An Omani company has signed an agreement to build a $480 million project in Sultan Haitham city. The agreement was signed by the Ministry of Housing and Urban An Omani company has signed an agreement to build a $480 million project in Sultan Haitham city. The agreement was signed by the Ministry of Housing and Urban
Oman’s Sultan Haitham City signs $480m development contract
An Omani company has signed an agreement to build a $480 million project in Sultan Haitham city.
The agreement was signed by the Ministry of Housing and Urban Development with Al Adrak Group for the construction of residential units and a shopping arcade on a 450,000 square metre plot of land.
The housing ministry did not provide further information but said the project “is another milestone for the expansion and urban regeneration of the city of Muscat”.
The $2.6 billion Sultan Haitham City was unveiled in June 2023 to support economic diversification and will be spread over 14.8 million sq m.
On completion, it is expected to have 20,000 residential units across 19 integrated residential neighbourhoods, as well as schools, places of worship, hospitals, a university and shopping centres.
Other developers at Sultan Haitham City include Cairo-based Al Ahly Sabbour Development, which is building what is described as Oman’s tallest tower at an investment of $225 million.
“The property market has performed well in 2025 and that is the reason more of them are being built to cater for the increasing demand,” Mustafa Hussein, owner of real estate company Property Shop, told AGBI.
According to the National Center for Statistical Information, about OR1.3 billion ($3.4 billion) worth of properties were sold in 2025 in Oman, up 16 percent compared with the year before.
Further reading:
- First phase of Oman’s Sultan Haitham City on track for 2030
- Oman turns to finance to ease fiscal pressures
- IMF praises Oman but urges faster diversification
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