Work begins on new buildings at Knowledge Oasis Muscat

Muscat: The Public Establishment for Industrial Estates – Madayn, reported a 2.16 per cent in the total investment volume across various industrial cities by the end of the first half of 2018, compared to the same period in 2017.

Hilal bin Hamad al Hasani, CEO, Madayn, “The number of workforce in the various industrial cities during the first half of 2018 has touched 56,887 with an Omanisation rate reaching 34 per cent. Moreover, the number of investing projects in their various construction stages during the same period has touched 2,071, of which 1,389 are existing, 368 are under construction and 314 have been allotted with space. The total area of the industrial cities has touched 104,494,694 sqm during the same period with utilisation rate of up to 54 per cent.

During the first half of 2018, Madayn was able to localise more than 130 new projects, Al Hasani informed, adding: “The leased areas for these projects have exceeded 628,000 sqm, and more than 2500 job opportunities were provided. Meanwhile, the preliminary figures for the second half of 2018 indicate a good growth as well.”

He added that in 2019, Samail Industrial City will be officially inaugurated, the development of Phase 7 in Suhar Industrial City will be completed, and the Facility Building in Suhar will also be inaugurated. This year will also witness the commencement of works for the three buildings in KOM and the head office of Madayn. Development works will also begin in Sur, Nizwa and Al Buraimi Industrial Cities.

Nasser bin Mubarak Al Malki, acting Director General of Knowledge Oasis Muscat (KOM) informed that contracts have been signed with an investor for the construction of the sixth and seventh buildings in KOM. “As for the multi-level parking project, an appropriate area has been allotted in KOM for this project. Determination of the land’s coordinates is underway in coordination with the investor due to the significance the investor is placing on the entrances and exits subject. The contract will be signed once agreed on the coordinates,” Al Malki noted.

With regard to KOM’s masterplan and circular roads tender, the masterplan has been completed before the end of last December, and the tender of circular roads has been handed for announcement. By the end of the first half of 2018, the total investment volume of KOM has touched RO 267,230,631. KOM has around 198 projects (existing, under construction and those allotted with space), and around 5,037 of workforce are working in KOM. The total area of KOM is estimated at 778,602 sqm.

Knowledge Oasis Muscat

Nasser bin Mubarak Al Malki, acting Director General of Knowledge Oasis Muscat (KOM) informed that contracts have been signed with an investor for the construction of the sixth and seventh buildings in KOM. “As for the multi-level parking project, an appropriate area has been allotted in KOM for this project. Determination of the land’s coordinates is underway in coordination with the investor due to the significance the investor is placing on the entrances and exits subject. The contract will be signed once agreed on the coordinates,” Al Malki noted.

With regard to KOM’s masterplan and circular roads tender, the masterplan has been completed before the end of last December, and the tender of circular roads has been handed for announcement. By the end of the first half of 2018, the total investment volume of KOM has touched RO 267,230,631. KOM has around 198 projects (existing, under construction and those allotted with space), and around 5,037 of workforce are working in KOM. The total area of KOM is estimated at 778,602 sqm.

The tenders of developing Shinas and Thumrait Industrial Cities will be floated locally and internationally as investment opportunities in the development field. It is also expected that development in Mahas area will commence in addition to other major projects. Al Hasani revealed that there are a number of strategic projects with significant investments in the final stages in Suhar and Sur Industrial Cities. Details will be announced upon completion soon.

 Al Hasani added, The new legislative rules have transformed the policy of approvals into the policy of requirements to accept the investment application. This transformation is facilitating the quick completion of procedural steps in registering the company, signing contracts, and enabling the investor to start contracting with consulting companies and contractors to begin the implementation of the project without the need of waiting for approvals that may continue for more than a year in many cases. At the same time, there is a condition of not practicing the activity unless after obtaining all the necessary and specific licenses. Through following this policy, the investor’s seriousness and financial and practical ability to implement the project are being measured. Additionally, the concerned bodies are also encouraged to speed up their procedures and transactions.”

He added that a four-year action plan has been placed to transform the industrial cities while ensuring that there will not be any negative impacts on the companies operating in Madayn’s industrial cities. There will also be evaluations and reviews of various aspects to enhance the achievements. He also confirmed that Madayn will launch the Investment Window in all the industrial cities during 2019, which aims at completing investors’ transactions in a fast and effective manner within a relatively short period of time.

In addition to the launch of Madayn brandmark and establishment of Mubadrah, the past year also witnessed major achievements by Madayn. An agreement was signed to develop, construct, and operation management of the sixth and seventh buildings in KOM and multi-level parking project. An agreement was also signed to develop the commercial zone in Al Rusayl Industrial City, in addition to the agreement of the Facility Building in Samail Industrial City. In the area of development, Madayn has commenced developing phase two of Al Mazunah Free Zone, expansion phase of Raysut Industrial City, as well as developing the mountain area and expansions in Al Rusayl Industrial City.

 

 

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