Khazaen Economic City, Oman’s newest integrated economic city, has achieved an important milestone of completing 96 per cent of its phase 1 infrastructure development works.
In a statement to Oman News Agency, Khazaen said a successful mitigation plan contributed effectively to overcome the challenges posed by the COVD-19 pandemic and it has proudly reached this key milestone before the targeted deadline.
The development phase is complemented by a supporting infrastructure works that include a 9.2km internal road network along with 200 street lights, a 22km water supply system, 15km of drain channels with a 5,000 cubic metres water tank, and a 3.3km pipeline crossing ducts for future services besides other supported facilities.
This year Khazaen has rolled out a package of incentives to stimulate further investments despite the challenges posed by the pandemic. These incentives include exemption from rental fees for certain periods and waiver from some administrative fees. Investors and companies interested in investing in Khazaen Economic City still have the opportunity to avail for these benefits until the end of 2020.
The provision of these incentives and facilities also reflects the efforts exerted by Khazaen to support various government efforts to stimulate the national economy, boost the inward investments and to attract more companies to invest in the city.
Khalid al Balushi, CEO of Khazaen, said, “We are proud to announce the achievement of this outstanding 96 per cent completion of the phase 1 for one of the most ambitious development projects located in the Governorate of South Batinah. With this development, 3.2mn square metres of leasable lands are opened up for various investors looking to benefit from Oman’s unique geo-strategic location, friendly investment climate and economic stability for their sustained growth.”
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