Nizwa Industrial City nets $1.2bn in total investments for H1
COMMERCIAL NEWS
Nizwa Industrial City, affiliated to Oman's Public Establishment for Industrial Estates (Madayn), has successfully localised four new projects worth over RO5.5 million on an area of 67,000 sqm during the first half of 2024.
With this move, the total investment volume in Nizwa Industrial City has surged to RO474 million ($1.2 billion).
According to Madayn, the total number of projects at various stages of development rose to 173, with a workforce of 5,707 employees and an Omanisation rate of 45%.
These projects include 154 operating projects, 8 projects allocated with space, and 13 projects under construction. Of the 3.1 million sqm area of developed land, 76% is currently occupied, while the total area of the industrial city exceeds 7.2 million sqm.
Salah bin Nasser Al Alawi, the Acting Director General of Nizwa Industrial City, pointed out that during the first half of 2024, Madayn had completed several key projects in Nizwa Industrial City, including the expansion of Phases 3 and 4 on one million sqm area.
"These expansions involve developing basic services, adding a new entrance to the city, and implementing fiber optic network in cooperation with Oman Broadband Company. Additionally, Madayn is currently preparing the master plan for Phase 5, which covers 4.1 million sqm area," he noted.
"The project, which comprises preparing consultancy studies, is expected to be completed in the second half of 2024. Land will be available for investment once the project is completed," he added.
He also pointed out that Madayn, in collaboration with the SMEs Development Authority, is working on the development of Madayn Entrepreneurial Complex on 11,000 sqm area.
This new complex will feature 10 industrial workshops tailored for the SMEs, and the construction is set to be completed in 12 months.-TradeArabia News Service
