Muscat – Oman Investment Authority (OIA) has expanded its strategic portfolio in the water sector through an investment in US-based Gradiant, a global leader in advanced water and wastewater treatment solutions.

Gradiant, which holds 166 registered patents and has 67 pending applications, has been a key partner for OIA in localising cutting-edge technologies for the Omani market.

According to the latest issue of OIA’s bulletin Enjaz & Eejaz, the collaboration has led to establishment of the Oman Laboratories Innovation Centre in partnership with Nama Water Services Company, as well as discussions with Gradiant’s subsidiary Turing Company on leveraging artificial intelligence to address the sultanate’s water sector challenges. 

The bulletin also highlighted OIA’s recent divestments in the international real estate sector, including sale of its stake in  Scape in Australia, earning an internal rate of return (IRR) of 17% and a 2.3x return on investment. It also exited its investment in Zurich Apart Hotel, part of the Elba Hospitality portfolio with Westmont Hospitality Group, securing an IRR of 22% and a 4.4x return.

Additionally, the bulletin featured a project to plant 30,000 Omani lemon trees in Rahab Farm, the first carbon sequestering project launched by Nakheel Development Oman. This project aims to contribute to achieving net zero emissions and increase production of Omani lemons by 38%.

To provide updates on OIA projects, the bulletin introduced a new section titled ‘From the Field’, highlighting the authority’s on-site visits to projects under implementation, reflecting its commitment to supporting national development.

The issue concluded with a feature on the Hujrat al Sheikh neighbourhood in the wilayat of Wadi al Ma’awal, one of the oldest Omani settlements. The piece highlighted a new walkway project to revitalise the neighbourhood’s ancient alleys, connecting key heritage landmarks and supporting local economic growth.