Agreement signed to expand automotive cluster in Sohar

Business Wednesday 22/June/2022 15:06 PM
By: Times News Service
Agreement signed to expand automotive cluster in Sohar

Muscat: Sohar Port and Freezone has signed a land lease agreement with Alfardan Holding for 3.5 hectares within the Sohar Freezone automotive cluster.

The area will primarily serve as a stockyard for both Alfardan Motors and Premium Motors, the authorized dealers of Audi, Volkswagen, Maserati and Ferrari in Oman and part of the Alfardan Group of companies, the official importer for Rolls-Royce, Land Rover, MINI, Aston Martin, BMW, Ferrari, Maserati, Fiat, Abarth and Alfa Romeo in Qatar.

Premium Motors Logistics will also begin development on a pre-delivery inspection (PDI) unit on-site at a later stage, ensuring all vehicles delivered to dealerships and customers meet the highest standards.

Omar Alfardan, President and CEO of Alfardan Group said, “We are proud to expand our investment in the Sultanate of Oman aiming to contribute to the growth of the economy and create further opportunities for the local private sector. We are honoured to join the Sohar Freezone as a major premium and luxury vehicle dealerships network in the region, bringing more of our expertise and creating opportunities within the economy. The 3.5-hectare space will allow Premium Motors and Alfardan Motors to continuously supply customers with high-end luxury vehicles from a local source. Sohar’s range of amenities, strategic location, global and regional connectivity and capacity to handle the world’s largest container ships makes the port and freezone the ideal location to receive goods and, in the future, inspect the vehicles before delivery to dealers and buyers.”

Omar bin Mahmood Al Mahrizi, CEO of Sohar Freezone, DCEO Sohar Port said, “We are pleased to welcome Alfardan Group to Sohar Freezone, adding to our capacity to meet the growing consumer market for luxury automobiles. The close trade ties between Oman and Qatar will be further strengthened with the presence of two premium automotive operators. Sohar can also provide a high-quality and efficient entry point into the region as we continue to diversify the industries within Sohar Port and Freezone and create new opportunities for business collaborations. So far this year, Sohar Freezone has leased more than 340 hectares of land to a broad selection of industries, further boosting Sohar competitiveness and contributing to the ongoing economic diversification efforts in Oman."

Sohar Port and Freezone offer a wealth of attractive incentives designed to make doing business easier and more efficient, including 100 per cent foreign ownership, attractive local labour requirements, 0 per cent import or export duties and 0 per cent income tax. The on-site One-Stop-Shop service is also available to assist with the acquisition of all necessary registration, licenses, and visas.

In addition, Sohar Port operates a customs clearing service available 24 hours a day, seven days a week, and a bonded transport corridor which allows goods to travel between the Port and Freezone within 14 minutes.