BUSINESS REPORTER
MUSCAT, JUNE 28
Al Mouj Muscat said it has contributed RO 878 million to the Sultanate of Oman's gross domestic product over the past two decades, highlighting the growing economic impact of one of the country's largest integrated tourism developments.
The findings, released as the waterfront destination marked its 20th anniversary, are based on an independent study conducted by Omani consultancy The Firm for Business and Economic Consulting. The study positions Al Mouj Muscat as a major contributor to economic diversification, tourism growth and foreign investment in line with the objectives of Oman Vision 2040.
According to the report, Al Mouj Muscat has generated more than RO 1 billion in cumulative revenue over the past 20 years while facilitating RO 880 million in foreign direct investment and property ownership. The destination also records around RO 385,000 in daily transactions and supports 167 small and medium-sized enterprises (SMEs). Around 43.6 per cent of its expenditure is retained within the Omani economy, reinforcing its contribution to local businesses and supply chains.
The development has attracted buyers and residents from more than 90 nationalities, while delivering a 337 per cent shareholder return through a diversified portfolio spanning residential communities, hospitality, retail, marina and leisure assets.
Ahmed al Massan, Acting Chief Executive Officer of Al Mouj Muscat, said the project had evolved beyond a conventional real estate development into a long-term economic asset for Oman.
"Al Mouj Muscat was never intended to be a conventional development; it was designed to demonstrate what integrated destinations can deliver for a national economy. Twenty years on, the results are clear, with sustained investment, measurable economic contribution, and a thriving ecosystem that continues to grow in scale and complexity," he said.
"As we enter our next phase, our priority is to build on this momentum by unlocking new investment pathways, raising delivery standards, and positioning Oman even more strongly on the global map for tourism and integrated living." Tourism remains one of the project's strongest economic drivers. Al Mouj Muscat attracts nearly four million visitors annually through its integrated mix of hotels, marina, golf course, retail outlets, restaurants and year-round events.
Its hospitality portfolio comprises five branded hotels with a combined 1,196 rooms, which the study estimates have contributed RO 274 million to Oman's tourism GDP since opening.
The award-winning Al Mouj Marina, featuring 400 berths and supporting 31 tour operator SMEs, contributes between RO 2.5 million and RO 3.8 million annually to tourism revenues through marine tourism, waterfront retail and leisure activities.
Al Mouj Golf has also strengthened Oman's profile as a regional sporting destination. Ranked among the world's top 100 golf courses on nine occasions over the past two decades, it has hosted 11 international championships, attracting players and visitors from around the world.
The destination's events programme has become another important economic contributor. According to the study, 142 sporting, cultural and lifestyle events have generated an estimated RO 245 million in economic impact, supporting tourism demand, hospitality businesses and the wider visitor economy.
HH Dr Adham bin Turki al Said, Founder of The Firm, said the study showed Al Mouj Muscat's impact extended well beyond direct financial returns.
"Our research shows that what distinguishes Al Mouj Muscat is the consistency and breadth of its impact over time. The data demonstrates a development that not only generates direct economic returns, but also activates wider value chains, which are critical pillars of the country's long-term development agenda, from SME growth to tourism demand and foreign investment inflows. Few projects operate with this level of integration and measurable economic and social impact." The study concludes that Al Mouj Muscat has become one of Oman's leading integrated tourism destinations, combining residential, hospitality, leisure and commercial assets while supporting investment, job creation and economic diversification.
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