Investments exceeding OMR 22 Million fuelled by usufruct contracts in Dhofar

Muscat- In a significant boost to local development, the Ministry of Housing and Urban Planning has signed 31 usufruct agreements in the Dhofar Governorate, covering a total area of 2.3 billion square meters. These agreements represent a total investment exceeding OMR 22 million, aimed at advancing projects across various sectors including agriculture, industry, healthcare, and commerce.

Among the key agreements, 25 were signed within the agricultural sector, with a focus on food security. These contracts, totalling OMR 19.5 million in investment, cover 11.6 acres of land. Notably, one contract will establish the headquarters of the Omani Agricultural Society in the Wilayat of Thumrait, alongside a logistics and services hub on a 42,000 square meter plot.

The Ministry also signed four other usufruct agreements in the industrial, medical, residential, and commercial sectors, with investments totalling over OMR 3 million across a combined area of 22,500 square meters.

The contracts were formalised by His Excellency Eng. Hamad bin Ali Al-Nizwani, Undersecretary of the Ministry of Housing and Urban Planning for Housing, along with representatives of the invested companies. Officials from the Oman Investment Authority, the Ministry of Agriculture, Fisheries and Water Resources, and the Najd Agricultural Area Development Office were also present at the signing.

These agreements are part of the Ministry’s wider strategy to leverage usufruct contracts as a key driver of economic growth. By encouraging investment, creating jobs, and promoting self-sufficiency in critical areas, the initiative aims to contribute to the strengthening of Oman’s local economy.