Oman has signed a tourism development agreement worth more than RO400 million ($1.04 billion) for an integrated tourism complex in Dhofar, as the Sultanate steps up investment in the sector and broader urban development.

The agreement between Oman’s Ministry of Heritage and Tourism and Dhofar Tourism Company for Modana was the largest deal announced during an investment forum held as part of Urban October at the Oman Convention and Exhibition Centre.

The forum saw agreements worth more than RO550 million ($1.43 billion) signed across tourism, education, real estate, food security and housing.

The Modana development is expected to strengthen Dhofar’s tourism infrastructure and expand the range of integrated tourism offerings in the governorate, supporting Oman’s efforts to develop destinations capable of attracting visitors and investment.

The agreements come as Oman continues to promote tourism as a key component of economic diversification, with investment in new destinations, hospitality and supporting infrastructure forming part of efforts to broaden the Sultanate’s tourism offering.

The forum also featured a memorandum of understanding between the Ministry of Housing and Urban Planning and Hamptons International to support the Real Estate Development Services Centre and facilitate investment-related services.

In addition, 197 usufruct agreements were signed across tourism-adjacent and other development sectors, including 85 agreements in food security covering around 26,000 acres and investments exceeding RO53 million.

The event also highlighted urban planning and regeneration projects across Oman, including master plans for Salalah, Muscat, Sur, Ibri, Al Rustaq and Nizwa.

The tourism agreement in Dhofar was among the most significant deals announced at the forum, reinforcing the role of destination development and private-sector investment in Oman’s plans to expand its tourism economy and create new opportunities for visitors and investors. -TradeArabia News Service