qurum | Al Qurum Properties LLC | USD 1 billion | Tilal Al Khuwair | Al Madina Real Estate Co. | USD 1 billion | Salalah Beach, Jebel Sifah and Al Sodah Island | Muriya Tourism Development Company | USD 850 million | Intercontinental Muscat Hotel Expansion | Oman Tourism Development Company | USD 800 million | Khasab Resort | Majan Gulf Properties | USD 780 million |
All these projects are fueling a huge demand for all types of building materials, construction supplies and interior fuishings. With investments in property development expected to continue growing in the coming years, Oman is rapidly emerging as a major market for all companies directly serving the building and construction industry.
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