Kamcorp signs US$1.04B deal to develop Al Alalan Hills in Oman’s Jabal Al Akhdar

OMAN – Kamcorp, a Dubai-based real estate and hospitality investor, has signed an agreement with Oman’s Ministry of Housing and Urban Planning to develop the Al Alalan Hills project, valued at 400 million Omani rials (US$1.04 billion).

This landmark deal was announced during the Urban October Conference and marks a major step in the transformation of Jabal Al Akhdar into a premier mountain destination.

The project is part of the larger US$3 billion Al Jabal Al Aali development, which aims to diversify Oman’s tourism and real estate sectors.

Al Alalan Hills will span 2.26 million square metres and feature 2,100 residential units, two five-star hotels, and an 18-hole golf course designed to international standards.

Additional amenities include an event and festival arena, commercial facilities, and a curated selection of international restaurants.

The development will blend luxury living with sustainable design, leveraging the region’s cool climate and scenic mountain landscapes to attract residents and tourists alike.

Construction and delivery timelines have not been disclosed. However, Kamcorp has committed to supporting community development, contributing RO 2 million (US$5.2 million) toward local initiatives in Al Jabal Al Aali.

The project aligns with Oman’s “We Race With Time” national initiative, accelerating urban development and improving quality of life. It also supports Vision 2040 goals of economic diversification, private sector investment, and sustainable tourism.

On the same day, Musstir, a Muscat-based developer, signed a separate agreement to develop the $520 million Wellness Village within the same region.

Spanning 600,000 square metres, it will include 500 residential units, a five-star wellness hotel, and health-focused amenities.

Oman is aggressively growing its hospitality sector, with plans to add 9,600 new hotel rooms by 2030 and integrate more branded residences, luxury villas, and digital platforms for short-term rentals.

Strategic investments from both the public and private sectors are modernizing the tourism infrastructure and expanding property investment opportunities for foreign buyers seeking long-term value and stable returns.

The country’s legal framework allows foreign ownership in Integrated Tourism Complexes, further boosting investor interest.

Kamcorp’s entry into the Omani market strengthens UAE-Oman economic ties and highlights the Gulf’s shift toward integrated, lifestyle-driven developments.

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