In a significant step for urban development, His Highness Sayyid Theyazin bin Haitham Al Said, Minister of Culture, Sports and Youth, officiated the foundation-stone ceremony for the Yamal and Jood projects in Oman. Developed by Talaat Moustafa Group (TMG), these initiatives embody a total investment of RO 1.7 billion, situated at Sultan Haitham City and the scenic Al Manuma coastline. The initiative was graced by dignitaries and representatives from various sectors.
Reflecting the principles of Oman Vision 2040, these projects focus on economic diversification and enhancing investment opportunities, showcasing the nation’s commitment to building modern urban communities that prioritize a high standard of living and sustainable development.
The Jood project spans 2.7 million square meters, envisioned as a smart, green community featuring over 7,000 residential units, alongside essential facilities such as schools, healthcare centers, malls, parks, and sports amenities. The initial phase offers 600 residential units, now available for purchase. The name “Jood,” symbolizing generosity in Omani culture, ties modern living with an appreciation for natural beauty, fostering a balanced lifestyle.
Meanwhile, the Yamal project will cover 2.2 million square meters, boasting a 1,760-meter waterfront along the Arabian Sea. It will include a marina, luxury hotels, marine activities, and over 6,000 housing and hospitality units, with the first phase releasing 700 units. Inspired by Oman’s maritime heritage, Yamal aims to introduce a contemporary coastal lifestyle celebrating exploration and openness.
These developments align with the National Urban Strategy, shaping Oman’s future urban planning while underscoring the robustness of its investment climate. The collaboration with reputable global developers reflects confidence in Oman’s market, bolstered by an established regulatory framework and detailed development strategies.
Oman is experiencing remarkable foreign direct investment (FDI) growth and is committed to enhancing business operations. Streamlined company registration, simplified procedures, and an improved legal framework have bolstered investor confidence. The real estate sector is witnessing robust activity, with increased transaction values and heightened investor interest.
These landmark initiatives are poised to construct modern communities that stimulate economic growth and create opportunities for future generations, marking a pivotal milestone in Oman’s journey toward sustainable development and international competitiveness.
