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Oman unveils 151 new investment opportunities

Oman unveils 151 new investment opportunities

Oman unveils 151 new investment opportunities

Sep 11, 2024

Muscat – In a move to boost the sultanate’s economy and stimulate its sectoral development, the Ministry of Housing and Urban Planning (MHUP) has sanctioned 151 new projects to be implemented by companies to be chosen through auctions.

This move – announced on the Tatweer platform – aims to foster commercial and agricultural advancements and improve land-use efficiency across various regions, the ministry stated.

In collaboration with the Ministry of Agriculture, Fisheries, and Water Resources, MHUP has introduced 89 new investment opportunities focused on agriculture.

The projects will cover over 9mn sqm of land across various governorates. Seventy agricultural ventures, ten livestock projects, seven water sector initiatives, and two fisheries projects will be implemented under this head, ministry informed, adding that its goal is to enhance Oman’s food, water, and livestock security through the adoption of modern and innovative scientific methods, aligning with the national development strategy for the governorates.

Additionally, MHUP has launched 62 development projects via bidding on the Tatweer platform. These developments include two commercial projects, three commercial-cum-residential areas, and 57 industrial zones, collectively totalling more than 100,000sqm.

To participate in the auctions, applicants must be Omani nationals aged over 23 years, or companies with at least 30% Omani or GCC citizen ownership.

Applications must be submitted electronically with personal identification or commercial registration numbers, and a refundable deposit of RO500 for each.