MUSCAT: Al Mouj Muscat has attracted RO 880.00 million in foreign direct investment since its launch two decades ago, reinforcing its position as one of Oman's largest integrated tourism and real estate developments.
An economic impact study commissioned by the project showed Al Mouj has generated more than RO 1.00 billion in revenue and contributed RO 878.00 million to Oman's gross domestic product.
Acting Chief Executive Officer Ahmed bin Abdullah al Musan said the development had become a key contributor to economic diversification, tourism and private-sector growth.
He said Al Mouj has supported 167 small and medium-sized enterprises, with local content valued at RO 560.00 million, equivalent to 43.6 per cent of project spending.
The integrated waterfront development includes five international hotels, among them Kempinski Muscat, The St Regis Al Mouj Muscat Resort and voco Muscat Al Mouj, while the Okura Al Mouj Muscat Resort is scheduled to open in 2027 as Oman's first Japanese-branded resort.
Al Mouj Golf has hosted 11 international tournaments, while the marina provides 400 berths and supports 31 tourism-related SMEs.
According to Al Musan, the project has delivered returns of 337 per cent for shareholders through a diversified portfolio spanning residential property, hospitality, retail, marina and leisure assets.
The community comprises residents and investors from more than 90 nationalities. So far, 3,272 residential units have been completed, housing over 8,000 residents, with the population expected to reach about 19,000 upon completion of the master plan.
The project has created 2,200 direct jobs and 5,738 indirect jobs, invested about RO 1.00 million in training and skills development, and spent more than RO 6.30 million on community initiatives.
Around 80 per cent of the master plan has now been completed, while Al Mouj attracts approximately four million visitors annually.
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