Al Adrak Group, a leading engineering construction company in Oman, has signed an agreement with the Ministry of Housing and Urban Planning (MoHUP) for the development of a premium mixed-use urban project within the mega Sultan Haitham City in capital Muscat at a total investment of RO185 million ($420 million), reported Omanet.

This project will cover an area of around 460,000 sq m in Neighbourhood 6 (C and D). This initiative represents a notable step forward in the growth of one of Oman’s most ambitious urban projects.

The deal was officially signed by Dr Khalfan bin Said al Shueili, the Minister of Housing and Urban Planning, and Dr. Thomas Alexander, Chairman of Al Adrak Group, in the presence of senior officials.

This development aligns with the Ministry’s strategy to collaborate with prominent private sector developers to create high-quality, sustainable urban communities that support Oman Vision 2040. 

It is anticipated that the project will both enhance the residential appeal and increase the investment attractiveness of Sultan Haitham City as development advances, stated the report.

Al Adrak Group brings a wealth of experience in real estate and infrastructure development. Through its subsidiary, Adante Realty, the group is currently working on the Yenaier Residences, a flagship project that is generating considerable market interest.

The announcement underscores a pivotal shift toward public-private partnerships, enhancing Oman’s residential appeal and making it a more attractive investment hub, reported Omanet. 

This initiative presents opportunities for businesses in the real estate sector to engage in high-quality, sustainable projects aligned with Oman Vision 2040, it added.