Central Muscat has very little freehold land, and the projects that have it fall into three clear choices: completed, fully furnished luxury at the Mandarin Oriental Residences in Shatti Al Qurum (from about OMR 169,986), boutique new apartments in the Telal Al Qurum ITC (from about OMR 42,987), and resort living in Muscat Bay's new Zen and Luma neighbourhoods. This guide compares them on price per square metre, payment plans and what they really cost in today's money, service charges, residency and yield, with Bausher's established apartment market alongside.
OMR 169,986
Mandarin Oriental 1-bed
Ready, fully furnished
OMR 42,987
Alef Qurum 1-bed
Telal Al Qurum ITC
~OMR 115,500
Luma 2-bed
Muscat Bay, Q1 2029
6.5%
Bausher gross yield
Our latest index
The Residences at Mandarin Oriental, Shatti Al Qurum#
Mandarin Oriental Residences at a glance
- Developer
- Eagle Hills Muscat (Eagle Hills with Izz International)
- Operator
- Mandarin Oriental Hotel Group
- Location
- Beachfront, Shatti Al Qurum
- Status
- Completed, delivered fully furnished
- Scale
- 156 residences in three seven-storey buildings
- Ownership
- Integrated Tourism Complex, freehold in your own name
- Service charge
- About OMR 3.25 per m² as quoted; hotel services billed separately
- Amenities
- Private beach, 235 m promenade, pools, spa, fitness centre, 24-hour concierge, valet
USD at the fixed peg of 1 OMR = 2.6008 USD.
| Unit | Size | Price (OMR) | Price (USD) | OMR per m² | USD per sq ft |
|---|---|---|---|---|---|
| 1-bedroom | 76 m² (818 sq ft) | 169,986 | 442,100 | 2,237 | 540 |
| 2-bedroom | 131 m² (1,410 sq ft) | 292,833 | 761,600 | 2,235 | 540 |
| 3-bedroom | 184 m² (1,981 sq ft) | 508,074 | 1,321,400 | 2,761 | 667 |
| 4-bed penthouse with terrace | up to 260 m² | on request |
Cash or post-delivery instalments. Buyers can pay in full on transfer, or spread the price after delivery for a premium. Treating each instalment plan as monthly payments after transfer, here is the interest rate each premium implies, and its cost in today's money at Oman's 4.50% reference rate (the Central Bank of Oman repo rate since September 2026):
| Option | Premium | Implied annual rate | Cost in today's money vs cash |
|---|---|---|---|
| Cash on transfer | none | 100% | |
| 1-year instalments | +3% | about 5.6% | about 100.6% |
| 2-year instalments | +5% | about 4.8% | about 100.3% |
| 3-year instalments | +13% | about 8.4% | about 105.7% |
The two-year plan is the best value of the three: close to cash in real terms while keeping your capital free for two years. The three-year plan suits buyers who value flexibility above cost.
Telal Al Qurum ITC and Alef Qurum Residence#
Telal Al Qurum at a glance
- Location
- The hills of Al Qurum, Wilayat of Bausher, near the ministries and Shatti Al Qurum
- Status
- Integrated Tourism Complex, licensed July 2024
- Development
- OMR 230 million agreement, March 2026, phased over about 15 years
- Site
- About 165,000 m², of which about 50,000 m² roads, gardens and walkways
- Plan
- Freehold homes, two four-star hotels with 400+ units, retail, indoor entertainment and sports
Alef Qurum Residence (Rozal Development) is a boutique building of 32 apartments over five residential floors with 11 shops on the ground floor, an indoor residents' pool, gym, 24/7 security and one parking space per home. Target completion Q2 2029.
| Unit | Size | Price from (OMR) | Price (USD) | OMR per m² | USD per sq ft |
|---|---|---|---|---|---|
| 1-bedroom | 62.6 m² (674 sq ft) | 42,987 | 111,800 | 687 | 166 |
| 2-bedroom | 88.25 m² (950 sq ft) | 64,980 | 169,000 | 736 | 178 |
| 3-bedroom | 124 m² (1,335 sq ft) | 90,011 | 234,100 | 726 | 175 |
Plan: an OMR 2,000 booking, 20% down, ten quarterly instalments of 6.5%, and 15% on completion. On the two-bedroom: OMR 12,996 down, OMR 4,224 a quarter, OMR 9,747 on completion. Service charge OMR 5 per m² a year (about OMR 441 on the two-bedroom). In today's money the plan is worth about 5.4% off the price at 4.50%.
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Current units, floor plans and payment options for the central and Muscat Bay projects, with the cash-versus-plan maths for your unit. Sent to your WhatsApp.
Muscat Bay: Zen Residences and Luma#
Both sit inside the Muscat Bay ITC at Bandar Jissah, formerly Saraya Bandar Jissah, less than half an hour from central Muscat.
| Zen Residences | Luma | |
|---|---|---|
| Developer | Zen Development and Investment | Muscat Bay |
| Homes | 80, in five low-rise buildings | 240: 156 apartments, 52 townhouses, 32 villas |
| Handover | Q1 2027 | Q1 2029 |
| Service charge | about AED 10 per sq ft (developer data sheet) | OMR 8.27 per m² a year (apartments), OMR 6.27 (villas) |
| Unit | Size | Price (OMR) | Price (USD) | OMR per m² | USD per sq ft |
|---|---|---|---|---|---|
| Zen 2-bedroom | 128 m² (1,378 sq ft) | about 137,996 | 358,900 | 1,078 | 260 |
| Zen 3-bedroom | 170 m² (1,830 sq ft) | about 183,982 | 478,500 | 1,082 | 261 |
| Luma 2-bed apartment | 113 m² (1,216 sq ft) | about 115,541 | 300,500 | 1,022 | 247 |
| Luma townhouse | 242 m² (2,605 sq ft) | about 218,548 | 568,400 | 903 | 218 |
| Luma 3-bed villa with pool | 278 m² (2,992 sq ft) | about 250,000 | 650,200 | 899 | 217 |
Plans and their value in today's money (4.50%, with 5.25% as a stress case):
| Plan | Structure | Present value | Effective saving |
|---|---|---|---|
| Luma | 2.5% booking, 7.5% at contract, 5% at months 6 and 12, 10% at three build stages, 50% at handover | 92.7% (91.5%) | 7.3% to 8.5% |
| Zen | 2.5% reservation, 17.5% at contract, 20% December 2026, then 15% each quarter to December 2027 | 97.8% (97.5%) | 2.2% to 2.5% |
Zen delivers soonest; Luma's back-loaded plan gives the larger saving and keeps half the price until the keys are ready.
Bausher: the established apartment market#
For buyers who want an income property in central Muscat, Bausher has one of the city's broadest apartment markets, close to the ministries, major malls and the Sultan Qaboos Street corridor. On our latest index it prices at about OMR 48.6 / sqft with a gross yield of about 6.5%, and a 100 m² apartment works out at about OMR 52,500.
Fees and running costs#
| Item | Rate | Notes |
|---|---|---|
| VAT | 5% on a developer's first sale; resale exempt | Mandarin Oriental and the new launches are first sales; ask whether the quote includes VAT |
| Registration fee | 3% foreign buyer, 1% Omani buyer | about OMR 5,100 on the Mandarin 1-bed |
| Service charges | OMR 3.25 to about 11 per m² a year across these projects | see each project above |
| Municipality tax on rent | 3% of rent |
Residency by price point#
| Home | Price | Residency it can support |
|---|---|---|
| Alef Qurum apartments, Zen and Luma apartments, Mandarin 1-bed | Below OMR 200,000 | Sponsor-free Owner residence permit (no minimum value reported) |
| Mandarin 2- and 3-bed, Luma townhouses and villas | From about OMR 218,548 | 10-year Golden Residency (ITC property of OMR 200,000 or more) |
Yield scenarios#
Net allows 10% for management and vacancy plus the service charge.
| Unit | Monthly rent | Gross yield | Approx. net yield |
|---|---|---|---|
| Mandarin 1-bed at OMR 169,986 | OMR 700 / 800 / 900 | 4.9% / 5.6% / 6.4% | 4.3% / 4.9% / 5.6% |
| Alef 2-bed at OMR 64,980 | OMR 300 / 340 / 380 | 5.5% / 6.3% / 7.0% | 4.3% / 5.0% / 5.6% |
Check any quote in Deal Check, filter areas in the Screener and compare corridors in the Capital Matrix. For Muscat Bay's wider market, see our Muscat Bay review.
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Arabic investor summary (ملخص تنفيذي للمستثمرين بالعربية)#
يضم وسط مسقط عدداً محدوداً من مشاريع التملك الحر، أبرزها مساكن ماندارين أورينتال في شاطئ القرم (جاهزة ومفروشة بالكامل)، وسكن ألف القرم داخل مجمع تلال القرم السياحي المتكامل، ومشروعا زن ولوما في خليج مسقط.
| المشروع | الوحدة | المساحة | السعر | السعر للمتر المربع |
|---|---|---|---|---|
| ماندارين أورينتال | غرفة نوم واحدة | 76 متر مربع | 169,986 ريال عماني | 2,237 ريال عماني |
| ألف القرم | غرفة نوم واحدة | 62.6 متر مربع | 42,987 ريال عماني | 687 ريال عماني |
| لوما، خليج مسقط | شقة غرفتي نوم | 113 متر مربع | نحو 115,541 ريال عماني | 1,022 ريال عماني |
| زن، خليج مسقط | شقة غرفتي نوم | 128 متر مربع | نحو 137,996 ريال عماني | 1,078 ريال عماني |
خطط الدفع: في ماندارين أورينتال الدفع نقداً أو بالتقسيط بعد التسليم لسنة أو سنتين أو ثلاث بزيادة 3% أو 5% أو 13%. الإقامة: العقار داخل مجمع سياحي متكامل بقيمة 200,000 ريال عماني أو أكثر يؤهل للإقامة الذهبية لمدة 10 سنوات. الرسوم: رسوم تسجيل 3% للمشتري الأجنبي و1% للمواطن العماني.
Bottom line#
Central Muscat offers three distinct routes into freehold: the Mandarin Oriental for buyers who want a finished, serviced seafront home today; Alef Qurum for the lowest-cost new freehold close to the city's centre; and Muscat Bay's Zen and Luma for resort living with strong plans. Pick the route, then get the live sheet.