MUSCAT,FEB 20
A roughly 215,000 sq metre site in upscale Airport Heights in Muscat Governorate has been earmarked for the development of the new Oman Business Gateway project, a mixed-used precinct that will incorporate the headquarters of the Ministry of Commerce, Industry and Investment Promotion (MoCIIP).
Earlier this week, the Ministry of Finance launched a competitive process for the selection of a Master Developer to deliver the Oman Business Gateway project on a Public Private Partnership (PPP) basis.
Oman Business Gateway is envisaged as a “vibrant, commercially-focused hub and a variety of mixed-use assets to create a centre for commercial activity” in the capital city, according to the Ministry of Finance, which has the mandate to procure PPP-based projects under Oman’s PPP Law and PPP Regulations.
“The precinct will support the evolution of an activated community where business and government come together in an inclusive and connected environment. With a diverse range of offerings including hotel, office, residential and retail, the precinct will have a strong focus on business and encouraging enterprise,” the Ministry stated, adding that the cornerstone of the development is the delivery of a new MoCIIP HQ building.
Oman Business Gateway is being developed on strategically located land belonging to MoCIIP, as well as the Ministry of Heritage and Tourism, and located near the Old Oman International Exhibition Centre site at Airport Heights. An immediate neighbour is Oman Tourism College (OTC).
The competitive process launched by the Ministry of Finance, in coordination with MoCIIP, aims to identify a suitably qualified investor (or consortium) with the wherewithal to “design, finance, develop and operate the new precinct through a PPP structure to foster innovation and deliver world-class facilities”. The successful bidder will own and operate all buildings within this master-planned precinct for the term of the project.
Significantly, only around 30,000 sq metres of the Oman Business Gateway project is set aside for the development of MoCIIP’s headquarters, opening up a sizable chunk of the available land for real estate investment and development, according to the Finance Ministry.
Outlining its vision for Oman Business Gateway as a world-class urban hub, the Ministry stated: “With the MoCIIP HQ at its foundation complemented by a mix of retail, commercial and accommodation, this flagship project is poised to significantly enhance the economic landscape of the region. Serving as a community beacon, the sustainable design will seek to incorporate expansive integrated spaces, creating an iconic and immersive hub that will attract a diverse range of established and emerging enterprise. Project outcomes will be meticulously assessed, with emphasis placed on innovation, elegance, and community engagement, ensuring the development achieves a world-class status upon its completion.”
Also envisioned for incorporation into the design of the Oman Business Gateway are, among other components, any additional pre-committed government and public sector tenancies, residential accommodation, short stay apartments, including a hotel, and retail, commercial and office space.
Submissions in response to the Request for Qualifications (RfQ) floated earlier this week are due in by April 1, 2024.
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