A new facility building in Al Mazunah Free Zone is to be developed, following a deal between Oman’s Public Establishment for Industrial Estates (Madayn) and Shumookh Investment and Services.
The agreement was signed by Said bin Abdullah Al Balushi, director general of Al Mazunah Free Zone, and Eng Musallam bin Juma’a Al Hudaifi, CEO of Shumookh Investment and Services.
According to statement, the project will be built at a strategic and easily accessible location, on an area exceeding 11,000sqm and will cost $9.09 million. It will be implemented in two phases, with Phase One comprising four floors and Phase Two adding two more floors, as per market requirements at the time.
The project aims to offer integrated services and facilities required by investors, business owners and clients under one platform, in order to facilitate procedures and accelerate the pace of business the statement explained.
The building will include a mixed-use space, Masar Service Centre, restaurants, office space for import and export services and an area for investments. The project is expected to be completed during the first quarter of 2021.
The project is said to represent a continuation of the efforts by Madayn to boost investment movement and achieve added value at Al Mazunah Free Zone, which will contribute in diversifying income sources and advancing the national economy.
Madayn is also said to be implementing a number of other projects in the free zone including development of Phase One (second package) of the free zone, a power transmission network for companies, a broadband project, electronic surveillance systems and a cargo gates management system. The latter will control and manage the entry/exit of vehicles to/from the free zone.
