The Ministry of Housing and Urban Planning in Oman recently signed 31 usufruct agreements in Dhofar Governorate, covering a massive area of 2.3 billion square meters. This move represents a significant investment exceeding OMR 22 million, with the aim of advancing projects in various sectors like agriculture, industry, healthcare, and commerce. The majority of the agreements, 25 in total, were focused on the agricultural sector as a means of enhancing food security. These contracts, amounting to OMR 19.5 million, cover 11.6 acres of land. Notably, one contract will see the establishment of the headquarters of the Omani Agricultural Society in Thumrait, along with a logistics and services hub on a 42,000 square meter plot.
Aside from the agricultural sector, the Ministry also inked four other usufruct agreements in the industrial, medical, residential, and commercial sectors, with total investments exceeding OMR 3 million across a combined area of 22,500 square meters. These agreements were formalized by His Excellency Eng. Hamad bin Ali Al-Nizwani, Undersecretary of the Ministry of Housing and Urban Planning for Housing, along with representatives of the investing companies. Officials from the Oman Investment Authority, the Ministry of Agriculture, Fisheries and Water Resources, and the Najd Agricultural Area Development Office were also present at the signing ceremony. This strategic move by the Ministry reflects their commitment to utilizing usufruct contracts as a key driver of economic growth, encouraging investment, creating jobs, and promoting self-sufficiency in critical sectors to strengthen Oman’s local economy.
In a bid to boost local development, the Ministry of Housing and Urban Planning has taken a significant step by signing 31 usufruct agreements in the Dhofar Governorate. Covering a vast area of 2.3 billion square meters, these agreements represent a total investment exceeding OMR 22 million, aimed at advancing projects in various sectors like agriculture, industry, healthcare, and commerce. The Ministry’s focus on the agricultural sector is evident with 25 agreements signed, totaling OMR 19.5 million in investments, covering 11.6 acres of land. The establishment of the Omani Agricultural Society headquarters in Thumrait and a logistics and services hub on a 42,000 square meter plot are among the key projects under this initiative.
In addition to agreements in the agricultural sector, the Ministry also signed four other usufruct agreements in the industrial, medical, residential, and commercial sectors. These agreements involve investments exceeding OMR 3 million across a combined area of 22,500 square meters. The contracts were formalized by His Excellency Eng. Hamad bin Ali Al-Nizwani, along with representatives from the investing companies. The presence of officials from the Oman Investment Authority, the Ministry of Agriculture, Fisheries and Water Resources, and the Najd Agricultural Area Development Office at the signing ceremony underscores the collaborative effort towards local development and economic growth in Oman.
By leveraging usufruct contracts as a key driver of economic growth, the Ministry of Housing and Urban Planning aims to encourage investment, create job opportunities, and promote self-sufficiency in critical areas. This strategic approach is part of the Ministry’s wider vision to contribute to the strengthening of Oman’s local economy and foster sustainable development. The signing of 31 usufruct agreements in Dhofar Governorate is a testament to the commitment of the Ministry towards advancing projects that have a positive impact on various sectors and ultimately contribute to the overall growth and prosperity of the region. With a strong focus on local development and investment promotion, these agreements mark a significant milestone in Oman’s journey towards economic diversification and sustainable growth.
