The Ministry of Housing and Urban Planning in Muscat recently signed 31 usufruct contracts in Dhofar Governorate for investment in various sectors, covering a total area of 2.3 billion square metres and amounting to over OMR22 million. These contracts aim to establish investment projects in agricultural, industrial, medical, and commercial sectors. The majority of the contracts, twenty-five in total, focus on investments in agricultural and food security sectors, with a value exceeding OMR19.5 million. One of the key contracts includes the establishment of headquarter buildings for the Oman Agricultural Society in the Wilayat of Thamrait, along with a logistics center and service facilities to support the agricultural industry.
Additionally, four of the contracts cover investment opportunities in industrial, medical, residential, and commercial sectors, totaling more than OMR3 million. The signing of these contracts was carried out by Eng. Hamad Ali Al Nazwani, the Undersecretary of the Ministry of Housing and Urban Planning for Housing, along with representatives from the companies and establishments involved in the projects. The ceremony was also attended by representatives from the Oman Investment Authority (OIA), the Ministry of Agriculture, Fisheries, and Water Resources, and the Najd Agricultural Area Development Office. These contracts are part of the Ministry’s efforts to activate the usufruct program, which is seen as a crucial tool in supporting the local economy, promoting investment, and stimulating economic growth in the region.
The Ministry’s initiatives are aimed at generating more employment opportunities for Omanis and establishing projects that contribute to self-sufficiency in vital sectors. By encouraging investments in diverse industries such as agriculture, industry, healthcare, and commerce, the Ministry is paving the way for sustainable economic development in the region. The signing of these contracts in Dhofar Governorate represents a significant step towards achieving these goals, as they will not only boost local businesses but also contribute to the overall prosperity and growth of the region. The Ministry’s focus on supporting various sectors through investment in land development is expected to have a positive impact on the economy of Oman as a whole.
The usufruct contracts signed in Dhofar Governorate underscore the Ministry’s commitment to promoting economic growth and development in Oman. By providing opportunities for investment in key sectors such as agriculture, industry, healthcare, and commerce, the Ministry is creating a conducive environment for businesses to thrive and contribute to the country’s prosperity. The establishment of projects in these sectors will not only create job opportunities for Omanis but also enhance the country’s self-sufficiency in vital areas, thereby reducing its dependence on imports. With the support of the OIA, the Ministry of Agriculture, Fisheries, and Water Resources, and other relevant authorities, these contracts are expected to drive further growth and innovation in Dhofar Governorate, setting a solid foundation for future development in the region.
The signing of 31 usufruct contracts in Dhofar Governorate represents a significant milestone in the Ministry’s efforts to stimulate economic growth and investment in Oman. By diversifying investment opportunities across various sectors, the Ministry is laying the groundwork for sustainable development and prosperity in the region. The contracts signed for projects in agriculture, industry, healthcare, and commerce highlight the government’s commitment to supporting local businesses and enhancing self-sufficiency in critical sectors. With the support of key stakeholders and authorities, these contracts are expected to yield positive results in terms of job creation, economic growth, and overall progress in Dhofar Governorate. Moving forward, the Ministry’s focus on promoting investment and development through land usufruct agreements is likely to drive further growth and innovation in the region, paving the way for a more vibrant and resilient economy in Oman.
