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Mars Development & Investment
Mars Development & Investment was established in 2017 as a wholly owned subsidiary of the Oman Investment Authority, the Sultanate's sovereign wealth...
Mars Development & Investment
Mars Development & Investment was established in 2017 as a wholly owned subsidiary of the Oman Investment Authority, the Sultanate's sovereign wealth fund. CEO Said Mohamed Said Al Aufi, who also chairs Sohar International Bank, leads the firm's investment strategy from its headquarters in Muscat. The firm was created as a dedicated vehicle to deploy state capital into assets intended to strengthen and diversify Oman's non-oil economy. MDI's portfolio cuts across traditional and alternative asset classes. The firm holds direct commercial real estate, including the Sama Building in Muscat and an industrial warehouse in Barka. It manages a commodities portfolio and has launched dedicated international equity vehicles — most notably the Jabal ChinaAMC Loong Equity Fund, established in partnership with China Asset Management and CITIC Securities to access Chinese public equities. MDI also sponsors the Jabal India Fund, targeting Indian markets. The geographic footprint connects Omani onshore assets with large-scale capital markets in China and India. Headcount and total assets under management are not publicly disclosed. The Oman Investment Authority itself manages an estimated $50 billion in state assets, and MDI functions as one of its domestic deployment arms. Beyond its direct investments, MDI's structure links to the broader Omani financial ecosystem through Al Aufi's chairmanship of Sohar International Bank, which provides a pipeline for co-investment and local financing partnerships. MDI's architecture differs from a conventional asset manager. It does not solicit third-party capital and operates entirely within the sovereign balance sheet, giving it an indefinite time horizon and a mandate that blends commercial returns with national economic development goals. That dual objective — market-rate investing inside a state-owned structure — shapes its flexibility to hold illiquid Omani real estate alongside liquid cross-border equity funds without redemption pressure.
General information
Firm type
Generalist
Year founded
2017
AUM
Undisclosed
Location
Region
Middle East
Country
Oman
City
Muscat
Corporate office
Muscat, Oman
Principals
Said Mohamed Said Al Aufi
CEO
Sector focus
Frequently asked questions
Who runs investment decisions at Mars Development & Investment?
CEO Said Mohamed Said Al Aufi leads the firm. He is a prominent figure in Omani finance and concurrently serves as Chairman of Sohar International Bank. MDI operates under the ultimate oversight of the Oman Investment Authority, which is the firm's sole shareholder.
Is Mars Development & Investment a sovereign wealth fund?
No. MDI is a standalone asset manager and a wholly owned subsidiary of the Oman Investment Authority, the Sultanate's sovereign wealth fund. It functions as a dedicated investment vehicle rather than the sovereign fund itself, executing specific domestic and international mandates on behalf of the state.
Does MDI manage third-party or external capital?
There is no public evidence that MDI raises or manages capital from outside investors. The firm is capitalized entirely by its parent, the Oman Investment Authority, and operates as a proprietary investment platform for sovereign capital. It does not market funds to institutions or individuals.
What is the Jabal ChinaAMC Loong Equity Fund?
The Jabal ChinaAMC Loong Equity Fund is a China-focused equity vehicle established through a strategic partnership between MDI, China Asset Management (ChinaAMC), and CITIC Securities. The fund represents MDI's access point into Chinese public equity markets, reflecting Oman's broader economic pivot toward Asian capital markets.
How is MDI related to Sohar International Bank?
MDI CEO Said Mohamed Said Al Aufi chairs Sohar International Bank, creating a senior-level connection between the two institutions. While there is no public disclosure of cross-ownership or exclusive deal flow, the overlapping leadership suggests potential coordination on local financing, co-investments, or deal origination within Oman.
What is MDI's mandate in real estate?
MDI holds at least two directly owned properties in Oman: the Sama Building, a commercial asset in Muscat, and the Barka Warehouse, an industrial facility in the coastal city of Barka. These onshore holdings suggest a buy-and-hold strategy for income-producing Omani real estate rather than opportunistic development or rapid turnover.
Which sectors does MDI explicitly avoid?
No public investment policy or exclusion list is available. The firm's known allocations — Omani commercial and industrial property, commodities, and cross-border equity funds — do not indicate exposure to private venture capital, early-stage technology, or consumer-facing startups, but no explicit avoidance has been confirmed.
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