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Egyptian billionaire Hisham Talaat Moustafa says his company will apply the same building standards it uses at home as it expands into Oman with projects valued at more than $5 billion, marking one of the largest foreign real estate investments in the sultanate in recent years.
Moustafa, the CEO and managing director of Talaat Moustafa Group Holding, made the pledge as the company unveiled two large developments—Jood and Yamal—that will together deliver about 15,000 residential units, hotels and waterfront facilities along Oman’s coast.
Studied Oman expansion targets mixed-use growth
Speaking at an event held under the patronage of Sayyid Theyazin bin Haitham Al Said, Oman’s minister of culture, sports and youth, Moustafa said the decision to invest in Oman followed years of detailed research and planning.
“Every market we enter is studied carefully,” Moustafa said, adding that Oman’s long-term economic plans and regulatory clarity were key factors in the decision. “That gives us the confidence to bring the same approach we have used in Egypt to a new market.”
The projects, which will span nearly 5 million square meters, are designed as mixed-use communities combining housing, hospitality and public spaces. Company executives say the developments are aligned with Oman Vision 2040, the country’s economic diversification plan, and are intended to support tourism and urban growth without sacrificing livability.
Five decades of large-scale developments
Talaat Moustafa Group has spent more than five decades building large-scale residential and commercial projects in Egypt, where it serves more than 1.5 million residents across its developments. The company says its model focuses on integrated services, long-term maintenance and infrastructure planning, rather than standalone housing estates. That approach, Moustafa said, will be central to its work in Oman.
The Cairo-based developer has increasingly looked beyond Egypt as it seeks new growth markets. Earlier this month, the company formally confirmed details of the Oman expansion, describing it as a major step into the Gulf’s real estate sector. Construction timelines and sales phases will be announced once regulatory approvals are finalized, according to the company.
Moustafa, who owns a 43.16 percent stake in Talaat Moustafa Group, has led the firm since its founding in 1974. Over the years, it has grown into one of Egypt’s largest listed developers, with projects ranging from residential cities to hotels and shopping districts. The company commands more than half of the market share among Egypt’s top ten developers by sales.
Oman marks regional expansion test
The Oman projects come as the group continues to invest heavily at home. In November, Talaat Moustafa disclosed that it had begun construction on a new Four Seasons hotel complex near the Grand Egyptian Museum in Giza. The 350,000-square-meter property is expected to become one of West Cairo’s most prominent hospitality sites once completed.
The project extends a partnership with Four Seasons Hotels & Resorts that began more than two decades ago and already includes properties in Cairo and Alexandria. Additional joint developments are underway in Luxor, Madinaty and Egypt’s North Coast.
Looking ahead, Talaat Moustafa Group says it plans to replicate its community model across several Middle Eastern markets, with projects under consideration in Saudi Arabia, Oman and Iraq between 2025 and 2030. For Moustafa, the Oman developments represent both a test and a statement—proof that the company’s long-standing methods can travel beyond Egypt’s borders while meeting local expectations and regulations.
