Oman ministry inks $95.8mn in land development deals with private sector
The agreements aim to stimulate the local economy and boost investments; investors will be backed by the ministry
23 land development (usufruct) agreements worth $95.8mn have been signed by several private sector companies and Oman’s Ministry of Housing and Urban Planning. The agreements are said to cover various sectors including business, sports, education, rehabilitation, agriculture, health and fuel filling station.
The land is spread over several governorates including Muscat, South Al Batinah, North Al Batinah, North A’Sharqiyah, A’Dhahirah, A’Dakhiliyah and Al Wusta, said a report by the Oman News Agency.
The agreements were signed with the companies by Dr Mohammed Ali Al Mutawa, Undersecretary of the Ministry of Housing and Urban Planning for Urban Planning. He noted that the agreements aim to stimulate the economy and boost investments. He also affirmed that the ministry is ready to help investors overcome challenges in those fields.
More lands will be offered for bidding in the coming period including several locations for integrated stations in the Wilayats of Barka, Haima, Saham and Liwa, concluded Al Mutawa.
In recent months, the country has embarked upon a number of upgrade and investment drives. In early April, Khazaen Economic City signed an agreement to build $9.06mn worth of industrial projects, following which over $207mn was invested into enhancing power distribution by Mazoon Electricity. On April 27, the country, also announced $3.8bn in investment opportunities.
