09 Feb Interview with Naseeb Yahya Nasib, Managing Director of Yahya Nasib Global, Oman
Yahya Nasib Global is one of Oman’s oldest and most important business groups. How has the country’s economic shift toward diversification redefined growth opportunities in areas like real estate?
After 20 years in construction and electronics, we are now focusing exclusively on real estate and tourism. I am very positive about tourism in Oman because beyond oil and gas, it is one of our best growth opportunities. Oman has incredible natural beauty and adventure-tourism potential, but it has lacked the right regulations, open skies and infrastructure. Most current hotels in Oman are government-owned or public-private partnerships, because the market hasn’t been ready.
The Dolphin Village residential resort on the outskirts of Muscat is a flagship asset in Yahya Nasib Global’s real estate portfolio. What makes Dolphin Village a standout destination for luxury living in Oman today?
Muscat Bay is a quiet, stunning location and Dolphin Village is positioned as an intimate, tranquil community — a little village with a spa, tennis courts, many other facilities and all the comforts of home.
My father’s company was one of the first major construction firms in Oman in the 1970s, partnering with the British company Costain to build roads, hospitals and stadiums. We created Dolphin Village in 1974 to house the expats, and it has gradually expanded over 40 years to 340 units on over 1 million square feet of land. We own 1.3 million square feet of adjacent land and plan to extend the village, potentially tripling its capacity from 1,000 to 4,000 residents, and even connecting it to the Mall of Oman. Progress has been slow, with our original master plan having to be revised after the mall opened about five years ago.
In the past, most of the village’s residents were Europeans and Americans; now about 70% are Asians and Africans, including many Chinese and Indians.
Skills development is a key focus of Vision 2040. How has Yahya Nasib Global supported local talent in hospitality?
We developed our own training programs. In the past, government hospitality training existed, but we found it largely ineffective. So we partnered with friends in other sectors to provide practical experience.
Yahya Nasib Global operates seven prestigious Sofitel and Novotel hotels globally, including five-star properties in London and Amsterdam. The company’s new mission to “bring the world to Oman and take Oman to the world” has spearheaded its recent rapid growth. What international expansion plans are you currently exploring?
Our model has focused on prime city locations — like just off Leicester Square in London, in the heart of Paris or near Dam Square in Amsterdam. We buy properties, hold them for five to 12 years, then rotate them for substantial gains. However, COVID showed us the risk: city hotels can suffer in crises. Therefore, I’m now exploring resorts on islands as a backup, while still relying on a model that works 90% of the time.
In your opinion, how can the country capitalize on its potential in tourism and what role do you foresee Yahya Nasib Global playing in that?
One of the great things about Oman is its innate diversity. Unlike some neighbors, we have a truly mixed and welcoming culture. Omanis are hospitable and open to foreigners, and the country blends beautifully with the world. Oman is as cosmopolitan as any Arab nation, and perhaps even more open in its thinking. What we need now is to loosen some laws and embrace openness, while keeping our strengths in hospitality and community.
I have two goals as managing director: diversify our global hotel portfolio and build a hotel in Oman. The country has huge potential. Oman needs critical mass in tourism and government support is essential. If we do build, it would be on the coast.