Oman and Türkiye Sign Urban Development and Real Estate Investment Deal

MUSCAT, OMAN – Oman and Türkiye have signed a memorandum of understanding (MoU) to strengthen cooperation in housing, urban planning and real estate investment, supporting the Sultanate's efforts to attract international expertise and investment for major urban development projects.

The agreement was signed in Ankara by H.E. Dr Khalfan bin Saeed Al Shuaili, Oman’s Minister of Housing and Urban Planning, and Murat Kurum, Türkiye’s Minister of Environment, Urbanisation and Climate Change.

The signing ceremony was attended by an Omani delegation comprising officials from the Ministry of Housing and Urban Planning, Khazaen Economic City, Oman Chamber of Commerce and Industry, and leading Omani real estate developers.

During the meeting, the two ministers discussed expanding bilateral cooperation in housing, urban planning and investment, reaffirming their commitment to partnerships that promote sustainable urban development in both countries.

Dr Al Shuaili highlighted Oman's National Urban Strategy, the Greater Muscat Master Plan and investment opportunities arising from flagship developments, particularly Sultan Haitham City. He also emphasised the importance of institutional cooperation and stronger public-private partnerships.

Kurum expressed Türkiye's interest in expanding collaboration with Oman in urban planning and city development, commending the Sultanate's urban development initiatives, particularly Sultan Haitham City.

The MoU establishes a framework for cooperation across a wide range of sectors, including sustainable urban planning, smart cities, green buildings, energy efficiency, spatial planning, coastal zone management, infrastructure development, real estate finance and land registration.

The agreement also covers research, training and capacity-building initiatives, alongside the adoption of advanced technologies such as artificial intelligence (AI), the Internet of Things (IoT), digital twins and smart building systems.

In addition, the framework encourages partnerships between private sector companies in both countries, supports the participation of developers and construction firms in urban projects, and promotes joint conferences, exhibitions and business forums to facilitate investment and knowledge exchange.

As part of the visit, the Omani delegation met with leading Turkish real estate developers and construction companies to present investment opportunities in Oman and explore cooperation in real estate development, infrastructure, modern construction technologies and smart city solutions.

Dr Al Shuaili also invited Kurum and Turkish developers to participate in the October Urbanisation Conference and Exhibition in Oman, providing an opportunity to explore the Sultanate's urban development projects and investment opportunities.