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Muscat, Oman: Saudi-based construction company Msandh Al-Emdad Limited Co has secured a letter of award valued at RO11.285 million for the construction of 160 villas and initial site preparation works at the Jood residential development in Sultan Haitham City.
According to a regulatory announcement by its parent company, Al Kathiri Holding, to the Saudi Exchange (Tadawul), the award was issued on October 6 by Talaat Moustafa Group Muscat Company for Real Estate Development.
The contract covers Package V1.1, comprising villa construction and preliminary land-grading activities. The announced value excludes VAT and remains provisional, with the final contract amount dependent on value engineering and agreement between the parties.
The construction agreement is expected to be finalised on November 5, with the project scheduled for completion within 24 months of the agreed commencement date.
Msandh Al-Emdad, a wholly owned subsidiary of Al Kathiri Holding, will undertake its first international project through this development. The parent company anticipates that the Oman contract will begin contributing to its consolidated financial performance in the first quarter of 2027.
The Jood development forms part of Sultan Haitham City's expanding residential landscape. Spanning approximately 2.7 million square metres, the project is planned to accommodate 7,746 residential units, comprising villas and apartments.
Talaat Moustafa Group's entry into Oman includes the Jood and Yamal developments, representing a combined planned investment of approximately RO1.7 billion.
The latest construction award marks further progress in implementing Jood's residential development programme, with additional details regarding the final contract value and construction commencement expected following completion of the contractual procedures.
Saudi contractor receives RO11.3m award for Jood villa package in Oman - Oman Observer
