Master planning of area completed, with commercial, residential and hospitality zones also included
Iskan Oman Investment Company has joined hands with the Special Economic Zone Authority at Duqm (SEZAD) to develop an integrated academic city that will be built over an area of one million square metres and will feature higher education colleges, it has been announced.
The master planning of the area, which will also include commercial, residential and hospitality zones, was completed by Iskan Investment and approved by SEZAD, a statement said. It added that as part of the first phase of the development, Iskan has entered into a sub-usufruct agreement with Middle East Education Venture (MEEV) to develop a portion of land for setting up a higher education college in SEZAD area, a statement said.
The new college will be the core of the university city project that Iskan Oman is planning to establish in a phased manner in the Special Economic Zone at Duqm. It will launch its first programme in the academic year 2021-2022.
The higher education college is the second investment for Iskan Investment at SEZD having previously developed a healthcare facility that has been operational since 2017.
Iskan Oman Investment Company has interests in key sectors such as education, real estate and infrastructure, as well as a diversified base of shareholders from Oman and Kuwait.
Sheikh Ahmed bin Sultan Al Yaqoubi, vice chairman of Iskan Investment Board of Directors, dubbed it as one of the company’s priorities, and said it was a perfect example for Iskan’s ‘responsible investment.’
Iskan Investment was formed in 2008 with pension funds and corporations from Oman and Kuwait shareholders. Since its inauguration, Iskan Investment invested in establishing and developing a number of schools, real estate and healthcare facilities.
Dr Abdullah Al Sabahi, chairman of MEEV, said that he envisages working closely with the Ministry of higher Education, the Special Economic Zone Authority at Duqm (SEZAD), and Iskan Investment to implement the proposed college in line with Oman’s 2040 Vision strategy.
“We are keen on establishing centres for competence, a centre for marine science and a centre for logistics and renewable energy,” he stated.
“The purpose of these centres is to promote research commercialisation, build capacity and bring solutions to the social and industrial requirements,” he concluded.