Muscat – Oman signed 17 investment and development agreements worth more than RO762mn during its participation in MIPIM 2026 in Cannes, France, which concluded on Friday, highlighting growing international interest in the sultanate’s urban development projects.

The agreements were signed by the Ministry of Housing and Urban Planning and cover projects linked to future cities, integrated residential neighbourhoods, agriculture and healthcare infrastructure.

Among the largest deals was a memorandum of understanding with Turkish developer Artas Holding to develop the Al Khuwair Downtown project in Muscat with an investment exceeding RO150mn. The project is expected to support the transformation of Al Khuwair into a modern urban and economic hub in the capital.

The ministry also signed a strategic cooperation agreement with OGCC Global to explore opportunities for developing the Al Khuwair Downtown project. The partnership, valued at more than RO150mn, aims to enhance the district as an integrated urban destination supporting business and investment activity in the heart of Muscat.

Regional investment interest was also reflected in an agreement with Saudi developer Retal Development to develop neighbourhoods 3, 15 and 17 in Sultan Haitham City. The project spans more than 1.39mn sqm and represents an investment exceeding RO320mn.

Several agreements were signed for development projects in Al Thuraya City. A development agreement with Vogue Homes Portugal will support urban projects within the city’s master plan with an investment exceeding RO25mn.

Another agreement will see branded residences developed in Al Thuraya City through an international partnership involving Avant Garde Properties, F&M International, Metrogramma and The One Atelier. The project, valued at RO50mn, aims to develop a residential neighbourhood within the city’s master plan.

In the agriculture sector, the ministry signed a land investment agreement with GOC Company to plant 1mn olive trees in Dhofar. The project, valued at more than RO15mn, aims to support sustainable agriculture and economic diversification.

The ministry also signed an agreement to develop advanced 3D digital models for real estate projects with an investment exceeding RO408,000, aimed at improving urban planning and design efficiency.

In the healthcare sector, Al Daham Real Estate Company signed a consultancy cooperation agreement with Kubba – valued at about RO11.5mn – to develop and operate specialised healthcare facilities in Oman.

Another memorandum of understanding was signed between Al Abrar Real Estate Group and Vienna Hospital & University to operate and manage Ibn Al Haitham Hospital, with an investment exceeding RO40mn.

Separately, the Greater Muscat Master Plan and the Al Khuwair Downtown Master Plan were announced as the first projects in the Middle East to join the Global Business Districts Innovation Club.

Jamal bin Nasser Al Hadi, media advisor to the Minister of Housing and Urban Planning, said the agreements reflect growing interest from international investors in the sultanate’s urban development projects and highlight the role of the Future Cities programme in attracting strategic partnerships.

Key numbers

         •        RO320mn – Investment for neighbourhoods in Sultan Haitham City

         •        RO150mn – Investment for Al Khuwair Downtown project 

         •        RO50mn – Branded residences project in Al Thuraya City

         •        RO25mn – Urban development project in Al Thuraya City

         •        RO15mn – Investment for olive cultivation project

         •        RO40mn – Investment for Ibn Al Haitham Hospital management and operations