Oman's Asyad Group has announced that it has signed its first usufruct agreement with Nama Real Estate for the construction of a business complex within the Muscat Airport Free Zone. 

Spanning 25,000 sq m area, the key facility will feature a modern business complex comprising smart offices and fully equipped workspaces designed to serve regional and international companies. 

The project further reinforces the Free Zone’s position as a premier destination for corporate headquarters and investment services in Oman.

Asyad said the development includes key infrastructure such as an internal road network, water, electricity and telecommunications utilities, as well as a dedicated services building to facilitate investor support and procedures.

The project will feature a modern business complex comprising smart offices and fully equipped workspaces designed to serve regional and international companies. 

The deal, inked on the sidelines of the 21st edition of Oman Real Estate, Design & Build Exhibition and Conference, marks the official launch of investments and projects in the zone within a business environment directly linked to the Asyad Group's global logistics services, encompassing free zones, economic cities, ports and maritime and land transport networks.

This integrated ecosystem provides investors with operational synergies that enhance supply chain efficiency and connect various logistics services within a unified platform.

According to Asyad, the agreement follows the completion of Phase One of Muscat Airport Free Zone, which spans 400,000 sq m. The development includes key infrastructure such as an internal road network, water, electricity and telecommunications utilities, as well as a dedicated services building to facilitate investor support and procedures.

Integrated logistics connectivity and investor incentives position the free zone as a gateway to regional and global markets, it stated.

Announcing the operational readiness of the Muscat Airport Free Zone to attract global companies and economic projects, Asyad said this is aimed at helping open opportunities for collaboration with the private sector. 

The initiative also reinforces the integrated logistics solutions offered by Asyad Group, enhancing Oman’s connectivity to regional and international markets, it stated.

According to Asyad, the investors benefit from a comprehensive package of incentives, including 100% foreign ownership, customs exemptions, tax exemptions and streamlined procedures through a dedicated one-stop-shop service. 

These advantages reinforce the Zone’s position as a competitive destination for high-quality investment and an integrated business environment that supports long-term growth and expansion, he added. 

The agreement was signed in the presence of Dr Khalfan Saeed Al Shueili, the Minister of Housing and Urban Planning and Anwar Hilal Hamdoon Al Jabri, the Minister of Commerce, Industry and Investment Promotion.

Announcing the deal, Faisal Ali Al Balushi, Director of Muscat Airport Free zone, said: "Partnership with the private sector is a cornerstone of building a world-class logistics and investment ecosystem in Oman. This project with Nama Real Estate embodies that vision and supports our ongoing efforts to advance the objectives of the Oman Investment Authority and the goals of Oman Vision 2040."

The project forms part of MAFZ’s efforts to strengthen its position as an integrated regional hub for business and logistics services. 

The Free Zone continues to expand its ecosystem, targeting sectors such as e-commerce, logistics, pharmaceuticals, precious metals and aviation-related services, thus leveraging its strategic location adjacent to Muscat International Airport to connect investors with regional and global markets.

Hilal Abdullah Al Hawqani, the Chairman of Nama Real Estate, pointed out that the company will leverage its real estate development expertise to establish and operate a world-class business complex focused on providing flexible and sustainable work environments. 

The project supports the growth of companies and investment ventures of all sizes while enhancing the quality of commercial real estate assets within the Free Zone, he added.--TradeArabia News Service