Oman’s Housing Ministry signs 10 Usufruct contracts worth over OMR 70 Million

Muscat: The Ministry of Housing and Urban Planning today signed 10 usufruct contracts with an investment value exceeding RO 70 million.

The contracts cover commercial, industrial, health and agricultural sectors in the governorates of Muscat, Al Dhahirah and South Al Batinah. The total area of the projects is 1.3 million square metres (sqm).

Most of the contracts were awarded for projects in the Governorate of Muscat. These include a land usufruct contract for the construction of a specialized hospital on an area of 40,000 sqm in the Wilayat of A’Seeb at an investment cost of RO 65 million.

A second usufruct contract in the same Wilayat provides for the setting up of a cement factory on an area of 3,000 sqm at a cost of RO 1.2 million

In the Wilayat of Ibri in Al Dhahirah Governorate, a usufruct contract was signed for an agricultural project.

In the Governorate of South Al Batinah, a usufruct contract was signed for the establishment of an industrial project at a cost of RO 1.2 million.

The contracts were signed by Eng. Hamad Ali Al Nazwani, Undersecretary of the Ministry of Housing and Urban Planning for Housing, and representatives of companies and establishments investing in the respective projects.

The Ministry also announced the launch of five new sites for investment via the investment platform “Tatweer” as part of the national initiative for integrated residential areas “Surooh” in the governorates of Al Buraimi, South Al Batinah, Al Dhahirah, South Al Sharqiyah and North Al Sharqiyah. -ONA

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