Oman’s Housing Ministry organizes Investment and Development Forum “Seize the Opportunities of Life”

Muscat: The Ministry of Housing and Urban Planning organized today the Investment and Development Forum, entitled “Seize the Opportunities of Life”, at the Royal Opera House Muscat.

His Excellency Dr. Khalfan bin Saeed Al Shuaili, Minister of Housing and Urban Planning, said that the government offers 4 options to the citizen, represented in: “choose your land”, “plan your land”, “exchange your land”, and “acquire your land”. Sorouh program and Sorouh plans have been established and the Future Cities Program, starting with Sultan Haitham City.

His Excellency added that the opportunities for projects under implementation were presented for nine sites in the Sorouh program, of which 3 are under implementation, 3 are under construction, and 3 are available for investment. 6 sites have been offered in Sorouh’s schemes, of which 5 are for investment.

His Excellency explained that the Future Cities Program is one of the largest projects, with an area of ​​14.8 million square meters, and it has the largest share for the beneficiaries of the land system, as it enables the beneficiaries of lands to exchange their lands for lands in the city, and also for foreigners the right of ownership in return for a usufruct right for 99 years, and also 5% aid programme.

On the other hand, His Excellency reviewed the stages of implementation of the Sultan Haitham City project, which is an embodiment of “Oman’s Vision 2040”, starting from the first phase 2024-2030, where he explained that the city consists of 6 residential neighborhoods, 3 agreements have been signed, and 3 others are still offered as opportunities. Investment, as for the second phase, it will start from 2028-2035 and is under development, as well as the third phase 2033-2040, and the fourth phase 2038-2045, noting that 20 agreements have been signed at a cost of RO 1.2 billion.

His Excellency reviewed a number of projects that the Ministry is working on during the coming period, including the development, re-planning and upgrading of the urban environment in the Greater Muscat Governorate, Greater Nizwa, Greater Salalah, and Greater Sohar, and opportunities will be presented during the next year.

His Excellency the Minister of Housing and Urban Planning stated that the Ministry seeks to activate the priority of communication identity, governance, legislation and digital transformation, in addition to competencies and capacity building to work at an increasing pace, as well as the investment dimension in how to communicate with the business sector to reach common goals in a large way. The Oman Development Bank, in partnership with the Ministry of Housing and Urban Planning, announced its initiative to finance artworks related to construction contracts in Sultan Haitham City, as well as Omani youth projects that the city will later embrace.

Eng. Muhammad bin Abu Bakr Al-Sail Al-Ghassani, Chairman of the Board of Directors, confirmed that the initiative comes in compliance with the royal directives of His Majesty Sultan Haitham bin Tariq Al-Muazzam, may God preserve and preserve him, upon his generous patronage to launch the city of Sultan Haitham, so that the youth of Oman have fingerprints in every part of this land. He pointed out that the bank seeks, through this initiative, to empower Omani youth in various projects related to the strategic project with diversified investment opportunities.