Al Mouj Muscat attracts OMR880mn in FDI, contributes OMR878mn to Oman’s GDP

Al Mouj Muscat, an integrated waterfront development, has attracted OMR880 million in foreign direct investment since its launch two decades ago, according to an economic impact study. The project has generated over OMR1 billion in total revenues and contributed OMR878 million to Oman's gross domestic product (GDP), underscoring its significant role in the nation's economy.

The study highlights Al Mouj Muscat's contribution to sustainable development, investment promotion, and economic diversification. Ahmed Al Massan, Acting CEO of Al Mouj Muscat, stated that the development has been instrumental in promoting tourism and related industries, while also fostering growth in entertainment, sports, and the private sector. The project has directly supported 167 small and medium enterprises (SMEs), with local content accounting for OMR560 million, or 43.6 percent.

Al Mouj Muscat hosts five international hotels, with The Okura Al Mouj Muscat Resort set to open in 2027 as the first Japanese-branded resort in Oman. Al Mouj Golf has hosted 11 international tournaments, enhancing the destination's reputation as a sports hub. Al Mouj Marina, equipped with 400 berths, supports marine tourism and entrepreneurship through 31 SMEs offering tourism services, retail, and dining.

The development's diversified business model, encompassing residential real estate, hospitality, retail, marina facilities, and leisure, has yielded strong long-term financial returns, with shareholder returns reaching 337 percent. The community is home to residents and investors from over 90 nationalities. To date, 3,272 residential units have been delivered, accommodating over 8,000 residents, with an expected population of around 19,000 upon completion. The project has generated 2,200 direct jobs and 5,738 indirect jobs, alongside an OMR1 million investment in training and capacity-building initiatives. Furthermore, over OMR6.3 million has been allocated to corporate social responsibility programs.

Approximately 80 percent of Al Mouj Muscat's master plan is complete. Current work focuses on the final waterfront residential areas and new commercial, community, entertainment, and retail facilities. The development attracts about 4 million visitors annually, with a 38.5 percent annual visitor growth rate, solidifying its status as a premier tourism, lifestyle, and investment destination in Oman.

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the integrated waterfront development has played a significant role in promoting tourism and related industries, while supporting entertainment, sports, and private-sector growth.