MUSCAT: Al Rusayl Industrial City — the first industrial cluster established in the Sultanate of Oman — has been formally listed on the Third Market of the Muscat Stock Exchange (MSX), marking a significant step by state-owned Madayn, the authority overseeing Oman’s industrial cities, to leverage capital market platforms to broaden investor participation and unlock value from strategic infrastructure assets.
In a recent administrative decision, the MSX approved the listing of Al Rusayl Industrial City Co SAOC, with a share capital of RO 500,000 divided into 500,000 shares. The listing follows an earlier decision by the Ministry of Commerce, Industry and Investment Promotion to convert the industrial city’s legal status from a limited liability company into a closed joint-stock company.
Established in 1983, cumulative industrial investments in Al Rusayl Industrial City exceeded RO 900 million by mid-2025. Spanning approximately 11 million square metres, the city is among Oman’s longest-established industrial hubs and has played a central role in supporting the Sultanate of Oman’s non-oil economy for decades, hosting hundreds of projects across sectors including chemicals, building materials and logistics.
According to market experts, the stock market presence of Al Rusayl Industrial City Co SAOC enables both institutional and retail investors to participate financially in the performance and long-term development of the industrial estate, helping align private capital with national economic objectives.
The listing also sends a strong signal that industrial infrastructure can be structured and treated as an investible asset class, rather than solely as a government-managed resource. In doing so, it helps bridge capital markets and real-economy assets, encouraging financial innovation in support of Oman’s broader development priorities.
Alongside the Regular and Parallel markets, the Third Market of the MSX provides a regulated trading platform for equities that do not meet the full listing requirements of higher tiers — often due to size, operating history, or other criteria — while still ensuring regulatory oversight and investor protection. The segment plays an important role in broadening market participation and deepening Oman’s capital markets.
Madayn, formally known as the Public Establishment for Industrial Estates, currently manages more than 10 industrial cities across the Sultanate of Oman, including Al Rusayl, Suhar, Sur, Nizwa, Samayil, Raysut (Salalah), Al Mazunah and Knowledge Oasis Muscat (KOM), with several additional industrial clusters under development nationwide.
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