Shumookh Investment spinoff to develop Unesco heritage sites in Oman

Shumookh Investment and Services Co, the investment arm of the Public Establishment for Industrial Estates (Madayn) — which administers Oman’s expanding network of industrial cities — has joined hands with specialist international firms in supporting the development of heritage sites in the Sultanate.
According to Madayn’s CEO, Hilal bin Hamad al Hasani, Shumookh’s investments span a number of sectors that extend beyond Madayn’s mandate centring on the development and management of the country’s industrial parks, the free zone at Al Mazyounah, and the Technology Park known as Knowledge Oasis Muscat (KOM).
Among its latest subsidiaries is Shumookh Heritage Tourism Development Company (Zamani), which has been set up in collaboration with a group of international partners specialising in the “development, maintenance of operation of World Heritage Sites listed by Unesco”.
Natural, archaeological and historical attractions designated as World Heritage Sites in the Sultanate comprise Bahla Fort (1987), archaeological sites of Bat, Al Khutm and Al Ayn (1988), Land of Frankincense (2000), Aflaj irrigation systems (2006), and the Ancient City of Qalhat (2018).
In an interview published in the latest edition of Al Markazi, a periodical of the Central Bank of Oman (CBO), Al Hasani said Madayn’s investment arm is also finalising a number of projects related to the development of archaeological sites in Oman and Zanzibar via Public Private Partnership (PPP) arrangements.
Aside from the tourism and heritage sector, Shumookh is also focused on opportunities in logistics. In partnership with Nafith Logistics Services Company, Shumookh is working on a plan develop and operate a Traffic Management System for the industrial cities of Madayn.
The new system will help oversee the smooth conduct, management and monitoring of all cargo and passenger vehicles entering and exiting the industrial cities with the use of mart gates’, thereby contributing to transport efficiency and time-savings, he said.
Additionally, Shumookh Investment is eager to invest in small and medium enterprises (SMEs) that are aligned with the company’s investment and growth strategy. “This type of investment will enable SMEs to grow, branch out and be profitable during an investment period of 4-6 years,” he stated.