Oman Ministry of Housing & Urban Planning signs 10 usufruct contracts

By Shilpa Annie Joseph, Official Reporter
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Oman Housing Ministry signs usufruct contracts
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Oman’s Ministry of Housing and Urban Planning has signed ten usufruct contracts with an investment value exceeding $182 million (RO 70 million).

The contracts cover commercial, industrial, health, and agricultural sectors in the governorates of Muscat, Al Dhahirah, and South Al Batinah. The total area of the projects is 1.3 million square meters (sqm).

Most of the contracts were awarded for projects in the Governorate of Muscat. These include a land usufruct contract for the construction of a specialized hospital on an area of 40,000 sqm in the Wilayat of A’Seeb.

A second usufruct contract in the same Wilayat provides for the setting up of a cement factory on an area of 3,000 sqm.

In the Wilayat of Ibri in Al Dhahirah Governorate, a usufruct contract was signed for an agricultural project. In the Governorate of South Al Batinah, a usufruct contract was signed for the establishment of an industrial project.

The contracts were signed by Eng. Hamad bin Ali al Nazwani, Undersecretary of the Ministry of Housing and Urban Planning for Housing, and representatives of companies and establishments investing in the respective projects.

The Ministry also announced the launch of five new sites for investment via the investment platform “Tatweer” as part of the national initiative for integrated residential areas “Surooh” in the governorates of Al Buraimi, South Al Batinah, Al Dhahirah, South Al Sharqiyah, and North Al Sharqiyah.

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