Housing ministry signs contracts worth RO 12.5 million

MUSCAT: The Ministry of Housing and Urban Planning in Oman has taken a significant stride towards accelerating investment and development in the agricultural and industrial sectors with the recent signing of 62 usufruct contracts. These contracts, valued at over RO 12.5 million, mark a strategic partnership between the Ministry of Housing and Urban Planning and key stakeholders such as the Ministry of Agriculture, Fisheries and Water Resources, and the Small and Medium Enterprises Development Authority.

The essence of these agreements lies in their commitment to fostering growth and innovation within the agricultural domain. Noteworthy among the signed contracts are 7 agreements dedicated to agricultural projects born out of the outputs of food security labs. With an investment value exceeding RO 1.5 million, these projects span over 320 acres and are strategically located in the governorates of Al Dakhiliyah, Dhofar, and South Al Batinah. Their primary aim is to bolster food security and drive the expansion of the agricultural sector within the region.

Complementing these endeavors are 5 additional usufruct contracts for agricultural projects supported through the development platform. These projects, with a total investment value of over RO 2.6 million, cover more than 700 acres in the governorates of Al Buraimi, Dhofar, and Al Dhahirah, showcasing a holistic approach to agricultural development and sustainability.

The contracts also include 5 usufruct contracts for agricultural projects supported through the development platform.

In the realm of construction, the ministry has inked agreements for the establishment of key infrastructure, including the headquarters for the Omani Agricultural Association in several governorates. These initiatives, spread over a total area exceeding 168,000 square meters, signify a commitment to supporting agricultural initiatives at a larger scale and facilitating collaboration within the sector.

Moreover, the focus on small and medium enterprises (SMEs) is evident in the signing of 12 contracts in the governorates of South Al Batinah and Al Dakhiliyah, with an investment value exceeding RO 998,000. These contracts, emphasizing the industrial and commercial sectors, are poised to stimulate economic growth and create new avenues for entrepreneurial ventures in the region.

Diversification and innovation take center stage with the signing of 6 contracts for diverse developmental investment projects across the governorates. With an investment value surpassing RO 1.7 million and covering an area exceeding 533,000 square meters, these projects are set to catalyze growth and drive progress in the agricultural and industrial sectors.

Ahmed bin Saud Al Kimyani, Director General of Lands at the Ministry of Housing and Urban Planning, expressed confidence in the potential of these agreements to optimize returns on government lands and foster financial sustainability. He highlighted the ministry's commitment to providing an enabling environment for investors, enhancing the development programs of the governorates, and creating employment opportunities across various sectors for the citizens.

The contracts were signed by Eng Hamad bin Ali al Nazwani, Under-Secretary for Housing of the Ministry of Housing and Urban Planning, with the presence of Eng Yaqoob bin Khalfan al Busaidi, Under-Secretary for Fisheries of the Ministry of Agriculture, Fisheries, and Water Resources.