Oman sets up new holding firm to manage industrial estates

The new firm will manage all industrial estates.

MUSCAT: The Public Establishment for Industrial Estates (PEIE) has formed a new holding company to manage the establishment’s assets in different industrial estates across the Sultanate. The move is expected to strengthen the role of the private sector in attracting investment in a flexible and easy manner

PEIE will own 51 per cent stake in the newly-formed Oman Investment and Development Holding Company, while 49 per cent will be offered to the private sector. “The new company will manage PEIE’s 100 million square metre industrial land and other assets in different industrial estates, which will help bring in flexibility and easy implementation of the privatisation strategy,” Hilal bin Hamad Al Hassani, chief executive officer of Public Establishment for Indus- trial Estates, said while addressing the annual press briefing.

Elaborating on an earlier initiative to attract private investment in developing facilities, Al Hassani said the Shumook Investment and Services was established in partnership with pension funds and other investment funds.

“The holding company will promote companies for development and for management and operation of the existing industrial estates, through partnerships with specialised operators in this field. It is expected that the company will commence its operations during the second half of 2018.

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