Al Mouj Muscat, a waterfront community development in Oman, has finalised a $160 million USD loan to support the expansion of its marina, retail complex and residential portfolio, according to Arabian Gulf Business Insight (AGBI).
“The loan will finance our expansion plans to expand our properties to 10,000 units and enlarge our marina and shopping complex,” said Saleh Al Siyabi, Vice President of Sales at Al Mouj Muscat, in a statement to AGBI.
Al Mouj Marina accommodates yachts ranging from 8 to 65-metre. Recognised as a 5 Gold Anchor Marina, it features year-round access and modern berthing services. The marina is positioned as Oman’s flagship sailing hub and remains a central element of the wider Al Mouj Muscat project.
Located in central Muscat, the mixed-use development is jointly owned by Dubai-based Majid Al Futtaim with a 50% stake, with state-owned tourism operator Omran holding 40% and Tanmia owning the rest.
Established in 2006, Al Mouj Muscat was the first Integrated Tourism Complex (ITC) in the country. The development includes a golf course, hotels, residential buildings, retail spaces and a marina.
