MUSCAT, Aug 1 – Port of Duqm, which also serves as the landlord of vast tracts of land earmarked for industrial and logistics activities port, says it is opening up a further 100 hectares of new real estate for investment. It follows the successful uptake of almost all of the 65 hectares of land offered by the port authority under the first stage of a multiphase plan to create industrial and logistics clusters in areas that fall under the port’s jurisdiction. Duqm Industrial Land Company (DILC) is a special purpose vehicle set up by the port company to develop and market an estimated 5,000 hectares of land allocated for medium and heavy industries, as well as logistics investment, in the vicinity of the port.
According to Hilal al Balushi, Business Development Manager at Port of Duqm, much of the 65 hectares of land offered for logistics related investments has already been leased by various local and international players. They include companies specialising in the storage of industrial salt, multi-commodity warehousing, storage of heavy equipment and machinery, warehousing of oilfield equipment and spares, depot operations and related activities.
“Almost 95 per cent of this real estate has already been booked, with the result that we are now embarking on Phase 2, which offers a further 100 hectares for investment. Further phases will be announced for investment and development based on demand growth,” Al Balushi told Duqm Economist, the quarterly newsletter of the Special Economic Zone Authority of Duqm (SEZAD).
In addition to its mandate as port authority, Port of Duqm is also the operator of the port’s various terminals, the landlord authority of the industrial and logistics clusters, and the ‘Single Focal Point for Investors’.
Duqm Industrial Land Company (DILC) has been granted a concession to manage 5,000 hectares of land exclusively earmarked for industrial and logistics activities within a radius of a few kilometres from the port. Of this land area, around 2,000 hectares are set aside for medium to heavy industrial and petrochemicals related investments.
The clusters’ proximity to the port, which in turn is strategically located vis-a-vis markets in the wider Gulf, Middle East, Indian sub-continent and East Africa, makes it advantageous for investors to consider Duqm as a hub for their operations, says Al Balushi.
“The logistics zone is located within three kilometres of the commercial terminal, giving logistics companies access to the wider market. Investors can look at Duqm as a base for the warehousing and storage of their commodities for ultimate distribution across the region.
Last week, Duqm Industrial Land Company leased a 50,000 sq metre plot to Egypt based engineering and pipeline contractor, Petroleum Projects & Technical Consultations Co (Petrojet) at the port. Land usufruct agreements have already been signed with distributors of oilfield equipment and tubular goods, pipes, drilling services and logistics service providers.