MUSCAT: Construction work has begun on Oman’s maiden airport free zone development adjoining Muscat International Airport – a landmark initiative that will add a new dimension to the country’s expanding landscape of investment hubs.
Asyad Group, Oman’s global provider of integrated logistics services, is overseeing the establishment of Muscat Airport Free Zone (MAFZ) under a concession agreement awarded by the Public Authority for Special Economic Zones and Free Zones (OPAZ) last year.
Covering a total area of 1.7 km2, MAFZ will be developed in phases starting with around 370,000 m2 in Phase 1, which is earmarked primarily for public facilities and services. Local Omani contractor Abu Hatim Co LLC has been selected to undertake the Phase 1 infrastructure works, comprising the construction of access roads, installation of streetlights, and land preparation works as well. International engineering firm Parsons is the Design Consultant.
Announcing the formal start of work on the project, Faisal Ali al Balushi, Director – MAFZ at Asyad Group, commented: “I am thrilled to share the exciting milestone of the commencement of construction for Muscat Airport Free Zone, a major step in bolstering Oman’s position as a global logistics hub. This is not just a milestone for Asyad Group, but also for Oman as we continue to drive economic diversification and attract foreign investment.” He added in a post: “With world-class infrastructure and strategic location next to Muscat International Airport, this Free Zone will be instrumental in enhancing our capabilities in integrated logistics, creating opportunities for global businesses to establish operations in Oman. We look forward to welcoming partners and investors who share our vision of transforming Oman into a logistics powerhouse.” MAFZ will leverage its close proximity to Oman’s biggest airport to support the localisation of a variety of economic activities, notably the import and value addition of goods prior to their re-export and distribution, and establishment of logistics facilities to support express shipping and e-commerce. Also promising are investments in light industries focusing on high-value goods for exports to international markets.
Furthermore, through the integration of MAFZ with various air, sea, and land ports, among other economic zones distributed around the country, investors can benefit from comparative advantages offered by such connectivity.
Investors are entitled to a range of incentives and benefits, including 100 per cent foreign ownership, zero import and export duties, no minimum capital requirements, income tax exemption up to 15 years, and a single point of contact for all permits, licenses, and approvals.
In August, Asyad Group floated a tender seeking a private sector investor to design, build, finance, operate and transfer an office complex covering an area of 4,925 square meters in the MAFZ. The office complex will serve as an integrated business center offering investors ready-to-move-in office space, retail areas and a diverse selection of function rooms, boardrooms, meeting rooms, auditoriums and other event spaces to meet various business needs and project requirements.
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