Muscat Bay Oman: Developer Profile, Projects and Track Record

For Sale

• Starting from $300,500
• Villas from $650,200

For Sale

Luma Residence, Bandar Jissah, Muscat Bay, Oman

• Starting from $300,500
• Villas from $650,200

Luma Residence, Bandar Jissah, Muscat Bay, Muscat, Oman

• Beds: 2
• 1211 sq ft
• Apartment, Townhouse, Villa

Details

1 month ago

1 month 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

Muscat Bay Oman: Who the Developer Is and What It Has Built

Muscat Bay Oman is the name of both a gated coastal community at Bandar Jissah, south-east of Muscat, and of the company that built it. The company was incorporated as Saraya Bandar Jissah, a partnership between the state tourism developer OMRAN Group and Saraya Oman, a subsidiary of the Jordan-based Saraya Holdings, and it adopted the Muscat Bay brand in April 2017. That is the reason Muscat Bay Oman gets its own profile in our developers section.

Two points of precision before the detail, because the way projects are grouped on the web causes real confusion. First, Zen Residences is sold inside the Muscat Bay community but is developed by a different company, Zen Development and Investment, an Omani developer. Muscat Bay hosted its launch and its chief executive attended, but the developer of record for Zen is Zen Development, not the Muscat Bay company. Second, Al Mina belongs to the neighbouring Barr Al Jissah resort complex, which is a separate development with its own owner and its own hotels. We list it next to Muscat Bay on our site because buyers shopping this stretch of coast compare them, but Al Mina is not a Muscat Bay Oman project, and we treat it as context below. The two projects that are genuinely by the Muscat Bay company are the completed villas and apartments and the new Luma Residence.

Everything here is checked against public sources as of 9 October 2026, and against our own listing pages for prices. Where a source is the developer itself we say “according to”. For the wider map of who builds what, see our guide to Oman property developers and the developers hub.

Muscat Bay Oman at a Glance

Ownership, History and Backing

The project started life as Saraya Bandar Jissah. Press coverage at the time describes a joint venture between OMRAN, the Omani government’s tourism-development company, and Saraya Holding Oman, the local arm of the Jordanian developer Saraya Holding, best known for its Aqaba project. A Gulf News report from November 2018 gives the same pairing and puts the total investment at about $600 million. The same figure appears in the April 2014 ground-breaking report for what the trade press called the second phase of Saraya Bandar Jissah, when the partners marked the start of the main construction stage on 2.2 million square metres. Muscat Bay Oman therefore has a well-documented public paper trail from 2014 onward.

OMRAN is the more important name for a buyer to understand. According to its own website, OMRAN Group is the Government of Oman’s executive arm for tourism development and works in line with Oman Vision 2040 and the strategic direction of the Oman Investment Authority. Forbes Middle East dates its establishment to 2005 and ranked it 35th in its 2021 list of top real estate developers in the region. OMRAN also sits in several other schemes on our site, which is why it has its own page: see our OMRAN Group profile. The developer’s own pitch leans on this: the “Why Muscat Bay” page on muscatbay.com describes the community as a government-backed development “(OMRAN + Saraya)” ensuring long-term value and credibility.

Press reports describe Saraya Oman as a subsidiary of Saraya Holdings, and the 2019 coverage in Oman Observer names it “Saraya Holdings Oman”. Muscat Bay is a partnership of two shareholders, OMRAN Group and Saraya Oman.

A timeline built from dated sources

In sequence, the timeline shows the ground-breaking of the main construction stage in 2014, the rebrand to Muscat Bay in 2017, the first phase of homes announced complete in the second quarter of 2019, the opening of Jumeirah Muscat Bay in 2022 and the launch of Luma Residences in January 2026.

Projects We List: Two by Muscat Bay Oman, Two Next Door

Our four listings sit on one stretch of the Gulf of Oman coast but have three different developers behind them. The sub-sections below say who built what. Dollar prices come from our listing pages; rial figures are converted at the 2.6008 peg and rounded, so treat them as approximate. For how the peg affects a dollar-based buyer, see our guide to the Omani rial peg.

Muscat Bay: the completed villas and apartments

This is the core of Muscat Bay Oman and the reason the company has a delivery record. Our listing page for the completed homes describes seven neighbourhoods: Zaha Waterfront Residences and Villas, Zaha Parkland Residences and Villas, the Zaha Duplexes, Nameer Island Villas and Wajd Grand Hilltop Villas. Sizes run from a one-bedroom apartment of 850 sq ft (79 m²) to the largest hilltop home at 8,181 sq ft (760 m²). On the listing, a one-bedroom apartment starts at about OMR 90,000 ($234,100), a two-bedroom of 1,238 sq ft at about OMR 146,900 ($382,000), and a villa of 3,330 sq ft at about OMR 344,900 ($897,000). Three-bedroom apartments, the duplexes and the largest villas are priced on request. The listing says 15 homes remain, a mix of developer stock and owner resales.

The unit counts for the original zones are in the press. When the first phase was announced complete, Oman Observer reported 22 villas at Wajd, 33 at Nameer and 200 residences at Zaha. A separate report on the Parkland opening on 20 May 2019 describes an 18,345 m² park and, in the Parkland zone, 22 villas and 11 apartment blocks holding 102 apartments, and states that the opening completed the first phase. Those are the homes a buyer can walk through today.

According to our listing, the payment options for completed stock are cash, or instalments over three or five years depending on the lot.

Luma Residence: the new neighbourhood under construction

Luma is the Muscat Bay company’s current off-plan launch. It was unveiled on 12 January 2026 under the patronage of the Minister of Housing and Urban Planning. Muscat Daily and the Oman Observer report an investment of OMR 20 million, about 240 freehold units in a mix of apartments, townhouses and villas, a built-up area of about 37,000 m², and an agreement with Ahlibank to finance both the project and buyers of various nationalities. According to the Muscat Bay chief executive, confirmed preliminary bookings already exceeded 50% at the launch.

Those details come from the developer’s material as summarised on our Luma Residence listing. It shows 156 apartments, 52 townhouses and 32 villas, with a handover date of the first quarter of 2029. Prices start at about OMR 115,500 ($300,500) for a two-bedroom apartment of 1,211 sq ft, about OMR 218,500 ($568,400) for a 2,607 sq ft townhouse and OMR 250,000 ($650,200) for a three-bedroom villa of 2,997 sq ft. The plan has eight instalments: 2.5% on booking, 7.5% fifteen days later, 5% at six and twelve months, 10% at each of three construction milestones, and 50% on completion. Our page says 43 of 240 homes remain.

Zen Residences: inside Muscat Bay, but by Zen Development

Zen Residences is a separate project from the Muscat Bay company’s own homes. It sits within the Muscat Bay community, was launched on 6 March 2024 at Jumeirah Muscat Bay, and was presented with the Muscat Bay chief executive and the Minister of Housing and Urban Planning in attendance. But the developer is Zen Development and Investment, whose partner and director of operations, Mohammed Assaf, spoke at the launch, according to Muscat Daily and Times of Oman. The project is five buildings of studios, apartments and lofts. Our Zen Residences listing gives 80 homes, 13 remaining, and prices from about OMR 138,000 ($358,900) for a two-bedroom of 1,378 sq ft and about OMR 184,000 ($478,500) for a three-bedroom of 1,830 sq ft.

The practical consequence is that a Zen buyer’s contract, warranties, snagging rights and escrow account are with Zen Development, not with the Muscat Bay company, even though the address, the gate, the beach access and the neighbours are the same. Our listing records a target handover of Q1 or Q2 2027 per the developer’s materials, with fixed payment dates running to December 2027.

Al Mina: next door at Barr Al Jissah, by a different developer

Al Mina is the newest phase of Barr Al Jissah, the resort complex that opened in 2006 as Shangri-La’s Barr Al Jissah Resort and Spa. Wikipedia names the Zubair Corporation as the developer and Muscat Daily reports that Hilton manages the three hotels on behalf of the Zubair Corporation from 1 January 2026, with the Al Husn hotel due to become a Waldorf Astoria. The point for this profile is simple: Al Mina is not built or sold by Saraya Bandar Jissah or Muscat Bay.

The details come from our Al Mina listing. There are 76 homes in six low-rise buildings on a 55-berth marina taking vessels up to 40 metres, a handover of the first quarter of 2027, and prices from about OMR 184,300 ($479,200) for a 1,238 sq ft one-bedroom to about OMR 1,608,400 ($4,183,000) for a 6,340 sq ft beachfront villa. The plan is 20% plus a flat OMR 10,000 down, then five instalments of 16%, which means the whole price is paid before handover. We include Al Mina in the tables below because buyers compare it with the Luma and Muscat Bay options, but it is built and sold by a different company.

All four projects side by side

The formula is the USD price on our listing page divided by the stated size in square feet. The pattern inside Muscat Bay Oman is that the villa rate is lower than the apartment rate in both the completed and the Luma ranges, because apartment prices carry a share of shared areas while villa prices are weighted to land. The same effect shows in the Luma range, where the townhouse and villa sit near $217 to $218 per square foot against $248 for the apartment. A finished villa at $269 per square foot compares with $217 for a Luma villa due in 2029; the comparison is ours, using the two listing prices. For how these rates compare across the country, see our guide to price per square metre in Oman.

Track Record: What Is Finished and What Is Still Being Built

A developer profile is easiest to read through a simple question: what has this company handed over? The table below lists the components of Muscat Bay Oman and their status.

The three zones of the first phase (22 at Wajd, 33 at Nameer and 200 at Zaha) total 255 homes, against the 260 that the 2017 announcements described as phase one and the 435 planned in total. Current Muscat Bay marketing shows six lifestyle communities: Aqua Life, Park Life, Sky Life, Bay Life, Island Life and Sensorial Life, alongside the Luma brand.

The muscatbay.com site uses the phrase “ready to occupy”, and our listing describes the completed community as move-in ready, with shops, a hotel and security operating. Gulf News reported in 2018 that about 40% of phase one was sold and that about 70% of buyers were Omani nationals, which gives a sense of the early buyer base.

Financing and Delivery

The project was financed in part by bank lending: a Times of Oman headline reports Saraya Bandar Jissah signing an OMR 106 million deal with Bank Muscat and BankDhofar, about $275 million at the peg. Luma, at OMR 20 million and 37,000 m² of built area, was launched in January 2026.

The company completed the first phase of homes in 2019, and the Jumeirah Muscat Bay hotel opened in 2022. The handover calendar tracks the stated handover dates across Oman, including Luma’s.

How Buying Works With Muscat Bay Oman

The mechanics differ by project, so it helps to separate the completed homes from the off-plan ones.

For a completed home, the sequence is closer to a normal resale than to an off-plan purchase. You get the live availability list, establish whether the unit is developer stock or an owner resale, inspect the actual home, agree a cash or instalment price in writing, sign a sale agreement and register the title. The developer’s materials quote three payment routes, cash or instalments over three or five years. In 2019 the company ran an interest-free plan of 40% down and 60% over five years, according to the Oman Observer, and the 2017 Kuwait roadshow promoted a three-year plan. Those are historical offers, not the current terms, but they show the company has long sold on vendor financing. Gulf News reported in 2018 that buyers receive the title deed two to four months after purchase.

For Luma, the structure is a conventional off-plan sale with a very light first payment. According to our listing, you pay 2.5% on booking and 7.5% when the sale agreement is signed fifteen days later. A further 5% falls due at six months and at twelve months, then 10% at each of substructure, superstructure and engineering systems completion, and the final 50% at handover. By our arithmetic a buyer has paid half the price before handover and half at it. On the $300,500 apartment, $150,250 is therefore due on completion and the booking deposit is $7,513; the reservation form sets out the terms that apply to the booking deposit. Our guide to payment plans in Oman explains how plan structures differ.

On protection, the legal frame changed recently. Royal Decree 79/2025, issued on 10 September 2025, promulgated the new law regulating real estate and repealed, among other instruments, the escrow account system for development projects that Royal Decree 30/2018 had created. The decree text says it takes effect 180 days after publication in Official Gazette issue 1613 of 14 September 2025, which is mid-March 2026. For the content of the escrow and licensing duties, see our explainer of Law 79/2025 for off-plan buyers. Early Luma buyers booked in January 2026, before the new law took effect; their reservation documents state the escrow arrangements that apply to their payments. Reservation documents normally name the bank, the account holder and the project escrow account into which instalments are paid.

For Zen, the sale agreement is with Zen Development, since it is the seller; the Muscat Bay company is not a party to a Zen sale agreement unless the contract says otherwise.

Service Charges as Published

For a specific home, the current service charge is confirmed with the sales office. Our guide to service charges in Omani real estate covers what these normally include.

Ownership Route and Residency at Muscat Bay Oman

Foreign freehold ownership in Oman is tied to designated zones. Muscat Bay is described in the 2018 Gulf News report, and by all four of our listings, as an Integrated Tourism Complex, the designation under which non-GCC buyers can hold freehold title. Our guides to freehold property in Oman and to what foreigners cannot buy explain how the zones work and how to test a plot. For every project here, the reservation documents confirm that the specific plot or unit sits inside the ITC and that the title will be registered in the buyer’s name.

On residency, the developer’s website lists “Free residency for property holders” on its “Why Oman” page, and its home page refers to “Jumeirah Residents Club, Hotel Services and Lifetime Residency”. On this site’s rule, the Golden Residency needs a single ITC property worth at least OMR 200,000, and the Owner Visa has no minimum; the two are different routes with different conditions. The Golden Residency scheme is administered by the Ministry of Commerce, Industry and Investment Promotion, according to Middle East Briefing, which also gives the real estate route as a purchase in an ITC with a valid title deed. Our comparison of Golden Residency and the Owner Visa sets out the difference.

The threshold is OMR 200,000, about $520,160 at the peg. Against our listing prices, the picture is as follows. All of these are entry prices, and the exact price of your unit decides the answer.

The entry prices above are the starting prices on our listings, and the price of a specific unit determines whether it meets the threshold. The condition is a single property of at least OMR 200,000, so two smaller purchases do not combine.

Key Features of Muscat Bay Oman

• Completed homes. Phase one was announced complete in 2019 and the community has operated for years, so a buyer of the completed homes can visit the site and see the community. The sources are the Oman Observer completion report and our listing.
• A state shareholder. OMRAN is a government-owned tourism developer.
• A resort hotel. Jumeirah Muscat Bay opened in 2022 with 206 rooms and an investment of OMR 60 million, according to OMRAN and Muscat Daily.
• Disclosed payment structure at Luma. The eight-instalment plan, the annual service charge and the stated 50% due at handover are set out on our listing.
• Bank financing. Ahlibank signed to fund the Luma project and to finance buyers of various nationalities, per Oman Observer and Muscat Daily.
• Location. Bandar Jissah is about 25 minutes from central Muscat and 35 to 40 minutes from the airport on our listings.

Related Developer Profiles

OMRAN Group, a shareholder in Muscat Bay Oman, also has its own page: see our OMRAN Group profile. Profiles of other developers with projects on our lists include Muriya, Dar Global, Eagle Hills Muscat, Al Mouj Muscat, Diamond Developers, Talaat Moustafa Group, Alargan Towell and Mira Developments, and the developers hub and the guide to Oman property developers give the wider map. For rental returns on a specific home, see our rental yields guide.

What to Prepare When Reserving at Muscat Bay Oman

These are the documents and details a buyer normally receives or confirms when reserving: the reservation form, the sale and purchase agreement, the payment schedule, the escrow account details and the handover schedule.

1. Seller identity. The contract party for the completed homes and Luma is Saraya Bandar Jissah or its Muscat Bay successor; for Zen it is Zen Development and Investment; for Al Mina it is the Barr Al Jissah entity. The legal name, commercial registration number and signatory’s authority can be checked against the register of the Ministry of Commerce, Industry and Investment Promotion.
2. Developer stock or resale. The process and the warranties differ between the two. On a resale, the seller’s service charge statement and a clearance letter are normally provided.
3. ITC status of the plot. The document places the specific unit inside the Integrated Tourism Complex and confirms that freehold title can be registered to a foreign buyer.
4. A visit to the home. For completed stock, buyers can walk the unit and the neighbouring ones and see the common areas.
5. Service charge statements. Two years of invoices for the specific home, with the rate stated in rials per square metre per year.
6. Cash and instalment prices. For completed homes, both prices in writing, including the deposit; the difference is the cost of the financing.
7. Escrow details for Luma. Bank name, account holder, the law under which the account was set up, and written confirmation that every payment goes to it, together with the handover schedule for Q1 2029.
8. Hotel and club arrangements. If a residents’ club or hotel discount is part of the sale, it is set out in the contract.
9. Residency documentation. The route being used, checked against the Ministry rules and the OMR 200,000 single-property test.
10. Short-term letting. Holiday lets need a tourism licence and may be subject to community rules or routed through an approved operator.
11. Exit route. Assignment before handover, the transfer fee and the earliest date. Our guide to selling property in Oman sets out the costs.

Frequently Asked Questions

Who is the developer behind Muscat Bay Oman?

Muscat Bay Oman is developed by Saraya Bandar Jissah, now trading as Muscat Bay, a partnership between the state-owned OMRAN Group and Saraya Oman, a subsidiary of Jordan-based Saraya Holdings. The company, founded in 2007, renamed itself Muscat Bay in April 2017. Zen Residences and Al Mina are not by this company.

Is Muscat Bay Oman finished or still under construction?

Muscat Bay Oman has both completed and under-construction parts. The first phase of villas and apartments (22 at Wajd, 33 at Nameer, 200 at Zaha) was announced complete in the second quarter of 2019, and the Jumeirah Muscat Bay hotel has operated since June 2022. Luma Residence, with 240 homes, was launched in January 2026 and is under construction, with a handover of Q1 2029 on our listing.

Is Zen Residences built by the Muscat Bay company?

No. Zen Residences sits inside the Muscat Bay community but is developed by Zen Development and Investment, an Omani company, which launched it on 6 March 2024. The Muscat Bay chief executive took part in the launch, but a Zen buyer’s contract and warranties are with Zen Development.

Is Al Mina part of Muscat Bay Oman?

No. Al Mina belongs to the neighbouring Barr Al Jissah resort, which opened in 2006 and is attributed in the press to the Zubair Corporation. We list it close to Muscat Bay because buyers compare the two, but its developer, payment plan and track record are separate from the Muscat Bay company.

Can foreigners buy freehold at Muscat Bay Oman?

Yes, according to the developer and to our listings: Muscat Bay Oman is an Integrated Tourism Complex, which permits freehold ownership by non-GCC buyers, with title registered in the purchaser’s name. The ITC status of the specific unit is confirmed in the reservation documents. See our guide to freehold property in Oman.

Does buying at Muscat Bay Oman give residency?

It depends on the route. The Golden Residency needs a single ITC property worth at least OMR 200,000 (about $520,160), and the Owner Visa has no minimum. On our entry prices the Muscat Bay villa and the Luma townhouse and villa are above that figure, while the apartments are below it. The developer’s website refers to “free residency” for property holders; the conditions of each route follow the Ministry rules.

What is the Luma Residence payment plan?

The Muscat Bay Oman launch Luma Residence uses eight instalments, per our listing: 2.5% on booking, 7.5% at signing, 5% at six and twelve months, 10% at each of three construction milestones and 50% on completion. Half the price is therefore due at handover. The reservation documents set out the escrow account details.

How much does a home at Muscat Bay Oman cost?

On our listings, completed apartments start at about OMR 90,000 ($234,100) and villas at about OMR 344,900 ($897,000). Luma starts at about OMR 115,500 ($300,500) for an apartment and OMR 250,000 ($650,200) for a villa. Zen starts at about OMR 138,000 ($358,900), and Al Mina at about OMR 184,300 ($479,200). Prices change, so ask for the current list.

What should I prepare when reserving at Muscat Bay Oman?

When reserving at Muscat Bay Oman, a buyer normally receives the reservation form, the sale and purchase agreement, the payment schedule, the escrow account details and the handover schedule, and confirms the seller’s legal name, whether the unit is developer stock or a resale, the ITC status of the plot and the service charge in rials per square metre.

Ask us about Muscat Bay projects

Last checked: 9 October 2026. Sources: muscatbay.com, Muscat Daily on Luma, Oman Observer on Luma, OMRAN on Jumeirah Muscat Bay, Muscat Daily, August 2022, Wikipedia (lead only), LinkedIn, muscatbay.com, Why Oman, muscatbay.com, About, Wikipedia on OMRAN (lead only), plus the sources linked in the text above.