Asyad Group Revenues Surge to RO713 Million

Asyad Expands Global Reach as Revenues Hit RO713 Million in 2026

Muscat:  Asyad Group marked its tenth anniversary under the slogan “A Decade of Trust Leading Global Connectivity”, highlighting a decade of growth that has seen its revenues increase to approximately RO713 million in 2026, compared to RO123.4 million at its establishment in 2016.

Dr. Musallam Mahad Qatan, Chairman of the Board of Directors of Asyad Group, said that the achievements realized over the past decade reflect the success of the Group’s vision of building an integrated logistics ecosystem that enhances the Sultanate of Oman’s competitiveness and leverages its strategic location as a gateway connecting global trade routes.

In a statement to Oman News Agency (ONA), Dr. Qatan noted that the Group’s revenues have grown nearly sixfold over the past ten years, reflecting the strength of its financial position and the effectiveness of its business model.

He added that Asyad’s operations have expanded from a primarily local scope to a global network spanning 76 cities in 24 countries. During the same period, the Group’s maritime fleet increased from 51 vessels to more than 100 vessels, while its portfolio expanded to include the management and operation of six ports and terminals.

Dr. Qatan pointed out that the number of projects handled by Duqm Dry Dock rose from 62 projects in 2016 to 258 projects in 2026. He also highlighted the rapid growth in the express delivery sector, with average daily shipments increasing from 1,035 shipments in 2020 to 9,667 shipments per day in 2026.

He described the initial public offering of Asyad Shipping Company on the Muscat Stock Exchange as a significant milestone that strengthened governance, transparency and corporate best practices, supporting the Group’s future growth and expansion plans.

The Group also pursued a series of strategic acquisitions and partnerships that enhanced integration across its operations and expanded its international presence.

Dr. Qatan said that Asyad has developed a globally connected logistics network serving more than 90 destinations worldwide and linking over 200 commercial ports through an integrated system of logistics assets and services.

He added that the Group has strengthened supply chain efficiency through the establishment of 12 cargo consolidation centers in China and India, enabling shipments from multiple suppliers to be consolidated at a single point before being transported to Oman and other regional markets.

Regarding infrastructure projects, Dr. Qatan said that work on the Oman-UAE railway link continues to progress, with project completion reaching approximately 40 percent, surpassing planned targets. The railway is expected to enhance cargo movement and improve connectivity between ports, economic zones and regional markets through a faster and more sustainable transport network.

He emphasized that investing in Omani talent has remained a core pillar of Asyad’s strategy since its inception, noting that the Group’s expansion and international presence are driven by a national workforce that has demonstrated its ability to manage operations according to international standards.

Dr. Qatan further noted that Asyad has strengthened partnerships with the private sector and supported small and medium enterprises through initiatives such as the Asyad Accelerator and the Supplier Development Programme, which aim to build capabilities, enhance competitiveness and create broader opportunities for Omani businesses in regional and international markets.

These efforts contributed to a significant increase in local content spending, which rose from RO40 million in 2018 to nearly RO85 million in 2026, supporting Omani enterprises, increasing value-added contributions to the national economy and strengthening the logistics sector’s role in sustainable economic development.