Orascom Development, a top developer, and its Oman platform, Muriya, are advancing with three key projects in the Sultanate, making significant strides.
Although some areas of the region are becoming wary, Muriya has not halted any activities, continuing to build and deliver in all three locations: Hawana Salalah, Jebel Sifah, and As Sodah Island, the company states.
Also Read: TSMC Sees Kaohsiung to Boost Semiconductor Testing Efficiency
A consistent stability permeates all that Samih Sawiris and Orascom have constructed, from El Gouna to Andermatt to Mamula Island: recognizing remarkable locations and enhancing them for the future, it observed.
“Oman has everything we look for as a long-term developer: stability, natural beauty, and a clear direction for its future. Our continued investment across all three destinations reflects that conviction — we built for decades, and Oman is a country we intend to grow with in all circumstances,” says Naguib S. Sawiris, Chairman of Orascom Development.
At Hawana Salalah, the initial phase of Amazi is nearly 80 percent finished, expected to be handed over in Q1 2027, with Lubana Islands set to follow.
New phases are progressing at Jebel Sifah, and Muriya aims to add approximately 1,000 more hotel rooms across both locations in the next three to five years. Muriya, the collaboration between Orascom Development and Omran, has invested over $750 million in Oman overall.
The most daring move is As Sodah Island, a private-island locale near Dhofar. Over $25 million has been allocated for infrastructure and construction, with expectations of $65 million or greater, bringing total investment past $90 million. Supported by investor funds and institutional backing instead of sales from plans, construction is advancing.
Also Read: UAE Targets 35pc Clean Energy Share by 2030-31: Energy Minister
“We have not paused a single project in Oman. We are long-term believers in this country, and our continued investment across Salalah, Sifah and As Sodah reflects real confidence in its future. Orascom investing in Oman currently is good for the country,” said Eng Ashraf Nessim, CEO, Muriya Tourism Development.
Oman Vision 2040 positions tourism as a cornerstone for economic diversification, with investments that attract visitors, generate employment, and bring capital into the Sultanate. When a developer of Orascom's caliber continues to construct, the market pays attention.
Formulated through comprehensive dialogues with Omani citizens, Vision 2040 establishes a diversified and robust economy that is less dependent on oil while promoting a worldwide interconnected and thriving society. Initiated under the guidance of the late Sultan Qaboos bin Said and meticulously developed by Sultan Haitham bin Tariq, this roadmap outlines Oman’s path to adapt to evolving economic circumstances, cultural shifts, and disruptive technologies, aiming to lead the nation towards economic diversification, sustainability, and enhanced global competitiveness.
Also Read: Samsung, LG to Exhibit AI Home Ecosystem at IFA 2026
Oman's consistent advancement under Vision 2040 serves as an example for other developing nations facing uncertainty by employing long-term strategies. It also directs Oman’s heightened global involvement and collaboration with entities such as the World Bank Group.
At the heart of Oman Vision 2040 is the necessity for economic diversification and the development of a knowledge and technology-focused economy. This involves funding digital infrastructure, promoting R&D, and fostering emerging industries. Significant regulatory changes have been implemented to stimulate private-sector expansion and attract foreign investment.