Duqm investments hit above RO 610m in 2017

The Special Economic Zone Authority in Duqm (SEZAD) succeeded last year in attracting several investment projects and signed 87 usufruct and development agreements with local and international companies for projects that would take place on 1.9 million square meters.

The cost of the projects granted last year hit RO 610.2 million 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, 7 in the logistics sector and 1 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 1 agreement in the logistics sector (warehouses and stores) with an investment of RO 50,000.

The tourism projects attracted by SEZAD during 2017 came first in terms of cost with RO 301 million while industrial investments came second with RO 298.1 million. The estimated investment cost of commercial housing projects was RO 7.7 million in the third place followed by investments in the commercial sector by RO 3.2 million.

According to statistical data obtained by Duqm Economist, little India Company project for the establishment of an integrated tourist complex came in the forefront in terms of investment value with RO 288 million followed by the Central Cement project with RO 265 million. The project of Hormuz Al Anwar for the establishment of a cement factory came third with RO 11 million while a 4-star hotel that the Royal Group for the Middle East and Asia is planning came fourth with RO 6.2 million followed by the project of Darfish Investment Company for fisheries factory in the fifth place with RO 6 million.

The statistical data showed that 70 projects had estimated investments of less than RO one million, including 16 projects below RO 100,000. This reflects the increasing demand by SMEs to invest in Duqm and benefit from the economic growth witnessed in SEZD.

The pipe-manufacturing project of Al Dar International Company is the lowest project in terms of cost with RO 15,000. The list of investments that signed agreements with SEZAD in 2017 included a variety of projects.

The industrial sector shall have factories for freezing and canning fish products, production of fish powder and oil, design of steel structures, gas filling, asphalt production, production of dairy and juice, caravans industry, road lighting production, pipe manufacturing and other projects.

In the tourism sector, a number of hotels, leisure and tourism facilities will be established. In the commercial and residential sectors, many buildings and offices will be constructed, as well as a fuel station and a training institute.