Thursday 5 December 2019

Oman's Khazaen Economic City unveils Phase I masterplan

MUSCAT, July 17, 2019

Khazaen Economic City (KEC), master developer of the new 52-million-sq-m integrated economic city in the Barka area of Oman, has unveiled the detailed masterplan for Phase One of the project.

Located to the north of the capital, Muscat, Khazaen is the country's largest public-private partnership project and is already attracting investors through its combination of unhindered, deep-water access to international maritime routes; preferential market entry under free trade agreements with the GCC, Singapore and the US; as well as the city’s proximity to Middle East, Indian, Asian and African markets.

The city's masterplan was developed by Atkins, a member of the SNC-Lavalin Group, the lead consultant for Khazaen’s planning and design work.

CEO Khalid Awadh Al Balushi highlighted the support of the Asyad Group and welcomed the rapid approval of the masterplan for the first phase - which marks the beginning of the next stage.

"With the approved plan for the first phase of the city, KEC can continue to attract local and foreign investment to the new, state-of-the-art facilities and units across the development," said Al Balushi.

KEC chief said following the announcement, local and international road-shows would be held to introduce the components of the masterplan and its stages of implementation to new and prospective tenants – further supporting the economic growth of the sultanate.

"The recent Foreign Capital Investment, Privatization and PPP laws make it easier than ever before for Khazaen to attract local and international investments to the city," he added.

Atkins’ managing director for Oman Marco Malpiedi said: "With over 50 years’ presence in the Middle East, Atkins has played a key role in supporting some of the sultanate’s large-scale development projects."

"We are proud to be part of this world-class economic city that is set to create all facets of a modern and future-proofed destination designed for people to live and work. Working together with a forward-thinking client and stakeholders, we are using our masterplanning and engineering expertise to deliver this project to the highest quality," he added.

Engineer Salim Bin Sulaiman Al Thuhli, general manager of projects and engineering at KEC, pointed out that the approval of the masterplan of Phase One was a significant milestone in the life of the project.

"This allows us to embark on the execution of the development and break ground. Soon we will announce the award of the first construction contract," he noted.

The first phase of the city will include one-of-a-kind facilities such as the first dry port in Oman, a free zone, logistics and industrial complexes as well as social infrastructure, residential, commercial and entertainment components, he added.-TradeArabia News Service


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