Friday, February 23
11:40 PM

Salalah Free Zone attracts new investments worth RO728mn during 2023

21 Jan 2024 By OUR CORRESPONDENT

Muscat – Salalah Free Zone, a regional business hub for industrial and logistics activities, has reported impressive investment growth for 2023, securing new investments worth RO728mn during the year.

The zone signed nine new investment agreements, allocated 1.2mn square meters of leased land, and issued eight construction permits during 2023, according to data issued by Salalah Free Zone on X, formerly Twitter.

Salalah Free Zone highlighted the significant milestones achieved in 2023, including a substantial increase in investment size, quantity, and the leasing of extensive land areas, emphasising the zone’s commitment to the sultanate’s economic development.

These accomplishments have led to a substantial surge in the cumulative investment in Salalah Free Zone, now exceeding RO4.5bn. The land occupancy rate has crossed the 50% mark, with 129 investments and a leased land area of 6mn square meters, the data showed.

By December 2023, as many as 39 projects were operational in the Salalah Free Zone, with an additional 21 projects under construction, showcasing the zone’s growing attractiveness to businesses and investors.

Salalah Free Zone, in collaboration with Omani authorities, is dedicated to providing comprehensive support facilities for hosted industrial projects. The zone’s goal is to identify opportunities across various economic sectors and establish enduring partnerships with customers. This involves creating modern, integrated infrastructure in a strategically located area, offering attractive incentives, a secure environment, and reliable services.

As a premier hub for high-quality industrial and logistical activities, Salalah Free Zone extends various economic incentives, advantages, and facilities to investors. Noteworthy among these are tax exemptions and the right to full foreign ownership of investment projects.

Additionally, the zone’s strategic location next to the Port of Salalah, overlooking major global shipping routes, positions it among the world’s top-tier commercial ports.

© 2021 Apex Press and Publishing. All Rights Reserved. Powered by Mesdac