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New projects in industrial cities up 3.4%

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Muscat: The Public Establishment for Industrial Estates (Madayn) received 325 requests for investment, 252 of which were signed for various industrial, service and commercial activities in 2021.

The number of new projects in the industrial sector is 106. The total number of projects in the cities affiliated with Madayn registered a growth of 3.4 per cent, bringing the total number of projects to 2,255.

The number of national cadres in these projects reached 21,124, with an Omanisation rate of 38 per cent in 2021 compared to 37 per cent in 2020

There has been an increase in the volume of investments by RO 108.39 million, with a growth rate of up to 1.6 per cent compared to 2020, where the Suhar Industrial City managed to attract more than RO 37 million in 2021.

The total investments in the industrial cities of Sur and Samayil exceed RO 18 million.

On the other hand, Madayn achieved growth after several new cities came under its umbrella. Investments Rusayl, Suhar, Raysut, Sur, Nizwa, Al Buraimi, Samayil, Ibri, and Mahas, in addition to the Free Zone in Al Mazyona and the Knowledge Oasis Muscat, exceeded 132 sq m, and thus the total rentable areas in these cities reached of 89.9 million square metres in 2021.

The occupancy rate in the Rusayl Industrial City reached 96 per cent, while it is 99 per cent in the Raysut Industrial City.

In 2021, the industrial cities issued 1,035 licenses, 383 permits, and 104 engineering plans.

Several incentives to enhance investment opportunities in the industrial cities in Buraimi, Ibri, Al Mudhaibi, Thamrait included an exemption from the rental value for a period of two years for all new projects, followed by a reduction in the rental value for a period of three years at a rate of 50 per cent for contracts during the period from 2021-2024, as well as reducing all other fees listed in the investment regulation by 50 per cent for all new projects during the period 2021-2024, in addition to reducing licensing fees for information technology at a rate of 50 per cent for a period of two years during the period from January 1, 2021 - until December 31, 2022, for existing and new projects in the Knowledge Oasis Muscat.

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