Egyptian developer Al Ahly Sabbour Real Estate Development has signed a RO10 million ($26 million) finance deal with Bank Dhofar to support construction and development at its Wadi Zaha project, featuring  824 residential and commercial units within Sultan Haitham City.

The agreement was signed during the Urban October 2026 exhibition in Muscat, where the Egyptian developer is participating for the second time. The four-day event concludes tomorrow (October 8) at the Oman Convention and Exhibition Centre.

The financing will support ongoing and future development phases at Wadi Zaha and help the company maintain construction work in line with its planned schedule, Al Ahly Sabbour said.

Wadi Zaha was launched in the first quarter of 2025 and has sold about 80% of them. The company said it has achieved about 70% of its 2026 sales target of RO33 million. 

Buyers at Wadi Zaha represent 48 nationalities, highlighting demand from both domestic and international markets, added.

Construction is currently under way on about 350 of the residential units, including villas, townhouses and mixed-use buildings and is due for completion in 2028. The first deliveries are scheduled to begin in the second half, it added.

During the event, Al Ahly Sabbour also unveiled its new project - Zaha Residence - a residential component of Wadi Zaha and its first luxury residential offering in Oman.

The project includes studios and one- to three-bedroom apartments ranging from 39 sq m to 128 sq m. Units have views of the central park, valley and Sultan Haitham Mosque, while the development is located close to commercial areas, services and other landmarks in Sultan Haitham City.

"The development will include residential, commercial and service components, as well as recreational facilities including a swimming pool, sports facilities and a spa," said a company spokesman. 

"Units are planned to be delivered fully finished and semi-furnished, with selected kitchen appliances, air-conditioning units and built-in wardrobes, he stated.

The Egyptian developer is also preparing to launch Wadi Safa, another planned integrated development in Oman, as it seeks to broaden its project portfolio in the country.