MUSCAT: More than 50 investment companies have shown interest in participating in the development of Al Khuwair Downtown, Minister of Housing and Urban Planning Dr Khalfan bin Said Al Shuaili told Asharq Bloomberg in London on Thursday.
The companies include investors from Oman, other GCC states, the wider Arab world and international markets, according to the minister.
In a separate London interview during the Live Oman investment showcase, Al Shuaili said he expected the project to be launched “in a major way” in the coming weeks and said more than 50 companies were competing for opportunities.
The ministry has not disclosed what that launch will involve. It has also not said how participation by the companies will be structured, including whether opportunities cover individual development parcels, groups of assets or broader development packages.
That distinction will determine how private capital enters the project.
The ministry’s published investment framework provides for state-led land and infrastructure delivery, followed by the phased release of development parcels across residential, office, hospitality, retail and mixed-use assets.
Its current Live Oman project page lists “total investment” at RO500.5 million, alongside a total area of 1.6 million square metres, more than 7,500 units and more than 18,000 jobs. The published figure does not specify on the page how the RO500.5 million is divided between public infrastructure and private development.
The plan provides for six hotels with about 2,200 rooms, Class-A offices intended for government entities, regional headquarters and multinational companies, and towers reaching up to 180 metres.
The masterplan was produced by Zaha Hadid Architects. It provides for a mixed-use waterfront district combining housing, offices, hotels, retail, healthcare, cultural facilities and public space, together with marinas, beaches and a canal waterfront. Planned mobility infrastructure includes light rail, bus rapid transit, water taxis and cycling networks.
The project has already moved through several preparatory investment and procurement steps.
Tender Board records show that the ministry issued two international tenders in May 2025 for the design and construction of marina infrastructure at Al Khuwair Downtown. One covers the breakwater, while the second covers other marina infrastructure works. The tender records establish that the packages were put to market but do not, on the pages reviewed, establish that contracts were subsequently awarded.
A further consultancy tender floated later in 2025 covered design review and construction supervision for marine infrastructure, including coastal protection, reclamation, the canal and locks and beach protection.
The international developer push accelerated this year. At MIPIM 2026 in Cannes in March, the ministry signed a memorandum of understanding with Türkiye’s Artas Holding covering proposed investment of more than RO150 million in Al Khuwair Downtown. A separate strategic cooperation agreement with OGCC Global was aimed at exploring development opportunities in the project.
Al Shuaili told Asharq Bloomberg that Oman is preparing to launch a number of property projects in October, while some others could be pushed into early next year. The comments form part of a broader government effort to attract both developers and foreign property buyers.
Attention will now turn to Urban October 2026, the Ministry of Housing and Urban Planning’s conference and exhibition at the Oman Convention and Exhibition Centre from October 5 to 8.
The ministry’s official programme lists Al Khuwair Downtown among its strategic initiatives, alongside Sultan Haitham City, A’Thuraya City, Al Jabal Al Aali, Salalah Future City and integrated residential neighbourhoods. The ministry has not said that the forthcoming Al Khuwair launch will take place during the event.
The next announcement is expected to clarify what opportunities will be released first, whether developers have been shortlisted and when private development on the site will begin.
