Oman’s Special Economic Zone Authority at Duqm (Sezad) and Maysan Properties, a leading real estate developer in the Sultanate, have signed a usufruct agreement to establish a business part at a cost of RO43 million (€100.05 million).
The agreement was signed by His Excellency Yahya bin Said Al Jabri, chairman of the Special Economic Zone Authority at Duqm (Sezad) and by Sadiq bin Jaffer bin Sulaiman, CEO of Maysan Properties on behalf of the developer.
The business park “Maysan Square Duqm” will be built over an area of 122,000 sq m bringing 20 buildings that include a commercial complex comprising various shops, restaurants, cafes and offices. As well, the projects offers a number of freehold, rental apartments, serviced apartments, business hotel, multi-purpose hall and other leisure and retail facilities.
The complex will cover an area of 100,000 sq m, standing on a common base with a public square. The project will be developed in five phases, starting from 2021; with the first phase will witness building three pavilions. The project is expected to offer around 500 direct job opportunities.
Establishing this distinct project comes in line with the ongoing efforts of the Special Economic Zone Authority at Duqm (Sezad) to attract local investments and encourage them to invest in the Zone. The project confirms the confidence of Omani investors in the Special Economic Zone at Duqm and its capabilities to grow.