Introducing Yamal and Jood, Talaat Moustafa Group’s (TMG) newest overseas development, which it inaugurated earlier this week, alongside with launching sales, the EGX heavyweight said in a disclosure (pdf) to the bourse. The two developments in Oman span a collective 4.9 mn sqm west of Muscat and will offer around 15k residential and hotel units, which the developer thinks will bring in USD 4.7 bn in sales over the lifetime of the projects.

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The largest of the two projects, Jood, will span 2.7 mn sqm within Sultan Haitham City — a planned smart city that will sit just outside of the capital Muscat. TMG boasts that the project will feature a range of residential units, large green areas, commercial and service facilities, recreational zones, and medical and educational amenities, in addition to a social sports club.

Yamal is a coastal tourism and residential project covering 2.2 mn sqm with 1.8 km of beachfront. The development is positioned as an upscale tourism and residential community featuring luxury homes, international hotels, entertainment zones, a marina, marine sports facilities, and integrated lifestyle services.

We first heard of the project back in May, after the developer inked an agreement with the Omani Housing Ministry to develop the then-unnamed two mixed-use developments in the Gulf nation. At the time it was said that the projects will see investments of OMR 1.5 bn.

Oman is just the latest country in the region that TMG has launched large-scale projects in, with the once Egypt-focused company now working towards building a USD 10 bn project in Iraq and its USD 17.3 bn Benan City project in Saudi Arabia, which is already under construction.

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