Muscat, Khazaen Economic City, Oman’s newest integrated economic city, has achieved an important milestone of completing 96% of Phase 1 of its infrastructural works at the site.
A successful mitigation plan has contributed effectively to overcome the challenges posed by the COVD-19 pandemic, as Khazaen has proudly reached this key milestone before its targeted deadline.
The development phase is complemented by a supporting infrastructure works that include a 9.2 km internal road network along with 200 street lights, a 22km water supply system and 15km of drain channels, with 5,000 cubic meters water tank and 3.3 km pipeline crossing ducts for future services besides other supported facilities.
Modern infrastructure supported by excellent ancillary services, well connected road network, proximity to the key logistic gateways throughout the Sultanate, availability of fiber optics infrastructure and service utilities through partnerships with leading utilities providers in Oman, will position Khazaen as a preferred hub to do business for local, regional, and international investors.
As well amid this year, Khazaen has rolled out a package of incentives to stimulate further investments despite the challenges posed by the COVID-19 pandemic. These incentives include exemption from rental fees for certain periods and waiver from some administrative fees. Investors and companies interested in investing in Khazaen have still the opportunity to avail for these benefits until the end of 2020.
The provision of these incentives and facilities also reflects the efforts exerted by Khazaen to support various government efforts to stimulate the national economy, boost the inward investments and to attract more companies to invest in the City.
Khalid Al Balushi, CEO, Khazaen, in his comments said, “We are proud to announce the achievement of this outstanding 96% completion of Phase 1 for one of the most ambitious development projects located in the Governorate of South Al Batinah. With this development, 3.2 million squares meter of leasable lands are opened up for various investors looking to benefit from Oman’s unique geo-strategic location, friendly investment climate and economic stability for their sustained growth”.
He added: “Khazaen’s core purpose of being a catalyst in Oman’s economic growth is gradually being fulfilled as we are seeing more companies, small businesses, operators, service providers…etc choose the City as their preferred location. Khazaen is open to business for all, from light and medium manufacturing, logistics, warehousing, commercial to residential complexes etc. Phase 1 of Khazaen will host major projects of strategic and national importance such as the Dry Port, the Central Fruits and Vegetables Market, the Auto Market and other investment projects like the pre-built warehouses that will be offered to investors at different stages.”
The development of this phase will provide the infrastructure and utilities needed to enable key anchor and national projects which will support the economy and attract foreign investments.
It’s worth mentioning that Khazaen has signed long lease agreements with local, regional and international investors to host their manufacturing facilities in the newest integrated economic city in the Sultanate of Oman.
Source: Oman News Agency