OMRAN Group Oman: Ownership, Projects and Partner Roles

For Sale

• Starting from $182,000

For Sale

The Sustainable City – Yiti (TSCY) — Net-Zero Freehold Homes in Muscat, Oman

• Starting from $182,000

The Sustainable City - Yiti, Bandar Jissah, Muscat, Oman

• 531 Sq Ft
• Apartment, Studio, Villa

Details

2 months ago

2 months ago

For Sale Resale

• Starting from $234,100
• Villas from $897,000

For Sale Resale

Muscat Bay, Oman — Completed Freehold Villas & Apartments

• Starting from $234,100
• Villas from $897,000

Muscat Bay, Bandar Jissah, Muscat, Oman

• 850 sq ft
• Apartment, Penthouse, Villa

Details

2 months ago

2 months ago

For Sale

• Starting from $221,000

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Azura Beach Residences, Al Mouj — Freehold Beachfront Apartments in Muscat, Oman

• Starting from $221,000

Al Mouj, Muscat, Oman

• Apartment, Townhouse

Details

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For Sale

• Starting from $329,781
• Up to $5,089,011

For Sale

AIDA by DarGlobal, Yiti — Villas & Branded Residences with Trump Golf in Muscat, Oman

• Starting from $329,781
• Up to $5,089,011

AIDA by DarGlobal, Yiti, Muscat, Oman

• 983 Sq Ft
• Apartment, Villa

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OMRAN Oman: Who the Group Is, Who Owns It and What Its Name Means on a Property

OMRAN Oman is the shorthand many buyers use for OMRAN Group, formally the Oman Tourism Development Company, a government-owned business set up in 2005 to develop tourism assets in the Sultanate. It is not a house-builder in the way Gulf buyers usually understand the word. It owns hotels and heritage sites, runs a master-development business, and holds minority or joint-venture stakes in several private residential communities near Muscat and in Dhofar. Four of the projects we list sit under the OMRAN Oman umbrella, and in each of them OMRAN works alongside a partner or shareholder. This profile sets out who owns OMRAN today, what it does, and how each of our four listings is structured.

OMRAN’s role differs from project to project. In one project OMRAN is a 40% shareholder in the company that builds and sells. In another it is the government partner in a joint venture whose other shareholder is the developer buyers pay. In a third it is a partner to a London-listed developer that does the selling. Prices below come from our own listing pages, converted at the rial peg of 2.6008, and everything else is attributed to its source.

OMRAN Oman at a Glance

Who Owns OMRAN Oman Today: From a 2005 Company to an OIA Subsidiary

OMRAN says it was founded in 2005 by the Omani government to develop the tourism industry, a date repeated in the Oman Observer’s history of the group and in Forbes Middle East’s developer ranking, which placed it 35th among the top 50 real estate developers in MENA in its 2021 list.

On 4 June 2020 Royal Decree 61/2020 created the Oman Investment Authority and moved into it the State General Reserve Fund, the Oman Investment Fund and the investments directorate of the Ministry of Finance, according to OIA’s own notice of the decree. On 31 January 2021 the OIA announced a restructuring of its tourism and real-estate holdings, transferring them to OMRAN, which Muscat Daily describes as an OIA subsidiary after the transfer. The transferred assets, according to that report, included the Yiti sustainable tourism city project (a waterfront complex of 1.5 million m²), the five-star Alila Hinu Bay hotel in Mirbat (112 rooms and villas), the Naseem hotel at Jebel Akhdar, Hay al Sharq, and the OIA’s shares in ASAAS, a development and investment company. OMRAN’s chief executive at the time, Hashil Obaid al Mahrouqi, said the move would drive growth as OMRAN “enters a new stage of business growth”.

So the short answer to “who owns OMRAN Oman?” is: the Omani state, through the Oman Investment Authority, the state’s sovereign investment authority. OMRAN’s own about page says it operates under the guidance of the OIA and works with the Ministry of Heritage and Tourism. OIA’s 2024 annual report profiles Omran Group in its section on OIA holding companies and lists its project milestones. We describe OMRAN as a subsidiary of the OIA, as the OIA and the press do.

OMRAN’s own announcement names Ayad Ali Al Balushi as chief executive from 1 February 2026. A People Matters report adds that he was previously the OIA’s chief financial officer for over five years. He succeeds Hashil Al Mahrouqi, who fronted nearly every announcement from the Yiti partnerships to the 2025 anniversary.

What OMRAN Oman Does: Master Developer, Shareholder and Hotel Owner

OMRAN describes its operating framework as four pillars: tourism, master development, hospitality and development partnerships. The group, in its words, “transforms tourism-oriented government plots” into destinations and acts either independently or as a catalyst between government and private investors. That last phrase explains most of what you see in the market. OMRAN Oman rarely sells apartments itself. It assembles a site, brings in an investor or an operator, takes a stake or a fee, and lets the partner handle construction and sales.

The scale of the group is visible in its own numbers. In 2021 Muscat Daily reported that OMRAN managed 26 hotels and resorts with over 3,800 rooms. OMRAN’s current site speaks of 61 projects in three categories (32 hospitality assets, 12 lifestyle and mixed-use developments and 17 experiential offerings) with total assets above one billion dollars. The types of asset are consistent: the W Muscat and JW Marriott Muscat at Madinat Al Irfan, the Crowne Plaza at the Oman Convention and Exhibition Centre, Jumeirah Muscat Bay, the Alila Hinu Bay resort, the Atana hotels in Musandam, and heritage sites such as Al Hoota Cave and Nizwa Fort.

The 2024 results give a sense of the operating business. OMRAN reported a net profit of OMR 25.2 million ($65.5 million), revenue above OMR 58.3 million ($151.6 million), foreign direct investment attracted of over OMR 156 million ($405.7 million), 820,365 hotel guests (up 6%) and average occupancy of 45%, according to the Oman Observer and Muscat Daily. These are the group’s own figures.

The development pipeline includes several announced projects. In September 2025, at its 20th anniversary, OMRAN announced tourism projects worth OMR 3 billion ($7.8 billion), and its partnerships announcement named VA Group and Aurelian Group for mixed-use schemes at Port Sultan Qaboos and Yiti, Enevória Development for a Nobu-branded resort at Yiti, a Club Med resort in Musandam, Santani Jabal Shams, and stakes in UnderTheDoormat and Godoba. The OIA’s 2024 annual report lists projects with final investment approval separately from those at design stage.

OMRAN Oman’s Role in Each Project: Partner, Shareholder or Developer

The table below sets out what OMRAN Oman is in each of the projects we list or mention, and who sells to the buyer. It is based on documented facts.

From this we draw three categories. The first is OMRAN as shareholder in the seller: Al Mouj Muscat and Muriya, where OMRAN owns a stated minority and the company that signs your contract is a commercial developer. The second is OMRAN as government partner in a joint venture: The Sustainable City – Yiti and Muscat Bay, where the joint-venture company is the seller and the private partner leads on design and delivery. The third is OMRAN as master-plan partner: AIDA, where a separate listed developer controls construction and sales. The Ministry of Heritage and Tourism signed the 11 km² Yiti-Yenkit development agreement with OMRAN, according to the Oman Observer.

Buyer protection in off-plan projects comes from the project escrow account and developer licence required by Royal Decree 79/2025, which our guide to the law explains, and from the contract the buyer signs. Our developers guide covers developer licences and the counterparty named on the contract.

OMRAN Oman Projects We List in Muscat

All four listings are in the Muscat governorate, three on the coast east of the city (Yiti, Bandar Jissah) and one in the Al Mouj community. Prices and sizes below are taken from our listing pages, which are the authority for our prices. Per-square-foot figures divide the price by the built area and are our own arithmetic, not a developer’s figure.

AIDA by Dar Global at Yiti

AIDA is a gated hilltop community at Yiti, on the Gulf of Oman coast east of Muscat. At AIDA, OMRAN Oman is a partner. The partnership was announced in late March 2022 at Expo 2020 Dubai. Oman Observer’s report gives a combined investment of $1.5 billion, an area of 3.5 million m² in three phases, 3,500 residential units and two hotels with 450 rooms. Arab News reported the deal as a ten-year agreement worth SR6 billion ($1.6 billion), and added that Dar Al Arkan expected an effect on its financial statements from 2027. Dar Al Arkan’s international arm, Dar Global, now leads the project, and a Gulf News article on Dar Global’s results describes AIDA as “developed under a joint development agreement with the OMRAN Group”. MEED, Gulf Construction and other trade coverage use “joint venture”.

Dar Global launched sales in March 2023, under an Oman Observer headline calling the scheme “Omran-backed”, awarded the first-phase infrastructure contract (OMR 9,345,653, or $24.3 million, to Oman Shapoorji on 25 June 2024, per World Construction Network), and secured financing from the National Bank of Oman on 12 February 2025, according to the Oman Design and Build Week report. In each case the actor is Dar Global. Our own page for the developer is the Dar Global profile.

On our listing page, AIDA’s current developer price lists run from OMR 126,800 ($329,781) for a three-bedroom attached villa to OMR 1,956,710 ($5,089,011) for the largest Azure by Fendi Casa oceanfront villa, across 105 priced units in six collections. Our separate page for The Great Escape apartments starts lower, at OMR 75,000. The collections and their ranges, as shown on our page, are in the table below.

The reservation token is OMR 4,000 ($10,403) against every unit. According to earlier Dar Global material, the payment plan was 20% on booking, 10% at six, twelve and twenty-four months and 50% on completion, with handover phased between Q1 2027 and Q4 2028. The June 2024 announcement put Phase 1 at 2027, and Gulf Construction reported a Q4 2026 handover for The Great Escape apartments and first-phase villas and a December 2028 opening for Trump International Oman.

The Sustainable City – Yiti

The Sustainable City – Yiti (TSCY) is the project where OMRAN Oman’s role is closest to co-developer. On 13 January 2022 OMRAN and Diamond Developers signed an agreement for the first phase of the Yiti masterplan and set up the Sustainable Development and Investment Company (SDIC) S.A.O.C to carry it out, according to the Oman Observer. The report gives an investment of about $1 billion and a first-phase area of 900,000 m² within a wider 11 km² masterplan. The project was launched on 30 March 2022 with 1,657 homes including 300 villas, a four-star hotel of 197 rooms, a five-star resort of 170 rooms and 132 serviced apartments,, according to Times of Oman.

Our listing carries prices in dollars from the developer’s lists, which we convert for this page: a 531 sq ft studio from $182,000 (OMR 69,978), a 629 sq ft one-bedroom from $217,800 (OMR 83,743), a 1,206 sq ft two-bedroom from $332,700 (OMR 127,922), a 1,765 sq ft three-bedroom from $555,000 (OMR 213,396) and a 2,745 sq ft villa from $620,900 (OMR 238,734). Per square foot that is $343 for the studio down to $226 for the villa. The payment plan on our page is 5% on reservation, 5% within a month, 10% within four months, 10% within eight months and 70% on handover. Our page reports that apartments carry no service charge for five years and villas none at all, according to the developer.

The developer’s own site calls the project a partnership between Diamond Developers, under SEE Holding, and OMRAN. The July 2025 release for The Arc, a collection of 132 serviced residences with Nikki Beach branding, says full city handover is targeted for the end of 2026 and describes the project as owned by SEE Holding. For the developer behind the brand, see our Diamond Developers profile.

Azura Beach Residences at Al Mouj Muscat

Azura Beach Residences is a beachfront apartment and chalet collection in Al Mouj Muscat, the master community in Muscat’s Seeb area built around a marina and a golf course. This is the project where OMRAN Oman is a shareholder in the seller. Al Mouj Muscat is owned 50% by Majid Al Futtaim, 40% by OMRAN and 10% by Tanmia, according to OMRAN’s project page, which also says the community houses about 6,000 residents of 85 nationalities. Azura is marketed by Al Mouj Muscat, whose chief executive, Nasser Al Sheibani, is quoted in the company’s launch material. The shareholding is in the company, Al Mouj Muscat. Our Al Mouj Muscat profile covers the wider company.

Our listing gives a starting price of OMR 85,000 ($221,068) for a one-bedroom apartment, freehold, with the project described as an Integrated Tourism Complex. It lists 570 apartments and 41 four-bedroom duplex chalets, says Phase I sold out in July 2025 and states a 2026 target for the final phases, according to the developer. Payment is by instalments, with buyer payments held in a project escrow account released against construction milestones.

A trade report on the Phase I launch mentions 286 apartments and 23 chalets, 309 homes in two buildings on over 19,500 m² of beachfront. OERLive reports that Phase 2 was launched on 30 October 2025 with 307 residences in two mid-rise towers plus four-bedroom chalets. Our page also quotes a gross rental yield of 5% to 7%, which is a market statement, not a promise; see our rental yields guide.

Muscat Bay (Saraya Bandar Jissah)

Muscat Bay is the one completed residential community in this group, at Bandar Jissah, east of Muscat. It began as Saraya Bandar Jissah, was established in 2007 according to our page, and was renamed Muscat Bay in 2017. A TradeArabia report from April 2017 describes it as developed by OMRAN and Saraya Holding Oman, a branch of the Jordanian Saraya Holding, with a first phase of 260 homes. OMRAN’s page says Jumeirah Muscat Bay, a 206-room five-star resort, opened in 2022 after an investment of OMR 60 million ($156.0 million) and calls it a joint venture between OMRAN and Saraya Oman Holding Company. Gulf News has put the overall scheme at about $600 million. OMRAN’s own project page lists 180 villas, 92 townhouses, 84 duplexes and 84 duplex apartments. Our Muscat Bay profile covers the developer in more detail.

Our page prices Muscat Bay from $234,100 (OMR 90,011) for an 850 sq ft one-bedroom, $382,000 (OMR 146,878) for a 1,238 sq ft two-bedroom and $897,000 (OMR 344,894) for a villa of 3,330 sq ft, which is $275, $309 and $269 per square foot, or about OMR 106, 119 and 104. The largest home, at 8,181 sq ft, is price on request. The homes are complete and ready to occupy, with payment in cash or by instalments over three or five years and no deposit percentage disclosed. Our page counts 15 homes left across seven neighbourhoods.

Other OMRAN Oman assets we do not list

Buyers will meet OMRAN’s name on projects outside our four. Hawana Salalah and Jebel Sifah are developed by Muriya, in which OMRAN holds 30% and Orascom Development 70%, according to OMRAN’s project pages for Hawana Salalah and Jebel Sifah. An IndexBox summary of Orascom’s update says Muriya has invested over $750 million in Oman and that the first phase of Hawana is about 80% complete with handover anticipated in Q1 2027; see our Muriya profile. Madinat Al Irfan is OMRAN’s own flagship urban district, with the Oman Convention and Exhibition Centre, the Crowne Plaza and JW Marriott hotels and a business park. A Four Seasons resort was announced in May 2022 as an Al Bustan project of about 200 rooms and 100 private residences, according to the Oman Observer; later OMRAN material refers to the Four Seasons Resort and Private Residences Muscat. The OIA annual report says its design was completed and approvals to develop it as an integrated tourism complex were received by the end of 2024. The Yiti Marina Nikki Beach Resort, with 140 rooms and 30 villas, was 60% built at the end of 2024 by the same report.

Summary of the four listings

Compare these with market-wide benchmarks in our price per square metre guide, bearing in mind that the table mixes apartments and villas and that Azure by Fendi Casa pulls the AIDA figure sharply upward. Dollar figures convert at the rial peg described in our rial peg guide.

Track Record of OMRAN Oman: Delivered, Under Construction and Announced

The table sets out what OMRAN owns or operates and what its partners are building.

On the hotel and commercial side OMRAN is the owner: Madinat Al Irfan and the hotels are operating assets. Muscat Bay is the residential community where homes have been delivered to buyers, as a joint-venture project, and Al Mouj Muscat is an established community. Azura Beach Residences, The Sustainable City – Yiti and AIDA are under construction, with the handover targets stated by their developers.

The Sustainable City – Yiti was launched in March 2022. By December 2024 the developer’s own progress release reported 96% of infrastructure complete, with the plaza 31% built and the villas 33% built, and targeted full operation for 2026. The OIA’s annual report put the overall project at 55% at the end of 2024. The July 2025 release gives the end of 2026 for full handover.

AIDA is under construction. Its Phase 1 infrastructure contract was awarded in June 2024, with a Phase 1 target of 2027. Other stated targets are Q4 2026 for The Great Escape, Q1 2027 to Q4 2028 for villas and December 2028 for the Trump hotel, according to Dar Global and trade coverage. Our handover calendar tracks the dates we can source.

How Buying Works With OMRAN Oman Projects

There is no single OMRAN purchase process, because OMRAN does not sell these homes. The steps below follow the common pattern in the four listings, with the differences marked.

Reservation comes first. At AIDA the token is OMR 4,000 ($10,403) per unit. At TSCY the plan starts with 5% on reservation and 5% a month later. Muscat Bay’s homes are complete, so the process is closer to a resale-style purchase with instalments over three or five years.

On reservation a buyer normally receives a reservation form, the sale and purchase agreement, a payment schedule, escrow account details and a handover schedule. The agreement names the legal entity that sells the home, which for these projects is Dar Global’s AIDA project vehicle, SDIC, Al Mouj Muscat or Saraya Bandar Jissah. Under Royal Decree 79/2025, which took effect on 10 March 2026 according to our guide, licensed developers must keep an independent escrow account per project and release funds against verified construction progress, with enforcement powers including licence revocation. Our page for Azura says buyer instalments are held in escrow with release tied to milestones, and our TSCY page says payments are made into the project escrow account.

Payment structures differ by project, and our payment plans guide compares them across the market. TSCY’s plan puts 30% before handover and 70% on handover. AIDA’s earlier 20/10/10/10/50 schedule put 50% on completion. Muscat Bay buyers pay in cash or in instalments over three or five years on a finished home.

Service charges are set project by project. TSCY says zero for villas and free for five years for apartments, according to the developer, and Azura’s is set in the sale agreement. See our service charges guide. On exit, our TSCY page counts about 50 units available across primary and resale, so a secondary market exists; read our selling guide for transfer costs and timing.

Ownership Route and Residency in OMRAN Oman Projects

All four listings are offered as freehold to buyers of any nationality, which Omani law allows in designated Integrated Tourism Complexes, according to our freehold guide. Our guide to what foreigners cannot buy covers the limits. Golden Residency, the ten-year route, needs a single ITC property worth at least OMR 200,000 ($520,160). The Owner Visa has no minimum and lapses on sale. The two are different, and a project does not “give residency” without the stated condition. Applying the OMR 200,000 test to the prices on our pages gives this.

These are readings of listed prices against the threshold, not approvals. Eligibility depends on the ITC status of the specific project and on the price on the contract. The threshold applies to a single property, so two small units do not combine. Our visa comparison sets out the rules and the current process.

Partners and Operating Record of OMRAN Oman

The state is a shareholder or partner in every project we list, and the Oman Investment Authority’s 2024 annual report itself reports the Yiti milestones. OMRAN owns operating hotels and a business park. At Muscat Bay and Al Mouj Muscat there are delivered homes and people living in them. The partners, Majid Al Futtaim, Diamond Developers and Dar Global, each run large schemes elsewhere. OMRAN holds the Yiti masterplan agreement with the Ministry of Heritage and Tourism.

OMRAN Oman and Its Partner Developers

OMRAN is not a like-for-like competitor of the developers below, because it is often their shareholder or partner. The table shows the relationship and links to our profile of each.

The hub page Real estate developers in Oman lists the others.

What to Prepare When Reserving in OMRAN Oman Projects

Buyers of off-plan homes in these projects normally receive the following documents at reservation.

1. The reservation form, naming the legal entity that sells the home, with its commercial registration.
2. The sale and purchase agreement.
3. The developer licence number issued by the Ministry of Housing and Urban Planning.
4. The project escrow account name and details, as written into the contract.
5. The document establishing the project’s Integrated Tourism Complex status.
6. The handover schedule for your specific building or plot.
7. The service charge, stated in a currency and per unit of area, and the number of years it is waived.
8. The payment schedule with dates and the amount due before handover.
9. If residency matters to you, the single-unit price on your contract compared with OMR 200,000, and the project’s ITC status.

Frequently Asked Questions

Who owns OMRAN Group in Oman?

OMRAN Oman is owned by the Omani state through the Oman Investment Authority, which Muscat Daily described as its parent after the January 2021 transfer of tourism assets. OMRAN itself says it was founded in 2005 and operates under the OIA’s guidance.

Is OMRAN the developer of AIDA?

OMRAN Oman is a joint-venture partner in AIDA, but Dar Global is the developer that builds and sells. Announcements from 2022 onward call it a joint venture between Dar Global and OMRAN Group, and Gulf News uses the phrase “joint development agreement”.

Which of our listings has delivered homes?

Of the projects where OMRAN Oman is a partner, Muscat Bay is the one with completed, ready-to-occupy homes on our listing, and Al Mouj Muscat is an established community. The Sustainable City – Yiti was 55% complete at the end of 2024 according to the OIA, and AIDA and Azura are still under construction.

What does OMRAN own in Al Mouj Muscat and Hawana Salalah?

OMRAN Oman holds 40% of Al Mouj Muscat, with Majid Al Futtaim at 50% and Tanmia at 10%, and 30% of Muriya, which develops Hawana Salalah and Jebel Sifah, with Orascom Development holding 70%. Both figures come from OMRAN’s own project pages.

Does buying in an OMRAN-linked project give me residency?

OMRAN Oman projects can support Golden Residency only if a single Integrated Tourism Complex property costs at least OMR 200,000 ($520,160). In our listings that means villas at AIDA and Muscat Bay and three-bedroom units or villas at The Sustainable City – Yiti. The Owner Visa has no minimum price and ends if you sell.

Who leads OMRAN now?

OMRAN Oman announced Ayad Ali Al Balushi as chief executive from 1 February 2026. He previously served as chief financial officer of the Oman Investment Authority, according to People Matters. He succeeds Hashil Al Mahrouqi.

Ask us about OMRAN projects

Last checked: 9 October 2026. Sources: OMRAN Group, Muscat Daily, OIA 2024 annual report, Oman Observer history, OMRAN 2024 results, CEO appointment, Yiti-Yenkit agreement, SDIC agreement, AIDA partnership, AIDA contract, Al Mouj Muscat, Jumeirah Muscat Bay, Hawana Salalah, OERLive, Times of Oman, Gulf Construction, Arab News.