Oman has formally ratified its railway agreement with the United Arab Emirates, clearing another regulatory milestone for the $2.5 billion Hafeet Rail project as construction advances on the planned cross-border railway. The agreement was approved under Royal Decree No. 75/2026, one of 10 Royal Decrees issued by Sultan Haitham bin Tarik. The bilateral agreement was…
Oman is set to strengthen its position in the global clean energy sector after Chinese company Zhongke Electric launched construction of a major lithium-ion battery anode manufacturing facility in Sohar Freezone. The project, valued at approximately $1 billion, will become one of the company’s largest production bases outside China and one of the largest lithium-ion…
Oman Investment Authority (OIA) has announced a strong financial performance for 2025, reporting a significant increase in profits as the fund’s total assets under management reached approximately OMR23 billion ($60 billion). According to the authority’s latest report, annual profit rose to OMR2.9 billion in 2025, representing an 86% increase compared to OMR1.6 billion recorded the…
Haitham bin Tarik has issued a new Royal Decree establishing an Artificial Intelligence Special Zone in Muscat, marking a major step in Oman’s efforts to strengthen its digital economy and technology sector. According to reports from the Oman News Agency, the new zone will be created under Royal Decree No. (50/2026) and will focus on…
Oman has announced the launch of the $779 million Musstir Heights luxury residential project in Al Jabal Al Akhdar, marking one of the major real estate developments revealed during the Oman Real Estate, Design & Build Exhibition and Conference 2026. The project, developed by Musstir Company, will be built within the mountainous region of Al…
