Dar Global has secured financing from the National Bank of Oman (NBO) for its highly anticipated AIDA project in Muscat. This marks a significant step forward in the project’s development, reinforcing strong investor confidence in its potential. Moreover, the partnership reflects a shared commitment to enhancing Oman’s luxury real estate and tourism sectors.
AIDA: A Vision for Luxury and Tourism Growth
AIDA is a joint venture between Dar Global and Omran Group, Oman’s leading tourism development company. Spanning 3.5 million square meters, the project will feature high-end residential properties alongside world-class hospitality and leisure facilities. Furthermore, its prime location on cliffs overlooking the Gulf of Oman enhances its exclusivity. The development includes opulent mansions, limited-edition villas, and premium apartments. In addition, one of the most notable features is the Trump International Oman, a $500 million luxury resort and championship-size golf course. The Marriott Residences, a $100 million project, will also provide sophisticated living spaces that merge comfort with modern design.
Ziad El Chaar, CEO of Dar Global, emphasized the project’s significance in strengthening Oman’s economy. He pointed out that AIDA will attract investment, create jobs, and support the growth of the tourism sector. Additionally, securing financing from NBO highlights confidence in the project’s long-term vision and its role in elevating Oman’s appeal as a premium global destination.
Development Timeline and Economic Impact
The first phase of AIDA is expected to be completed by 2027, with a focus on essential infrastructure, including roads, water and electricity networks, and drainage systems. Furthermore, the Trump International Oman is scheduled to open in December 2028, enhancing the country’s portfolio of high-end tourism offerings.
Ghadeer Iqbal Al Lawati, Assistant General Manager – Head of Project Finance & Syndication at NBO, reaffirmed the bank’s commitment to transformative projects. He explained that AIDA aligns with Oman’s Vision 2040, positioning the country as a premier global destination. Additionally, he expressed confidence that the development will attract both tourists and investors, significantly boosting the nation’s long-term economic prosperity.
With strong financial backing and a clear development strategy, AIDA is set to redefine luxury living and tourism in Oman, reinforcing the country’s status as a world-class destination.
