Sandan Development has officially launched its industrial park project in Oman at an event held under the patronage of Ali Al Sunaidy, Minister of Commerce and Industry, a report said.

The newly formed company recently announced plans to develop Oman's first integrated light industries park at an estimated cost of RO100 million ($259.7 million), added the Muscat Daily report.

A host of businessmen, entrepreneurs and government officials attended the inauguration ceremony at the Grand Hayat Muscat.

Al Sunaidy commended the efforts to develop a project for light industries, asserting that the development is a step forward in quality offerings and it will provide the market with many opportunities and huge investments, said the report.

A scale model of the Sandan Industrial Park attracted attention to the planned layout of the project, which includes segments for auto showrooms, workshops, office spaces, residential apartments and the other facilities, it added.

The project will cover more than 250,000 sq m, amd will be located 5 km away from Ma’abela exit on the Muscat Expressway.

Following the official launch, Sandan Development put out its available units for sale, which attracted the attention of investors, businessmen, entrepreneurs, and traders. As many as 50 auto showrooms were sold even before the launch, according to the company.