OMRAN Group signs OMR 44.5 million agreements with Grova Developments for the first homes at Madinat Al Irfan in Muscat: a residential neighbourhood and a branded residences project

What was signed

Oman Tourism Development Company (OMRAN Group), the government's tourism development arm, announced on 13 October 2026 that it had signed three strategic development agreements with a combined development and investment value exceeding OMR 122 million (about USD 318 million). Two agreements are with Grova Developments, the real estate development arm of Hassan Allam Holding, and cover two residential projects at Madinat Al Irfan with a combined development value of OMR 44.5 million (about USD 115 million): a residential neighbourhood valued at OMR 29 million (about USD 75 million) and a branded residences project valued at OMR 15.5 million (about USD 40 million). Hassan Allam Construction will undertake construction of both. OMRAN describes the two projects as the launch of the first phase of residential development at Madinat Al Irfan and says they will establish the foundations of the destination's residential offering. OMRAN's Arabic release and the Oman News Agency report, carried by Times of Oman, describe the second project as a luxury residential development under an international hotel brand; the brand is not named.

Madinat Al Irfan

Madinat Al Irfan is one of OMRAN Group's flagship urban developments. The release describes it as spanning 7 million square metres in the heart of Muscat, with residential, business, hospitality, retail, lifestyle and nature-based components, and says 10,000 residential units are planned as part of its wider masterplan. Until now the destination's announced development has been on the business and hospitality side; these two agreements are the first residential phase. The release does not give unit counts, home types, prices, a construction start or a handover date for either project, and it does not say when sales will open.

Who Grova Developments is

Grova Developments is the real estate development arm of Hassan Allam Holding, which the release describes as one of the Middle East's leading engineering, construction, investment and development groups, with a legacy of more than 90 years. The group has been present in Oman for about six years through Hassan Allam Construction, delivering infrastructure projects, and Grova's development portfolio spans premium residential communities, mixed-use destinations and hospitality, with a presence in Egypt, Saudi Arabia and Oman. The same group will therefore invest in, develop and build the two Madinat Al Irfan projects.

What the parties said

Azzan bin Qassim Al Busaidi, Undersecretary for Tourism at the Ministry of Heritage and Tourism and Chairman of OMRAN Group, said that developments such as Madinat Al Irfan "bring together tourism, residential, business and lifestyle components in ways that strengthen the value and appeal of destinations while creating opportunities for investment and broader economic participation". Hassan Allam, Chairman and CEO of Hassan Allam Holding, said the group's ambition in Oman "is to create places that people are proud to call home". Ayad Ali Al Balushi, CEO of OMRAN Group, said the launch "reflects OMRAN Group's continued focus on building meaningful partnerships with investors and developers who can translate investment opportunities into high-quality developments that create long-term value", with residential development "now adding another dimension to the destination".

The Yiti agreement in one paragraph

The third agreement, separate from Madinat Al Irfan, is with Aurelian Development for Yiti Hills and Oases, the fourth phase of the masterplan for Yiti Integrated Tourism Development: an investment of OMR 78 million (about USD 203 million) on about 200,000 square metres, with a luxury five-star resort and 490 residential units, and Aurelian overseeing design, construction, marketing and sales. It is not The Sustainable City - Yiti, the Diamond Developers and OMRAN community that Al Mithaq sells. We will cover Yiti Hills and Oases on its own when the developer publishes its plans.

What Al Mithaq adds

Al Mithaq does not represent OMRAN Group, Grova Developments or the Madinat Al Irfan projects, and nothing here is an offer. We publish the story because our Kuwaiti clients ask about Muscat, and because we sell in Oman: The Sustainable City - Yiti and Sultan Haitham City among others. Our Oman residency page explains who can own where, the renewable two-year residency once 30% of the price is paid in Sultan Haitham City and the Sorouh communities, and the ten-year Golden Residency from OMR 200,000 in an Integrated Tourism Complex. When Madinat Al Irfan homes come to market we will report what the developer actually offers, the ownership form and the payment plan, before anyone pays a reservation fee.

Sources

• OMRAN Group newsroom, 13 October 2026: OMRAN Group signs three strategic development agreements for Madinat Al Irfan and Yiti
• OMRAN Group newsroom (Arabic), 13 October 2026: OMRAN Group signs three strategic development agreements in Madinat Al Irfan and Yiti
• Times of Oman (Oman News Agency), 13 October 2026: Three strategic development agreements signed in Madinat Al Irfan, Yiti
• Oman Observer, 13 October 2026: Omran signs RO 122m Muscat developments deals
• Muscat Daily, 13 October 2026: Omran secures RO122mn investment for Madinat Al Irfan, Yiti
• Al Mithaq, Buy property in Oman for residency