Madayn Says 2024 Investment Applications up 30%

Madayn sees 30% increase in Investment applications request

Muscat: The industrial cities affiliated with the Public Establishment for Industrial Estates (Madayn) witnessed a remarkable growth in their digital indicators in terms of requests and investment volume of existing projects by the end of the first half of 2024.

Eng. Dawood bin Salem Al Haddabi, CEO of Madayn, confirmed that the number of investment applications submitted to the Public Establishment for Industrial Estates increased by 30 percent during the first six months of 2024, reaching 184 applications, compared to 141 applications during the same period in 2023.

He said in a statement to Oman News Agency that the total volume of investments in all industrial cities affiliated with “Madayn” amounted to 7.6 billion Omani riyals, compared to approximately 7.4 billion Omani riyals by the end of 2023, with a growth rate of 2.3 percent and an amount of 177 million Omani riyals.

He added that the volume of added industrial investment amounted to about 151 million Omani riyals, while the volume of added non-industrial investments amounted to about 62 million Omani riyals, noting that Sohar Industrial City achieved the highest increase in the total volume of investments compared to other industrial cities, as the total volume of its investments increased during the same period of this year by 53 million Omani riyals.

Regarding the investment projects index in the industrial cities affiliated with Madayn, he explained that the number of investment contracts until the end of the first half of 2024 amounted to 2,310 contracts, an increase of 0.65 percent compared to the end of 2023, as the investment fields of these contracts are distributed as follows: 70 percent of them are industrial investments, 12.6 percent are commercial investments, 7.3 percent are service investments, 4.8 percent are technical investments, and 5.3 percent are in other fields.

Engineer Dawood Al-Hadabi said that the number of workers in local investments is about 55,000 workers, compared to about 50,000 workers until the end of 2022, an increase of 10 percent, as the percentage of Omanization reached 38 percent, and the workforce is concentrated in the industrial sector at 81 percent compared to other investment fields in industrial cities.

He pointed out that the index of leased areas in industrial cities increased by 0.30 percent, as the total leased areas in localized investments until the end of the first half of 2024 amounted to 33.7 million square meters, compared to 33.6 million square meters with an occupancy rate of up to 35 percent of the total developed and undeveloped leasable areas of existing cities, explaining that the institution issued 297 permits for service providers and 889 activity licenses.