Muscat, 3 March 2015: Leading international real estate consultancy, Cluttons has been appointed as the lead marketing and leasing agent for a new, large scale warehouse development in Rumais, with units expected to be ready for rent at the start of May 2015.
The First Logistic Services Company's masterplanned development is in a prominent and easily accessible position on the Muscat-Sohar highway in Rumais, approximately 1.5 kilometres from the Naseem Gardens junction and 30 kilometres to the West of Muscat International Airport.
The location allows easy access to and from Muscat Expressway, and the under construction Batinah Expressway and proposed Barka railway goods yard. It is ideally positioned for occupants looking to service the Muscat and interior markets, particularly following the recent movement of sea freight from Port Sultan Qaboos to Port of Sohar.
The first phase is under construction on the eastern part of the 81,000 sqm development site. It provides 36 warehouse units in three different types with floor areas of 500 sqm to 1,000 sqm. A notable feature is that the 12 units along the front of the development have been designed as retail warehouses, which will allow occupiers to take advantage of the prominent highway frontage.
Matthew Wright, head of industrial for Cluttons Oman, said, "We are delighted to continue our association with this well considered development, with which we have been involved from inception. The new warehouses offer a prime opportunity for tenants to acquire good quality warehousing, ideally positioned to service the Muscat market. Our appointment reflects our successful track record and expertise in the warehousing sector across the region, allied to our ability to offer market-leading services. As the development nears completion, we are witnessing increased market interest."
The developer, First Logistic Services Company, is a joint venture between the Golden Group of Companies and First Investment Company. The Golden Group of Companies is one of the Sultanate's leading real estate developers while First Investment Company is a major investment firm from Kuwait, with over RO500 million of assets under management.
Ayman Mohammed of First Logistic Services Company announced, "We are delighted to be able to combine the expertise and experience of the Golden Group of Companies and First Investment Company, to deliver much needed warehouse units for the rental market in this prime location. We are currently assessing the development of Phase 2, which can also provide build-to-suit opportunities for clients looking for purpose built premises, designed to their operational requirements."
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About Cluttons
Cluttons is a global real estate services company, with a presence in over 50 countries. We provide a wide range of commercial and residential property and facilities management, valuation, agency, telecoms and consultancy services.
Our clients range from international corporates and institutional investors, to private individuals and families. Founded in 1765, we now employ 700 staff worldwide and have a fast-growing international platform, including a network of offices in the UK, Europe, Middle East, Asia Pacific, India and Africa.
We are the trusted market leader in the Middle East where we have grown our presence and established a strong track record over the last 40 years.
For further information, please see: www.cluttons.com
© Press Release 2015