Investments in Duqm hit above RO610mn in 2017

Duqm - In 2017, the Special Economic Zone Authority in Duqm (SEZAD) succeeded in attracting several investment projects and signed 87 usufruct and development agreements with local and international companies for projects that would take place on 1.9mn square meters. The cost of the projects granted last year hit RO610.2mn with an expected generation of more than 2200 jobs for Omani and foreign nationals.

The last year witnessed a good interest by local and international companies to invest in the Special Economic Zone in Duqm (SEZD). The one-stop shop in SEZAD received 256 investment applications, of which 141 were for investment in the construction of commercial residential buildings, 93 in the industrial sector, 14 in the tourism sector, seven in the logistics sector and one in the residential sector.

The projects granted usufruct in 2017 that concentrated in the industrial sector by 30 agreements followed by the commercial residential projects with 27 agreements, then commercial projects with 16 agreements, followed by tourism with 13 agreements, and one agreement in the logistics sector with an investment of RO50,000.

The tourism projects attracted by SEZAD during 2017 came first in terms of cost with RO301mn while industrial investments came second with RO298.1mn. The estimated investment cost of commercial housing projects was RO7.7mn in the third place followed by investments in the commercial sector by RO3.2mn.