MUSCAT : Oman signed investment and development agreements worth more than RO550 million ($1.43 billion) during Urban October 2026 in Muscat, led by a tourism complex valued at over RO400 million, Oman News Agency reported.

The agreements, announced at an investment forum at the Oman Convention and Exhibition Centre, covered tourism, real estate, education, food security, housing and small and medium-sized enterprises.

The largest deal was signed between the Ministry of Heritage and Tourism and Dhofar Tourism Company to develop the Madana integrated tourism complex. Its investment value accounts for more than two-thirds of the announced package.

An education agreement worth more than RO10 million was signed between Al Daham Real Estate and Al Injaz International Private School to establish an international school within the Saraya Bawshar residential project, part of Oman’s Sorouh developments.

The forum also produced 197 usufruct agreements, granting rights to use land for food-security, SME and property projects.

Of these, 85 agreements signed in partnership with the Ministry of Agriculture, Fisheries and Water Resources covered about 26,000 acres, with investment exceeding RO53 million.

Another 30 agreements, concluded in cooperation with the Small and Medium Enterprises Development Authority, covered around 15,000 square metres and investment of more than RO1.3 million.

A further 82 agreements signed through the Tatweer platform covered more than 93,000 square metres. They included the RO78 million Tilal Al-Amerat project in Muscat Governorate and a 3,000-square-metre site for a fuel station operated by Al Rahma Association for Motherhood and Childhood Care in Al-Amerat.

Several agreements focused on housing assistance for low-income families and orphans.

A cooperation agreement with Al Rahma Association will support the SAS housing programme, backed by Sobha Group founder and chairman PNC Menon, which aims to build 300 homes in Muscat and other governorates.

Three projects under the programme will provide 63 homes in Al Musannah and Barka at a combined cost exceeding RO2.139 million.

A separate agreement between the Ministry of Housing and Urban Planning and the Oman Charitable Organization will finance 71 homes, supported by more than RO2 million from the Energy Sector Social Responsibility Development Foundation, Rikan.

These include 21 homes in the Habroot Triangle in Al Mazyunah, Dhofar Governorate, and 50 housing-assistance units elsewhere in Oman.

The housing ministry, the Office of the Governor of South Al Sharqiyah and Al Yusr Charitable Foundation also signed an agreement to build 46 homes in the Al Nahdah masterplan in Masirah.

In property financing, BankDhofar and Al Ahly Sabbour Oman signed a RO10 million agreement for the Wadi Zaha project in Sultan Haitham City, alongside an agreement to finance individual residential units.

Ahli Bank signed financing agreements with Al Nama Real Estate for the Hay Al Nama project in Izki and with Talaat Moustafa Group. Ahli Islamic also signed an agreement with Talaat Moustafa Group.

The housing ministry signed a memorandum of understanding with Hamptons International to improve services at the Real Estate Development Services Centre and facilitate investment.

Other agreements covered a sports and health trail in Sultan Haitham City, elevator supplies for the Wasl Grand and Al Masharif Villas developments, and the production of heritage pieces for property projects.

The forum also included initiatives covering construction standards, research and training.

The housing and tourism ministries, together with Madayn’s Industrial Innovation Academy, announced an Earth Architecture Project. The housing ministry separately signed a cooperation agreement with Sultan Qaboos University for technical training and research linked to Oman’s building requirements and standards guide.

The agreement covers training for engineers in the public and private sectors and studies on the economic and social effects of implementing the guide.

Representatives of 31 buildings awarded the Urban Compliance Certificate were recognised during the event.

Organised by the Ministry of Housing and Urban Planning, the four-day Urban October gathering brought together developers, investors, policymakers and urban planners. Masterplans for Ibri, Salalah, Muscat, Sur, Al Rustaq and Nizwa were among those presented.

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