Fund to provide structured capital for property projects as Oman’s urban development pipeline expands
Muscat: Oman National Investments Development Company, known as Tanmia, and FIM Partners Muscat SPC have announced a partnership to launch and co-manage the Oman Real Estate Development Fund, targeting at least US$250 million in real estate development investments across the Sultanate.
The fund will focus on economically viable property projects and is expected to invest through preferred equity and other investment instruments, according to a joint statement.
The structure is aimed at providing developers with flexible capital while applying investment oversight to support project delivery. The companies said the fund would seek to attract institutional and private capital into Oman’s real estate market.
The move comes as Oman continues to expand urban development, infrastructure investment and mixed-use projects under the wider objectives of Oman Vision 2040. Demand for residential, commercial, hospitality and integrated developments has increased in key locations, although project delivery remains dependent on financing conditions, planning approvals and market demand.
Khalid Al Balushi, Chief Executive Officer of Tanmia, said the partnership forms part of Tanmia’s strategy to build institutional investment platforms and broaden financing options for developers in Oman’s real estate sector.
Fares Bou Atme, Head of Real Estate at FIM Partners, said the fund reflects the firm’s continued interest in Oman’s property market and its plan to expand its investment presence in the Sultanate.
The statement did not disclose the fund’s first closing date, targeted projects, expected deployment timeline or investor commitments.
Tanmia is an Omani investment company focused on public and private markets, asset management and the development of investment funds and platforms. FIM Partners is an investment management firm focused on emerging, frontier and MENA markets, with close to US$5 billion in assets under management. The company has been investing in Oman’s real estate market for more than seven years.
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