Investments in Al Buraimi Industrial City reach over RO 19m
Published: 04:07 PM,Jul 17,2024 | EDITED : 08:07 PM,Jul 17,2024
By mid-2024, the city hosted 362 investments and 115 third-party projects (subcontracts), totaling 477 projects.
MUSCAT: Al Buraimi Industrial City has witnessed substantial growth, with investments reaching over RO 19 million by the end of the first half of this year. The total investment volume in the city has soared to RO 277 million, employing 1,674 workers, including 365 Omanis and 1,309 expatriates, achieving an Omanisation rate of 22 per cent.
Saeed bin Abdullah al Balushi, Director General of Al Buraimi Industrial City, reported an increase in the number of projects, investments, and leased spaces. By mid-2024, the city hosted 362 investments and 115 third-party projects (subcontracts), totaling 477 projects. The leased areas in the city spanned 1,879,101 square meters.
During the first half of 2024, 15 new projects were established, covering a combined area of 87,000 square metres. These projects span industrial, commercial, and service sectors, with an occupancy rate of 39 per cent.
Al Balushi highlighted the incentives for new contracts signed in 2024, including a 100% exemption from rental value for 24 months and a 50% exemption for the following 36 months. These incentives aim to attract more investments and foster economic growth.
Al Buraimi Industrial City significantly supports the national economy by creating job opportunities for citizens and boosting the local product, thereby contributing to the gross domestic product.
Additionally, the “Masar” Centre plays a crucial role in Al Buraimi Industrial City by providing comprehensive services to investors under one roof, thereby attracting more investors and businesspeople to the city. — ONA
Saeed bin Abdullah al Balushi, Director General of Al Buraimi Industrial City, reported an increase in the number of projects, investments, and leased spaces. By mid-2024, the city hosted 362 investments and 115 third-party projects (subcontracts), totaling 477 projects. The leased areas in the city spanned 1,879,101 square meters.
During the first half of 2024, 15 new projects were established, covering a combined area of 87,000 square metres. These projects span industrial, commercial, and service sectors, with an occupancy rate of 39 per cent.
Al Balushi highlighted the incentives for new contracts signed in 2024, including a 100% exemption from rental value for 24 months and a 50% exemption for the following 36 months. These incentives aim to attract more investments and foster economic growth.
Al Buraimi Industrial City significantly supports the national economy by creating job opportunities for citizens and boosting the local product, thereby contributing to the gross domestic product.
Additionally, the “Masar” Centre plays a crucial role in Al Buraimi Industrial City by providing comprehensive services to investors under one roof, thereby attracting more investors and businesspeople to the city. — ONA