Oman Signs Tourism Deals Worth 550 Million Rials, Most Notably "Madana" Complex

Oman signed investment and development agreements exceeding 550 million Omani rials, equivalent to $1.43 billion, during the "Urban October 2026" events in Muscat, according to the Oman News Agency.

Headlining the package was the "Madana" Integrated Tourism Complex project in Dhofar Governorate, signed by the Ministry of Heritage and Tourism with Dhofar Tourism Company, valued at over 400 million rials—representing more than two-thirds of the total value of announced agreements.

The agreements, announced at the Investment Forum at the Oman Convention and Exhibition Centre, covered tourism, real estate, education, food security, housing, and small and medium-sized enterprises (SMEs). In addition, 197 land usufruct agreements were signed, including 85 in cooperation with the Ministry of Agriculture and Fisheries over an area of about 26,000 acres, with investments exceeding 53 million rials.

The package included 30 agreements with the Authority for Small and Medium Enterprises Development over an area of approximately 15,000 square meters, and 82 agreements via the "Tatweer" platform, including the "Al Amerat Hills" project in Muscat worth 78 million rials. It also encompassed agreements to support housing and construct schools, including an educational agreement worth over 10 million rials.

What do these terms mean?

Integrated Tourism Complex: A project combining hotels, residences, services, and entertainment in a single location, managed as an integrated ecosystem to attract tourists and residents.

Usufruct Right: A right granting its holder the use of land or real estate owned by another party for a specified period in exchange for agreed-upon obligations, without transferring ownership.

Small and Medium Enterprises (SMEs): Companies with limited size, workforce, and revenue that serve as the backbone of job creation in Arab economies.