Oman Twin City ITC

The Twin Cities Development Project in Oman is a strategic initiative to develop Khasab and Shinas into major urban hubs, following the vision of His Majesty Sultan Qaboos to enhance the northern regions of Oman. The project encompasses large-scale development in tourism, residential, commercial, and industrial sectors. Khasab ITC will feature 4,859 residential units, 5,042 hotel keys, extensive retail and commercial spaces, and unique attractions such as cliff-top and floating golf courses, a floating grand mosque, and a mangrove park. Shinas ITC and its industrial zone will include 8,057 residential units, 4,151 hotel keys, retail and commercial areas, and significant industrial infrastructure such as a commercial port with 2.4 MMtpa capacity, oil storage of 3.8 million m³, a 300,000 bpd refinery, a petrochemical complex, shipyard, cruise terminal, power plant, solar park, and a 333-hectare industrial free zone. Connectivity improvements include modern coastal roads, planned railway stations, and expressways. The investment model is based on a multi-fund private equity structure with Platinum and Gold investor tiers, offering an expected IRR of 25% over five years, with capital appreciation and cash flow from Year 3. The Vision Master Plan and Preliminary Master Plan have been completed and approved by the Government of Oman, with further steps including detailed planning, engineering design, and project implementation.