By Harith Al Brashdi, Chief Executive Officer, Musstir
For years, luxury real estate in the GCC was defined by what could be built: the tallest tower, the largest development, the most exclusive address.
The next chapter may be defined by something that cannot be built at all: the place itself.
Across global luxury real estate, buyers are increasingly paying for more than a home. They are buying access to nature, wellness, privacy, hospitality and a sense of belonging to a destination. This shift is creating a new opportunity for markets that can offer something genuinely distinctive.
Oman is one of them.
From Property to Place
The rise of branded and destination-led residences is evidence of this change. According to Savills’ Branded Residences Report 2025/26, branded residences command a global average premium of 33% over comparable unbranded properties, rising to 39% in resort locations.
The global pipeline is expanding just as rapidly, from 764 schemes at the end of 2024 to around 910 by the end of 2025, with the number expected to reach 1,747 developments by 2032. The Middle East and North Africa is among the fastest-growing markets, with the number of projects increasing 187% over five years.
But the opportunity is bigger than simply attaching a luxury brand to a residence.
At Musstir, we see the future as destination placemaking: creating destinations around the natural character of a location and bringing together residences, hospitality, wellness, leisure and public spaces into one connected experience.
That distinction matters.
The strongest destinations are not successful because of the buildings alone. They succeed because people want to be there
Oman’s Natural Advantage
This is where Oman has a particularly compelling proposition.
Within one country, Oman offers mountain landscapes rising above 2,000 meters, flowing sand deserts, dramatic coastlines, secluded coves, established marina communities and the distinctive subtropical climate of Salalah.
These are not features that need to be manufactured. They are existing assets that can be carefully developed, protected and elevated.
For luxury consumers increasingly seeking privacy, wellness and meaningful experiences, geography itself is becoming part of the value proposition.
The growth of wellness further reinforces this opportunity. Global wellness tourism was valued at approximately US$990 billion in 2025 and is projected to reach US$2.4 trillion by the early-to-mid 2030s, according to Grand View Research and Straits Research. Meanwhile, the global wellness economy reached US$6.8 trillion in 2024.
The implication for real estate is clear: the home is becoming part of a larger lifestyle ecosystem.
Building Around the Destination
Musstir’s portfolio reflects this approach.
Musstir Heights, Al Jabal Al Akhdar sits approximately 2,400 meters above sea level across 1.1 million square meters, with more than 750 luxury villas and a 120-key wellness resort.
Bandar Al Khairan is the only mixed-use destination shaped around the site’s natural coves, allowing the coastline to shape the experience and embrace its natural beauty. This ITC destination combines branded luxury villas with a 121-key Anantara resort.
Jebel Sifah, an expansive ITC beach destination development, brings together 494 beachfront residences and 5-Star resort within an established marina, golf and tourism community.
Each location offers something different. That is precisely the point.
Rather than replicating one model across multiple sites, destination-led development allows the character of each location to shape the experience, creating places that are difficult to replicate elsewhere.
Why the Timing Matters
Oman’s opportunity is not only its geography. It is also its stage of development.
The country’s tourism sector is entering a period of expansion. Oman recorded approximately 3.9 million international arrivals in 2025 and generated tourism revenue of around RO2.28 billion (US$5.93 billion), representing 7.8% year-on-year growth.
Oman Vision 2040 targets 11 million annual international visitors and aims to increase tourism’s contribution to GDP to as much as 10% by 2040, supported by approximately US$31 billion in planned tourism investment.
Recent Integrated Tourism Complex developments further demonstrate the scale of capital entering the sector. In 2023 alone, Oman approved 19 ITC licenses representing US$11.37 billion in investment, and more than 16,500 hotel rooms and 42,500 residential units.
This momentum reflects a broader national vision for Oman’s future. Through initiatives such as Experience Oman, Live Oman and Invest Oman, the Oman Brand is positioning the Sultanate not only as a destination to visit, but also as a place to live, invest and build long-term connections. Destination-led developments support this ambition by creating communities where international buyers may choose a second home, a primary residence or a long-term investment, deepening their engagement with Oman’s economy. This approach aligns closely with Oman Vision 2040, which identifies tourism, investment attraction and sustainable urban development as key pillars of economic diversification, as well as the Ministry of Housing and Urban Planning’s efforts to create integrated communities that enhance quality of life and attract global talent and investment.
For investors and developers, this creates an important window: the opportunity to participate not only in the growth of Oman’s property market, but in the creation of entirely new destinations.
The Real Luxury Is Scarcity
The GCC has no shortage of luxury developments.
What is harder to find is authenticity.
A tower can be replicated. A branded residence can be replicated. A luxury interior can be replicated.
A mountain landscape, a secluded cove or a unique climate cannot. That is Oman’s competitive advantage.
At Musstir, this approach is firmly aligned with MB Group’s long-term investment philosophyof creating sustainable value through opportunities that combine commercial success with national impact. As the Group continues to support Oman’s economic diversification across multiple sectors, we see destination-led development as a natural extension of that aproach: transforming unique locations into thriving communities that attract visitors, residents and investment while preserving the qualities that make them special in the first place.
The opportunity is for Oman to develop a distinctly Omani proposition: one where luxury is defined by space, nature, privacy, wellness and connection to place.
The next generation of GCC luxury real estate will not necessarily ask, how high can you build?
It will ask a more important question:
What kind of place can you create that people cannot find anywhere else?
Oman has the geography to answer that question. Oman does not need to compete on manufactured luxury. Its opportunity is to turn natural scarcity into destination value by embracing the beauty of its natural landscape. The opportunity now is to develop it with the ambition, quality and long-term thinking that the market demands while preserving what makes Oman memorable.
