Tuesday, November 28
08:31 PM

Housing Ministry signs 22 usufruct agreements worth over RO4.5mn


Muscat – The Ministry of Housing and Urban Planning (MHUP) signed 22 usufruct agreements of a total investment value of over RO4.5mn in several governorates on Monday.

H E Hamad bin Ali al Nazwani, MHUP Undersecretary, signed the agreements with representatives of the investment projects.

Of the 22 agreements, four are for industrial projects and one commercial-cum-residential project in Muscat; two industrial, five commercial and four commercial-cum-residential projects in Dakhliyah; three industrial projects in South Batinah; one industrial project in North Sharqiyah; one industrial project in Al Wusta; and a residential commercial project in Dhofar.

MHUP offered 161 plots of land via public auction to boost investments in the sultanate in 2022. The 161 land plots offered for investments were provided with all services and located in areas with large population density. The ministry signed 500 contracts and received fees of more than RO7.5mn for these.

The ministry is currently offering 41 plots of land, between 150sqm to 2,000sqm, and 15 investment sites, between 3,113sqm and 108,000sqm, via public auction in several governorates to develop the real estate sector and stimulate investments.

This is with the aim of supporting growth of the GDP and supporting the strategic goals of Oman Vision 2040.

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