SEZAD signs a usufruct agreement to establish business park “Maysan Square Duqm”
January 25, 2020
- RO 43 million, total cost of the project and construction begins next year
- The project confirms the confidence of Omani investors in Duqm and reflects SEZAD’s efforts to attract local investments
The Special Economic Zone Authority at Duqm (SEZAD) and Maysan Properties signed recently a usufruct agreement to establish the business park “Maysan Square Duqm".
The agreement was signed by His Excellency Yahya bin Said Al Jabri, Chairman of the Special Economic Zone Authority at Duqm (SEZAD) and by Sadiq bin Jaffer bin Sulaiman, CEO of Maysan Properties on behalf of the developer.
The business park “Maysan Square Duqm” will be built over an area of 122,000 sqm bringing 20 buildings that include a commercial complex comprising various shops, restaurants, cafes and offices. As well, the projects offers a number of freehold, rental apartments, serviced apartments, business hotel, multi-purpose hall and other leisure and retail facilities.
The complex will cover an area of 100,000sqm, standing on a common base with a public square. The project will be developed in five phases, starting from 2021; with the first phase will witness building 3 pavilions. The total cost of development is RO 43 million and is expected to offer around 500 direct job opportunities.
Establishing this distinct project comes in line with the ongoing efforts of the Special Economic Zone Authority at Duqm (SEZAD) to attract local investments and encourage them to invest in the Zone. The project confirms the confidence of Omani investors in the Special Economic Zone at Duqm and its capabilities to grow.