Oman’s Mohammed Al Barwani Group will spend OMR300 million ($780 million) to build a luxury villa project almost 2,400 metres above sea level as part of the Al Jabal Al Akhdar masterplan.
Musstir Heights will span more than 1 million square metres and house more than 750 luxury villas, where temperatures are cooler than Muscat, the state-run Oman News Agency reported.
The project will include a wellness retreat, a retail boulevard, and a dining promenade.
No details were given on when construction will start or be completed.
In March 2024, the ministry of housing and urban planning unveiled the design of its $2.4 billion mixed-use mountain destination at Al Jabal Al Akhdar. It will eventually have 2,527 homes and 2,000 hospitality rooms.
In April, the housing ministry said that the value of property sales in Oman since the Iran war began at the end of February rose by about a third to $550 million, mainly due to increased interest from UAE investors.
Oman plans to attract 11.7 million tourists by 2040 and is looking to attract more than $51 billion in investment to achieve its target.
Further reading:
- Rattled Emirati investors push up Oman property market
- Oman allocates $130m to repair flood-damaged homes
- Oman signs $260m contracts for tourism projects
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