Orascom Development and Muriya Affirm Long-Term Commitment to Oman with Continued Investment

Orascom Development and its Sultanate platform, Muriya, are moving forward with their operations in Oman. The companies state that their continued investment in the country attracts visitors, creates employment opportunities, and draws capital into the Sultanate. This strong commitment shows their belief in the long-term potential of Oman's burgeoning tourism sector and its broader economic diversification goals.

Progress Across Destinations

Muriya has demonstrated unwavering dedication by continuing its construction and delivery efforts across all three of its Omani destinations: Hawana Salalah, Jebel Sifah, and As Sodah Island. The company has paused nothing, maintaining active development and construction schedules. At Hawana Salalah, the Amazi project is nearing completion, with its first phase approximately 80% finished. This significant progress positions the first phase for an anticipated handover in the first quarter of 2027. The Lubana Islands project is also firmly established in the development pipeline for Hawana Salalah, indicating continuous expansion plans for this integrated tourism complex.

Concurrently, at Jebel Sifah, new phases of development are actively advancing, showcasing Muriya's commitment to evolving this destination. As Sodah Island is described as a private island destination situated off the coast of Dhofar, offering an exclusive retreat. The ongoing work reflects Muriya's steadfast commitment to developing these integrated tourism complexes within Oman. These consistent efforts highlight the company's strategic vision for enhancing the Sultanate's tourism infrastructure and appeal. The company's consistent progress across these diverse locations shows its long-term investment strategy in the Sultanate's tourism sector, contributing significantly to its growth and development.

Future Expansion Plans

Muriya is set to significantly expand its hospitality offerings with ambitious plans for approximately 1,000 additional hotel rooms across Hawana Salalah and Jebel Sifah within the next three to five years. This substantial expansion signals continued growth in its integrated tourism complexes, meeting the increasing demand for high-quality accommodation. These new rooms will cater to a diverse range of visitors, further solidifying the appeal of these destinations. For As Sodah Island, the company has already invested more than US$25 million in infrastructure and construction, laying a strong foundation for its future. Further development is anticipated for As Sodah Island, with an additional US$65 million or more projected for investment, demonstrating a significant capital injection. This planned capital injection will bring the total investment in As Sodah Island beyond US$90 million. Construction on As Sodah Island is progressing steadily, reflecting the ongoing commitment to transform this exclusive destination. These forthcoming developments show Muriya's ongoing commitment to enhancing its portfolio and contributing substantially to Oman's tourism sector, aligning with national economic objectives.

Strategic Alignment and Vision

Tourism serves as a cornerstone for economic diversification under Oman Vision 2040. The nation's long-term strategy identifies tourism as a key driver for sustainable growth, aligning perfectly with Orascom Development and Muriya's investment focus. This strategic congruence supports the development of integrated tourism complexes, which are key for attracting international visitors and fostering local economic activity. By investing in these large-scale projects, Muriya directly contributes to the Sultanate's broader economic objectives, including job creation and foreign capital inflow. The emphasis on expanding hospitality offerings and infrastructure development by Muriya directly supports the national vision to enhance Oman's appeal as a global tourist destination. This alignment ensures that Muriya's projects are not only commercially viable but also strategically important for the nation's future.

Developer's Long-Term Confidence

Muriya, a powerful partnership between Orascom Development and OMRAN, has made a substantial financial commitment, having invested more than US$750 million in Oman to date. This significant investment notes the deep confidence both entities place in the Sultanate's economic stability and growth potential. The company continues to advance new phases of development at Jebel Sifah, indicating ongoing expansion within its integrated tourism complexes and a continuous cycle of growth. Simultaneously, construction activities are progressing on As Sodah Island, an exclusive destination off the coast of Dhofar, further diversifying Muriya's portfolio. These sustained efforts show the developer's unwavering and sustained commitment to its projects and the tourism sector in the Sultanate, contributing significantly to its long-term prosperity.