MUSCAT, JUNE 4
As many as 20 land plots, spread across a total area of around 24,000 sq metres, will be auctioned off for industrial and economic investment at Misfah in the Wilayat of Bausher in Muscat Governorate.
According to an official of the Ministry of Housing and Urban Planning, the lands will be offered to successful bidders under the ‘usufruct’ land use model. Interested eligible bidders can submit their bids electronically via the Tatweer portal of the Ministry.
Speaking to the 'Observer', the official said the public auction has multiple objectives — all of which are aligned with the broad goals of Oman Vision 2040. “In addition to the primary objective of offering government land for economic investment and development, this public and transparent auction process — led by the Ministry of Housing and Urban Planning — also aims to support GDP growth, boost economic output through manufacturing, commercial and other industrial activities, fuel socioeconomic development and support the strategic goals of Oman Vision 2040.”
An underlying objection is to put real estate to productive use by offering available land for suitable commercial and industrial investment, thereby igniting the growth of thriving urban communities underpinned by the requisite infrastructure and services, the official said. A big beneficiary will be property and real estate in the vicinity, which would see values rise and thereby contribute to economic development in those areas.
To participate in the auction, interested bidders must register on the Tatweer platform operated by the Ministry’s Real Estate Development Department in cooperation with other stakeholder government agencies. Bidders can obtain further specifics on the plots on offer.
The winner will be notified of the outcome of the auction via a text message, following which, they must present themselves at the Ministry within 10 working days to complete the procedures and sign the usufruct agreement. The initial agreement is for a period of two years, renewable every five years thereafter for a total period not exceeding 50 years.
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