MUSCAT: The Board of Directors of the Public Authority for Special Economic Zones and Free Zones (OPAZ) held its first meeting of 2025, chaired by Shaikh Dr Ali bin Masoud al Sunaidy, to review key investment incentives and regulatory updates.
In a bid to attract new investors, the Board approved rental discounts for projects in Ibri, Sur and Mahas Industrial Cities. Further incentives, including rent reductions and exemptions for the initial years, were granted to projects in Al Mudhaibi, Al Suwaiq, and Madha Industrial Cities, which are still under development.
To boost real estate investment in the Special Economic Zone at Duqm, the Board endorsed amendments to real estate development regulations, streamlining procedures for developers and property owners.
Additionally, the meeting discussed plans to upgrade Al Wadi Al Kabir’s industrial area, managed by Madayn, focusing on infrastructure improvements and regulatory enhancements in coordination with Muscat Municipality.
The Board also reviewed the ongoing restructuring of Oman Investment and Development Holding Company (Mubadrah) and its subsidiaries, aligning with the Oman Investment Authority’s broader strategy.
With a focus on enhancing Oman’s investment landscape, the Board reiterated its commitment to strengthening special economic zones, free zones, and industrial cities, ensuring they remain competitive and attractive to businesses.
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