Housing Ministry signs RO 70 million usufruct contracts

The Ministry of Housing and Urban Planning yesterday signed ten usufruct contracts with an investment value exceeding RO 70 million.

The contracts cover commercial, industrial, health and agricultural sectors in the governorates of Muscat, Al Dhahirah and Al Batinah South.

The total area of the projects is 1.3 million square metres.

Most of the contracts were awarded for projects in the Governorate of Muscat.

These include a land usufruct contract for the construction of a specialised hospital on an area of 40,000 square metres in the Wilayat of Al Seeb at an investment cost of RO 65 million.

A second usufruct contract in the same Wilayat provides for the setting up of a cement factory on an area of 3,000 square metres at a cost of RO 1.2 million

In the Wilayat of Ibri in Al Dhahirah Governorate, a usufruct contract was signed for an agricultural project.

In the Governorate of Al Batinah South, a usufruct contract was signed for the establishment of an industrial project at a cost of RO 1.2 million.

The contracts were signed by Eng Hamad bin Ali al Nazwani, Unde-secretary of the Ministry of Housing and Urban Planning for Housing, and representatives of companies and establishments investing in the respective projects.

The Ministry also announced the launch of five new sites for investment via the investment platform “Tatweer” as part of the national initiative for integrated residential areas “Surooh” in the governorates of Al Buraimi, Al Batinah South, Al Dhahirah, Al Sharqiyah South and Al Sharqiyah North.