The Oman Investment Authority (OIA) recently announced a successful divestment from one of its assets in Italy, which yielded an investment return of more than 50% of the original value. This accomplishment demonstrates OIA’s strategic approach to maximizing financial returns through global investment opportunities. The investment in question began in 2007 and involved a standalone office building called RSC located in Milan, Italy. The property, spanning 22,000 square meters, was fully leased to a major media group, RCS Media Group, under a long-term agreement, contributing to its market value appreciation over the years.
In an effort to expand its international investments and strengthen partnerships with global stakeholders, the Uzbek-Oman Investment Company (a joint venture owned 75% by OIA) has made a significant investment in Uzbekistan’s capital, Tashkent. This initiative involves the establishment of an American university in collaboration with Arizona State University, aimed at setting new standards for higher education in Uzbekistan. The university has the capacity to accommodate over 4,000 students initially, with plans to expand to 9,000 students upon the completion of new facilities. This strategic investment aligns with Oman Vision 2040 and reflects a focus on diversifying investments in key sectors.
OIA’s subsidiary Omantel is also making strides in the digital realm, with the development of an artificial intelligence-powered electronic platform designed to enhance local advertising expenditure while reducing financial outflows. The platform, set to be launched soon, aims to build a sustainable, tech-driven advertising ecosystem in Oman and benefit various sectors of Omani society. With plans for regional expansion into GCC countries, this digital initiative represents a significant step towards transforming the digital advertising sector.
The December 2024 issue of OIA’s quarterly newsletter, Enjaz and Eejaz, highlighted several other noteworthy topics, including the success of locally branded Onsor computers in international markets and the career journey of Eng. Azza Al Subhi, a process safety engineer at OQ Exploration and Production. These stories showcase Oman’s commitment to innovation, diversification, and excellence in various industries. With a focus on strategic investments, partnerships, and digital transformation, OIA is setting the stage for sustainable growth and development in line with national goals and vision.
