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SOHAR Freezone and Alfardan Holding signs agreement to expand automotive cluster

The area will primarily serve as a stockyard for both Alfardan Motors LLC and Premium Motors LLC.

TAS News Service

info@thearabianstories.com

Wednesday, June 22, 2022

SOHAR : SOHAR Port and Freezone has signed a land lease agreement with Alfardan Holding LLC for 3.5 hectares within the SOHAR Freezone automotive cluster. The area will primarily serve as a stockyard for both Alfardan Motors LLC and Premium Motors LLC, the authorized dealers of Audi, Volkswagen, Maserati and Ferrari in Oman and part of the Alfardan Group of companies, the official importer for Rolls-Royce, Land Rover, MINI, Aston Martin, BMW, Ferrari, Maserati, Fiat, Abarth and Alfa Romeo in Qatar. Premium Motors Logistic will also begin development on a pre-delivery inspection (PDI) unit on-site at a later stage, ensuring all vehicles delivered to dealerships and customers meet the highest standards.

Omar Alfardan, President and CEO of Alfardan Group said, “We are proud to expand our investment in the Sultanate of Oman aiming to contribute to the growth of the economy and create further opportunities to the local private sector. We are honored to join the SOHAR Freezone as a major premium and luxury vehicles dealerships network in the region, bringing more of our expertise and creating opportunities within the economy. The 3.5-hectare space will allow Premium Motors and Alfardan Motors to continuously supply customers with high-end luxury vehicles from a local source. SOHAR’s range of amenities, strategic location, global and regional connectivity and capacity to handle the world’s largest container ships makes the port and freezone the ideal location to receive goods and, in the future, inspect the vehicles before delivery to dealers and buyers.”

Omar bin Mahmood Al Mahrizi, CEO of SOHAR Freezone, DCEO SOHAR Port said, “We are pleased to welcome Alfardan Group to SOHAR Freezone, adding to our capacity to meet the growing consumer market for luxury automobiles. The close trade ties between Oman and Qatar will be further strengthened with the presence of two premium automotive operators. SOHAR can also provide a high-quality and efficient entry point into the region as we continue to diversify the industries within SOHAR Port and Freezone and create new opportunities business collaborations. So far this year, SOHAR Freezone has leased more than 340 hectares of land to a broad selection of industries, further boosting SOHAR competitiveness and contributing to the ongoing economic diversification efforts in Oman

SOHAR Port and Freezone offers a wealth of attractive incentives designed to make doing business easier and more efficient, including the 100% foreign ownership, attractive local labor requirements, 0% import or export duties and 0% income tax. The on-site One-Stop-Shop service is also available to assist with the acquisition of all necessary registration, licenses, and visas. In addition, SOHAR Port operates a customs clearing service available 24 hours a day, seven days a week, and a bonded transport corridor which allows goods to travel between the Port and Freezone within 14 minutes.

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