Muscat: Since its launch 20 years ago, the Al Mouj Muscat project has attracted RO880 million in foreign direct investment, while its total revenues have exceeded RO1 billion, with daily transactions averaging around RO385,000.
An economic study conducted by a specialized company to measure the project's economic and social impact revealed that Almouj, Muscat's contribution to the Sultanate of Oman's GDP reached RO878 million, contributing to sustainable economic and social development and boosting investment.
Ahmed bin Abdullah Al-Masn, acting CEO of The Al Mouj, Muscat, said that the project has achieved numerous positive outcomes in economic diversification and enhancing investment in the tourism sector and related industries, in addition to supporting entertainment and sports programs.
He said that the project has contributed to the growth of the private sector by supporting 167 small and medium enterprises (SMEs), with a local content rate of 43.6 percent, representing OMR 560 million.
He noted that the project includes five international hotels, among them the St. Regis Al Mouj Muscat Resort, the voco Muscat Al Mouj Hotel, and the Kempinski Muscat Hotel, in addition to the Okura Al Mouj Muscat Resort, scheduled to open in 2027, which will be the first Japanese-branded resort in the Sultanate of Oman.
The Al Mouj Golf Course has hosted 11 international tournaments, reflecting its importance in establishing Al Mouj Muscat as an exceptional sporting destination in the region. He added that Al Mouj Marina contributes to supporting marine tourism, entrepreneurship, and local business development, featuring 400 berths and 31 small and medium-sized enterprises specializing in organizing tours, along with numerous shops, restaurants, and cafes along the waterfront.
Al Mouj Muscat has achieved strong long-term financial results, with shareholder returns reaching up to 337 percent. He pointed out that Al Mouj Muscat's community includes owners and investors from over 90 nationalities, reinforcing its position as one of the most attractive investment projects in the Sultanate of Oman. He explained that 3,272 residential units have been delivered, housing more than 8,000 people, and the population is expected to reach 19,000 upon project completion.
He emphasized that the project has created 2,200 direct jobs and 5,738 indirect jobs, in addition to investing up to RO1 million in training, education, and capacity building.
The Acting CEO of Al Mouj Muscat stated that the project is currently finalizing the remaining waterfront residential units and developing new commercial spaces, community and recreational facilities, and retail outlets. He noted that 80 percent of the project's master plan has been completed, and that Al Mouj Muscat attracts approximately RO4 million visitors annually, representing an annual growth rate of 38.5 percent.
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