OMRAN and Majid Al Futtaim to develop USD 13 billion Madinat Al Irfan

OMRAN and Majid Al Futtaim to develop USD 13 billion Madinat Al Irfan

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Oman Tourism Development Company (OMRAN), the executive arm of the Government of Oman for the development of the tourism sector and Majid Al Futtaim, announced a strategic partnership to develop the western area of Madinat Al Irfan.

The joint venture will see the development of a vibrant mixed-use community that will serve as the new urban centre for Muscat.   

Madinat Al Irfan is the Sultanate’s largest urban development project and is set to contribute to Oman Vision 2040.The eastern area currently being developed by OMRAN sits alongside Wadi Park just minutes from the newly opened Muscat International Airport. It is a multi-use district adjoining the Oman Convention & Exhibition Centre (OCEC), a world- class venue for international conferences, trade shows and concerts.

The new mixed-use community is located at the western area of Madinat Al Irfan and spans over 4.5 million square meters. The joint venture project investment value is estimated at OMR 5 billion (USD 13 billion) over a period of 20 years and is anticipated to create more than 30,000 direct and indirect jobs in the country.  

Upon completion in three key stages, Madinat Al Irfan will feature more than 11,000 residential units comprising villas, townhouses and apartments, 100,000 m2 of retail space, 700,000 sqm of office space, as well as a number of cultural and lifestyle offerings. The development will serve as an integrated, sustainable and inclusive community, true to the values of Omani society. It will cater to all segments of the local community, providing a model for future urban developments, not just locally, but across the region. It will create a new urban lifestyle not yet seen in the Sultanate.

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