تنمية
Muscat-based investment company established in 1998 by Royal Decree. It manages public market and endowment funds, makes private equity investments and holds hotel and consumer-sector interests in Oman.
Industry: Investment management | Location: Muscat, Oman | Founded: 1998
About تنمية
Tanmia is the commercial brand of Oman National Investments Development Company SAOC, an investment company based in Muscat, Oman. It manages investment funds.
The company was established in 1998 by Royal Decree No. 81/98 under the name National Investment Funds Company, with the exclusive mandate to set up and manage investment funds. Royal Decree No. 55/2013 later allowed it to expand into sectors including industry, tourism, services and real estate development. Its website lists two shareholders, holding 58 percent and 42 percent, and links the 42 percent holder to the Oman Investment Authority. Khalid Awadh Al Balushi is chief executive and Hamed Al Wahaibi is chairman, according to the website.
In public markets Tanmia runs the Tathmeer Fund, also called the Tanmia GCC Diversified Fund, which invests in shares listed on Gulf Cooperation Council stock markets, and the Al Kawthar Fund, an open-ended Shariah-compliant fund. Both announced 6 percent cash distributions for 2024. It launched the Ishraq Endowment Investment Fund with OMR 10 million in capital, in partnership with the Ministry of Awqaf and Bank Nizwa, and a USD 126 million liquidity fund intended to improve trading in shares listed on the Muscat Stock Exchange.
Tanmia also invests in hospitality and consumer businesses. It opened the four-star Intercity Hotel Bowsher Muscat and signed a management agreement with Deutsche Hospitality for a fourth Intercity Hotel in Oman, near the Mall of Oman. It backed a supply chain partnership between Al Meera Oman and Shell Oman Marketing that is to bring 57 co-branded stores across Oman.
The Oman Investment Authority launched Future Fund Oman on 17 January 2024, with OMR 2 billion to be deployed over five years. The Ministry of Finance named Tanmia among the managers of its SME and startup investments, alongside ITHCA Group, Omantel and Cyfr Capital. Tanmia's website says it and Future Fund Oman have set up a private equity fund for small and medium enterprises. A TechScoop article of August 2026 on Cyfr Capital lists Tanmia among the government-backed vehicles channelling capital into Omani companies.
Leadership
- Khalid Awadh Al Balushi, Chief Executive Officer
- Hamed Al Wahaibi, Chairman
- Shahid Al Balushi, Deputy Chairman
- Saud Al Ghafri, Head of Finance
- Nasra Al Battashi, Head of Corporate Support
- Mohamed Al Lawati, Head of Investments, Private Markets
- Talal Al Qadhi, Head of Investments, Public Markets