Discussion Panel Highlights Economic Scopes of Sultan Haitham City

Muscat: The Ministry of Economy today hosted Dr. Khalfan Said Al Shuaili, Minister of Housing and Urban Planning, to participate in a discussion panel titled “Economic Scopes of Sultan Haitham City and Urban Development Projects”.

The open dialogue session formed part of an ‘Economic Knowledge programme’ being conducted by the Ministry of Economy. The Minister of Housing and Urban Planning stressed that Sultan Haitham City sets a model for modern towns in the Sultanate of Oman.

He added that an economic consultant was appointed to study long-term economic indices of the project, including total spending and revenues. In addition, an urban development consultant was appointed to look after real estate projects in the city’s quarters, he added.

Dr. Khalfan pointed out that the move to develop Oman’s urban landscape constitutes an incarnation of Oman Vision 2040. It envisages the expected urban growth, the population rise and economic transition. He explained that, pursuant to this model, steps are being taken to restructure and modify the trend of development projects.

Dr. Khalfan said that the primary goal of Sultan Haitham City (namely urban development projects) is to set up in-country value (ICV) projects and generate economic benefits for small and medium enterprises (SMEs) within the city’s projects.

Dr. Khalfan added that a special awareness and media team was formed to study opportunities for marketing and participation in international forums, with the prime objective of attracting investors and introducing more urban development in Oman.

Dr. Khalfan affirmed the existence of a large turnout of real estate development companies wishing to set up residential units at the Sultan Haitham City project. He explained that the aspirants include Omani, GCC and international firms.