MUSCAT - Al Ahly Sabbour Developments is set to reshape the skyline of Sultan Haitham City with the launch of the Wadi Zaha Iconic Tower, a RO 90 million mixed-use development poised to become the tallest tower in the city and a new benchmark for luxury urban living in Oman.

Strategically located at the heart of Wadi Zaha, overlooking a major park and valley, the Iconic Tower will feature a combination of residential units, hotel services, and leisure facilities. It will house the first luxury hotel and branded serviced apartments in Sultan Haitham City under the Villa Coconut Hotel & Residences by TLT Hospitality, along with restaurants, cafés, a rooftop pool, spa, and other premium amenities.

In an interview with the Observer, Eng Ahmed Sabbour, Chairman and Managing Director of Al Ahly Sabbour Developments, said, “This tower is not just another real estate development — it redefines luxury and hospitality in Sultan Haitham City. It will stand as a symbol of modern urban living and architectural excellence in the heart of Oman’s first smart city.”

The project is a key component of a larger RO 400 million master plan that also includes the upcoming Wadi Safa and Wadi Tala developments. Construction of the Iconic Tower is scheduled to begin in January 2026, with completion expected within three to three and a half years.

The tower aligns with Oman Vision 2040 by integrating modern urban planning with economic diversification and sustainable development. It is expected to stimulate local economic activity, attract foreign investment, and create jobs in construction, hospitality, and services.

“We are not here just to build and make profits,” Sabbour said. “We want to leave a good memory that we were part of employing as many Omanis as we can.”

The company is already exceeding the 25% Omanisation requirement, making local workforce development a key part of its operational strategy.

A central feature of the project is the partnership with TLT Hospitality, which operates Villa Coconut Hotel in Egypt and Dubai and is expanding to Greece. Sabbour described the collaboration as “a strategic milestone that introduces world-class branded residences to Oman, reinforcing investor confidence in the market.”

The developer is also targeting a diverse international investor base. Beyond Omani and Egyptian buyers, the top three foreign nationalities purchasing units are Indian, British, and Iranian investors, with additional buyers from across Europe and Asia. The branded serviced apartments are expected to offer stable returns and capital appreciation as Sultan Haitham City expands.

Phase 1 of the project has already achieved 80% of sales, worth RO 21 million out of a total RO 28 million. Encouraged by the market response, Al Ahly Sabbour is exploring three new locations in Al Jabal Al Akhdar, Salalah, and Al Khuwair Downtown for future developments.

“The response from both local and international investors has been strong,” Sabbour noted. “Branded residences offer unmatched value by combining living, hospitality, and high investment confidence. This project sets a new benchmark for integrated urban development aligned with Oman Vision.

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