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26 pacts worth RO6.5mn inked to stimulate economy

24 Dec 2023 26 pacts worth RO6.5mn inked to stimulate the economy By OUR CORRESPONDENT

Muscat – The Ministry of Housing and Urban Planning (MoHUP) signed 26 usufruct contracts worth over RO6.5mn on Sunday.

The agreements were signed by Hamad Ali al Nazwani, Undersecretary for Housing in the Ministry of Housing and Urban Planning, and representatives of investing companies and establishments, in the presence of the Undersecretary for Agriculture in the Ministry of Agriculture, Fisheries and Water Resources and the Chairperson of Authority for Small and Medium Enterprises Development.

The signing of the usufruct agreements for different governorates reflects MoHUP’s efforts towards optimal investment in government land, enhancing economic returns, maximising revenue from government land, meeting needs in various governorates and providing diverse investment opportunities.

The 26 contracts cover various sectors – commercial, industrial, agricultural and educational – in the governorates of Muscat, North Batinah, South Batinah, Buraimi, Dakhliyah and North Sharqiyah.

The wilayats of Al Sinanah and Mahadh in Buraimi witnessed the highest number of signed agreements – 13 – in the agricultural and livestock sector. The projects will be set up on a total area of 755,000sqm with an investment of RO1.7mn.

Three usufruct contracts were signed for Muscat governorate – for projects in the wilayats of Bausher and Seeb – in the educational and commercial sectors for an investment value of more than RO4.2mn on a total area of 13,000sqm.

Three usufruct contracts were signed in the industrial and agricultural sectors in South Batinah in the wilayats of Barka and Nakhal. These projects will be set up on an area of more than 18,000sqm and with an investment of RO285,000.

Additionally, one usufruct contract was signed for the wilayat of Liwa in North Batinah worth RO200,000 and two inked in the commercial sector for the wilayat of Samail in Dakhliyah worth more than RO55,000.

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