Muscat – Oman Investment Authority has made a successful divestment from one of its assets in Italy, which generated an investment return exceeding 50% of the original value reflecting OIA’s strategic efforts in maximising financial returns through global investment opportunities.

The latest issue of OIA’s quarterly newsletter Enjaz and Eejaz reported that the authority began this investment in 2007, involving a standalone office building known as RCS, located on the outskirts of Milan.

Spread over 22,000sqm of leasable space, the property is designed to meet local market needs, making it highly attractive to a broad range of tenants. The building was fully leased to a major media group, RCS Media, under a 20-year lease agreement (2011–2031) with option for a six-year extension. This arrangement ensured financial stability for the asset and significantly enhanced its market value over the years.

Continuing its strategy of expanding international investments and consolidating partnerships with global stakeholders, Uzbek-Oman Investment Company – a strategic joint venture of OIA – has pursued a landmark investment in the Uzbek capital Tashkent. It involves establishing an American university in collaboration with Arizona State University as academic partner. The university, designed to meet global academic standards, is set to transform higher education in Uzbekistan with capacity to accommodate over 4,000 students in technical and finance programmes. Plans are underway to expand the campus’s capacity to 9,000 students.

Established in 2010 with capital of US$200mn, OIA owns 75% of Uzbek-Oman Investment Company. Its portfolio currently includes ten diverse investment projects spanning textiles, food products, pharmaceuticals, retail, technology, real estate and foreign currency markets, reflecting focus on diversifying investments in promising and vital sectors.

The newsletter also highlighted a new digital initiative of OIA subsidiary Omantel in alignment with Oman Vision 2040 and its objectives, as well as supporting the digital economy. By developing an artificial intelligence-powered electronic platform, Omantel seeks to enhance local advertising expenditure while reducing financial outflows.