Talaat Moustafa Group Holding (TMG), a leading real estate development company in the region, has partnered with Al Muhaidib Group, one of the largest conglomerates in the Kingdom of Saudi Arabia, for the launch of its two premier projects - Jood and Yamal - in the sultanate of Oman, being set up at an investment of more than $5 billion. 

Spanning over 4.9 million sq m area, these two developments will feature more than 15,000 residential and tourism units designed to meet the highest international standards and support the objectives of Oman Vision 2040.

A sustainable, smart residential community, Jood will incorporate diverse housing units, expansive green spaces and recreational facilities, while Yamal is being designed as a world-class coastal destination extending along 1,760m of pristine beachfront on the Gulf of Oman which will boast an international marina, luxury hotels, recreational and sports facilities, as well as residential and tourism units with direct views of the sea and marina.

The projects were unveiled under the patronage of Dhi Yazan bin Haitham Al Said, Minister of Culture, Sports, and Youth, at a key event which was attended by senior officials and dignitaries, along with leadership from both groups. 

Speaking on the occasion, CEO and Managing Director Hisham Talaat Moustafa said the launch of these two projects marks a significant milestone in the group’s regional expansion strategy. 

“Selecting the Sultanate of Oman followed extensive studies confirming the market’s attractiveness and suitability for replicating the group’s successful development models in Egypt and Saudi Arabia,” he stated. 

According to him, these new projects will contribute to creating a comprehensive urban experience targeting more than 1.5 million people across Oman, Iraq, and Saudi Arabia between 2025 and 2030, reaffirming the group’s commitment to smart city concepts, sustainability, and enhanced quality of life across all its developments.

“Jood is a modern residential community in Sultan Haitham City, offering 7,746 villas and apartments, extensive green spaces, and integrated commercial, cultural, and recreational facilities designed for walkability, privacy and community living,” he stated.⁠

“Yamal is being designed as a luxury coastal destination along Seeb’s shoreline, featuring over 6,200 residential units, a hotel, marina, retail promenade, and leisure spaces, all designed to connect residents with nature and the waterfront,” he added.⁠

Al Muhaidib Group CEO Essam A.K Al Muhaidib expressed pride in launching the projects in partnership with Talaat Moustafa Group.

This collaboration, he stated, aligns with Al Muhaidib’s strategic plans for regional expansion. 

The Jood and Yamal projects reflect the tremendous development opportunities within the Omani market and mark the beginning of a new phase of high-quality projects that serve Gulf communities and adhere to world-class development standards, he noted. 

TMG’s longstanding expertise in developing fully integrated cities significantly strengthens this partnership and opens wider horizons for future expansion across the region, he added.-TradeArabia News Service