Friday 13 / September / 2024
Muscat: The Ministry of Housing and Urban Planning today signed 31 usufruct contracts in Dhofar Governorate for investment on a total area of 2.3 billion square metres, to the tune of more than OMR22 million.
The contracts provide for the establishment of investment projects in agricultural, industrial, medical and commercial sectors.
Twenty-five of the contracts deal with investment in agricultural and food security sectors at a value of more than OMR19.5 million. They include a contract to establish headquarter buildings for Oman Agricultural Society in the Wilayat of Thamrait, a logistics centre and service facilities.
Four of the contracts provide for investment in industrial, medical, residential and commercial sectors to the tune of more than OMR3 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 the companies and establishments undertaking the projects. The ceremony was also attended by representatives of Oman Investment Authority (OIA), the Ministry of Agriculture, Fisheries and Water Resources, and the Najd Agricultural Area Development Office.
The Ministry of Housing and Urban Planning is making efforts to activate the usufruct programme, considered an effective means to support the local economy, enhance investment and stimulate economic growth. The initiatives include the generation of employment opportunities for Omanis and the establishment of projects that contribute to self-sufficiency in some vital sectors.
