Sohar International Bank has signed a Memorandum of Understanding with Egypt-based real estate giant Talaat Moustafa Group (TMG) to serve as the main banking and housing finance partner for two major projects worth 1.5 billion Omani rials (approximately $3.9 billion) in the Gulf state.

Sohar said it will provide financial solutions tailored to support all stages of the projects’ execution, from real estate development to housing finance.

Financial details of the MOU weren't disclosed. 

Joud, located in Sultan Haitham City and Yamal, located on the Gulf of Oman will collectively deliver approximately 13,000 residential and hotel units across an area exceeding 4.9 million square metres, according to a May 2025 Zawya Projects report.

(Writing by Majda Muhsen; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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