Omran Group has signed three development agreements worth more than $318 million to expand Oman’s residential and tourism sectors. The deals involve Hassan Allam Holding Group and Aurelia Development. Together, the projects cover Madinat Al Irfan and the Yiti Integrated Tourism Project. They aim to attract investment, expand housing options and strengthen Oman’s tourism industry.
The agreements carry a combined value exceeding OMR 122 million. Two projects in Madinat Al Irfan account for approximately $115 million of the total investment. Meanwhile, the Yiti Hills and Oasis development could attract up to $203 million. These projects will introduce new residential communities and hospitality facilities to two important destinations.
The agreements support Oman’s wider economic diversification strategy under Oman Vision 2040. The government aims to increase private sector participation and attract foreign direct investment. In addition, tourism development remains an important part of efforts to reduce reliance on traditional economic sectors. The new projects could therefore strengthen investment opportunities across property, hospitality and related industries.
Senior officials and company representatives attended the signing ceremony. Azzan bin Qasim Al Busaidi, chairman of Omran Group, signed the agreements alongside Hassan Allam. The event also included Ibrahim bin Said Al Busaidi, Minister of Heritage and Tourism. Ayad bin Ali Al Balushi, Omran Group’s chief executive, and Sharif Sadiq, Grova Real Estate Development’s chief executive, also attended.
The Madinat Al Irfan agreements focus on the first phase of residential development within Irfan City. The first project carries an estimated value of $75 million. It will introduce a new residential neighborhood within the developing urban destination. The second project involves luxury housing linked to an international hotel brand. That development carries an estimated value of $40 million.
Hassan Allam Holding Group will manage construction through its real estate subsidiary, Grova Real Estate Development. The company will draw on its engineering, construction and property development experience. Together, the two projects will expand housing options within Madinat Al Irfan. The wider destination combines residential areas, business facilities, hospitality services and lifestyle amenities.
Officials expect the developments to strengthen Madinat Al Irfan’s appeal as an urban and investment destination. Moreover, combining housing with business and tourism facilities could encourage further private sector activity. The projects also reflect growing interest in integrated communities that bring several services together. This approach can support long-term demand for housing and commercial facilities.
The third agreement covers the Yiti Hills and Oasis development. Aurelia Development plans to invest up to $203 million in the project. The development will cover approximately 200,000 square meters. Its plans include a five-star resort and 490 residential units. The project forms the fourth phase of the Yiti Integrated Tourism Master Plan.
Aurelia Development will oversee design, construction, marketing and sales management. The project aims to combine accommodation and residential living within one destination. Consequently, it could broaden Yiti’s appeal to residents, visitors and property buyers. The development will also expand Oman’s supply of tourism-related residential properties.
Omran Group views partnerships with international investors as an important part of its development strategy. These agreements create opportunities to bring additional capital and expertise into Oman’s property market. Furthermore, the projects may support employment across construction, hospitality and related services. Their long-term contribution will depend on implementation, demand and successful delivery.
The agreements highlight Oman’s continued efforts to develop integrated tourism destinations. Madinat Al Irfan will gain additional housing, while Yiti will receive new resort and residential facilities. Together, the developments represent a major investment in Oman’s urban and tourism infrastructure. They also reinforce the country’s ambition to diversify its economy and attract international investors.
Overall, Omran Group is advancing projects that connect property development with tourism growth. The $318 million agreements could strengthen Oman’s residential supply and hospitality offering. They also support national plans to increase investment and private sector participation. As development progresses, the projects will help shape the future of both destinations.
