Oman Investment Company announced its cooperation with the Economic Zone Authority of (SEZAD) to develop an integrated academic city to be built on a million square meter area and will include higher education colleges.
The main planning for the region, which will also include commercial, residential, and hospitality areas, was completed by the housing investment company and approved by the Economic Zone Authority of Al-Dagem, said a statement. As part of the first phase of development, housing has entered into a sub-benefit agreement with the Middle East Education Project (MEEV) to develop a part of the land to establish a higher education college in the Daghm Economic Zone. He said.
The new college will be the core of the university city project that Amman’s housing plans to be established in stages in the economic zone of Duqm. Its first program will be launched in 2021-2022.
Higher Education College is the second investment of a housing company to invest in the economic zone of Duqm after it previously developed a healthcare facility that has been operating since 2017.
The Oman Investment Company has interests in key sectors such as education, real estate, and infrastructure, as well as a diverse shareholder base from Oman and Kuwait.
Sheikh Ahmad bin Sultan al-Yaakoubi, vice chairman of the housing investment board, described it as one of the company’s priorities and said it was an excellent example of “responsible investment” for a housing company.
Housing Investment was established in 2008 with pension funds and companies from the shareholders of Oman and Kuwait. Since its opening, housing has invested in the establishment and development of a number of schools, real estate and health care facilities.
Dr. Abdullah Al-Sabbahi, Chairman of the MEEV Board, said he intends to work closely with the Ministry of Higher Education, the Economic Zone Authority of Al-Dazad, and the Housing Investment Company to implement the proposed college in line with the Oman Vision 2040 strategy.
“We are keen to establish efficiency centers, a marine science center, and a logistics and renewable energy center,” he said.
“The purpose of these centers is to promote research marketing, capacity-building, and solutions to social and industrial requirements”.