Oman’s Madayn lays foundation stones on projects worth $37.7m

Oman’s Public Establishment for Industrial Estates (Madayn) has laid the foundation stones on two projects worth $37.7m (OMR14.5m), including the sixth building in the Knowledge Oasis Muscat (KOM 6) project, as well as a services and facilities building in the sultanate’s Al Rusayl Industrial City.

The $26.76m (OMR10.3m) KOM 6 building will be constructed on an area of 51,000m2 and will serve as a hub for local and international technology and communications companies, providing more than 500 parking spaces in its two-floor basement.

The project will consist of eight floors – including a two-floor basement, ground floor, and six floors – and will offer 21,000m2 of rental area.

Expected to complete in 2021, the building will provide large office spaces, banking services, commercial stores, among other services. Its food court will comprise nine restaurants with indoor, outdoor, and semi-outdoor dining areas.

In addition, the $10.9m (OMR4.2m) facility building at the Al Rusayl Industrial City will cover a total building area of 19,000m2 and will feature 230 parking spaces at the basement level.

The facility building will consist of 10 floors – including a one-floor basement, ground floor, and eight floors – and will comprise a rental area of 8,500m2.

The building will provide various facilities to the visitors and employees based at Al Rusayl Industrial City and the neighbouring areas, including banking services, travel agency, cafes, restaurants and grocery stores, as well as office spaces for government and private entities.

The chief executive officer of Madayn, Hilal bin Hamad Al-Hassani, who was present at the ceremony, said that the two projects are in line with Madayn’s efforts to provide improved services, and encourage local, regional, and international investment in its industrial cities.

The projects also intend to facilitate the growth of the sultanate’s industrial sector in a manner that reflects positively on the national economy, and the prosperity of the business environment.

Work is also underway in developing the administration and facility building in Samail Industrial City, which is set to be inaugurated in conjunction with the sultanate’s 50th National Day celebrations.

Construction works on the facility building in Oman’s Al Mazunah Free Zone will commence in April 2020.

Shumookh Investment and Services – the investment arm of Madayn – is also considering the development of a number of projects including a business hotel in Al Rusayl Industrial City, and a freehold residential project in KOM.

Additionally, Madayn aims to announce the development of a hospital and an international school in 2020.

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