MUSCAT: Leading destination Muscat Bay unveiled its latest residential project, Luma Residences, under the auspices of Dr Khalfan bin Said al Shueili, Minister of Housing and Urban Planning, at a ceremony held on Monday, January 12, 2026. The project, entailing an investment of RO 20 million, represents a significant addition to the development of integrated communities in the Sultanate of Oman, within one of the country's most prominent residential and tourism destinations.

The project comprises approximately 240 freehold residential units within an integrated community that embodies the goals of Oman Vision 2040. The development includes apartments, townhouses and villas, spread across a built-up area of approximately 37,000 square metres, in an urban environment designed to enhance quality of life and harmonise with the surrounding nature, while adhering to the highest standards of sustainability and urban planning.

Dr Khalfan al Shueili emphasised that the project reflects the objectives of Oman Vision 2040 in developing integrated and sustainable urban communities and strengthening partnerships between the public and private sectors, contributing to balanced development and raising the quality of life.

The Luma Residences project is an extension of the development trajectory underway in Muscat Bay, following the remarkable success of previous residential projects within the resort village, most recently the "Zain" project, launched in 2024, which has achieved sales of approximately 90% and will begin handing over its units this year.

The launch ceremony witnessed the signing of an agreement with ahlibank to finance the Luma Residences project, along with another agreement to finance buyers of various nationalities wishing to own residential units, a move that enhances the project's appeal and expands its beneficiary base.

Saif bin Sulaiman al Yaarubi, Acting CEO of Omran Group, noted that the Luma Residences project is part of efforts to develop integrated tourism and residential destinations that contribute to enhancing the Sultanate of Oman's appeal, supporting the national tourism strategy and achieving long-term sustainable economic value.

Hamoud bin Sultan al Hosni, CEO of Muscat Bay, said the launch of Luma Residences represents a new phase in the destination’s development journey, revealing that confirmed initial bookings have exceeded 50% since the early stages, reflecting market confidence and the quality of the planning and execution.

Luma Residences is also in line with the national trend towards sustainability and zero carbon neutrality by 2050, through design solutions that take into account energy efficiency, integrated water and waste management; and the promotion of green spaces, thus establishing a modern concept of sustainable residential communities. The project derives its name from the concept of light and radiance, an architectural philosophy inspired by the convergence of sunlight with the steadfastness of the mountain and the flow of the sea, where light forms a pivotal element in the design and the residential experience.

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