Egypt’s Talaat Moustafa Group (TMG) is investing more than $5bn in two new developments in Oman comprising approximately 15,000 residential units, CEO Hisham Talaat Moustafa said.
Speaking during the launch event, Moustafa said the company plans to deliver a new urban experience to over 1.5 million people outside Egypt between 2025 and 2030, with operations targeting Oman, Iraq, and Saudi Arabia.
The group announced that sales for the two projects, “Yamal” and “Jood”, will commence on Tuesday, Dec. 2. The developments cover a combined area exceeding 4.9 million square metres.
“Yamal” is situated in Al Manuma on the Gulf of Oman coast. The project features a 1,760-metre beachfront and includes a marina, international hotels, and residential units, serving as a mixed-use tourism and housing community.
The “Jood” project, located in Sultan Haitham City, is designed as an integrated residential development featuring smart infrastructure, green spaces, and educational, medical, and sports facilities.
Moustafa noted that the expansion into Oman relies on the group’s 55 years of experience and is based on studies aimed at replicating the company’s prior work in developing integrated communities in Egypt.
The launch event was attended by Sayyid Theyazin bin Haitham Al Said, Minister of Culture, Sports and Youth, and Khalfan Al Shueili, Minister of Housing and Urban Planning.
TMG has a market capitalisation exceeding EGP 149bn
($3.1bn) and is listed among the top real estate developers in the Middle East.
