Muscat – Future Fund Oman (FFO), under Oman Investment Authority, has announced a new portfolio of 105 projects valued at RO583mn, spanning sectors including renewable energy, tourism, healthcare, advanced industries and technology.

The portfolio includes RO225mn in commitments from FFO, RO176mn in local investment and around RO182mn in foreign direct investment (FDI). The projects are projected to create 2,302 jobs, with 568 positions already filled.

The announcement was made during a special event showcasing the fund’s latest investments and its role in supporting Vision 2040 through economic diversification, private sector development and FDI.

Mulham bin Basheer Al Jarf, Deputy President of Investment at Oman Investment Authority, said the projects reflect FFO’s strategy of directing capital towards priority sectors capable of generating long-term economic value.

“Since its launch in early 2024, FFO has worked to position itself as an economic catalyst and investment partner by supporting promising projects, enabling private sector growth and attracting strategic investors to Oman,” he said.

Among the largest investments is the Orion Solar Project in Sohar Freezone. The facility is planned as the Middle East’s first integrated solar cell and module manufacturing plant, with annual production capacity of 6GW, supporting the localisation of Oman’s solar energy value chain.

FFO has also invested in the Jalant Industrial Project in Salalah, which will manufacture lithium iron phosphate cathode active materials used in electric vehicle batteries and energy storage systems. The facility is expected to produce 66,000 tonnes annually.

In tourism, the fund has backed the Al Sawdah Island Resort project in the Hallaniyat Islands, an integrated development covering approximately 10km of coastline with hospitality and leisure facilities.

The fund also invested in Station 11, described as Oman’s first integrated innovation hub, bringing together startups, venture capital firms, research institutions and policymakers to strengthen the sultanate’s technology ecosystem.

Healthcare, tourism and technology

FFO announced investments of RO77mn each in Vivo Capital Fund, a global life sciences investment fund, and Certares Fund, which specialises in tourism, travel and hospitality assets.

It also launched the Healthcare Investment Fund with capital of RO50mn to target opportunities in healthcare services, pharmaceuticals, medical technology, digital health, diagnostics and medical research.

Other investments include cybersecurity firm XCyber, animal nutrition producer Alma, pharma  manufacturer Alwajer Pharmaceuticals, the planned Women and Children’s Speciality Hospital in Muscat, and agricultural company Yuzu.

Startup ecosystem expands

FFO stated that it supported 85 projects at the incubation stage and 53 startups through partnerships with venture capital and innovation funds. It also backs 96 small and medium enterprises through dedicated financing platforms.

The fund said the growing portfolio underlines its efforts to build new industries, strengthen entrepreneurship and attract investment into sectors seen as critical to Oman’s long-term economic transformation.