MUSCAT : Al Buraimi Industrial City has reported a significant investment increase, with new ventures worth over RO 19 million added in the first half of 2024. The total investment in the city has now reached RO 277 million, supporting a growing workforce of 1,674, including 365 Omanis and 1,309 expatriates, achieving an Omanization rate of 22 per cent.

Saeed bin Abdullah Al Balushi, Director General of Al Buraimi Industrial City, highlighted the growth in projects, investments, and leased areas. By mid-2024, the number of investments rose to 362 projects, with an additional 115 third-party (subcontract) projects, bringing the total to 477 projects. The leased areas now cover 1,879,101 square meters.

During the first half of 2024, 15 new projects were localized, covering an area of 87,000 square meters. These projects span various sectors, including industrial, commercial, and service industries, with an occupancy rate of 39 per cent.

Al Balushi also announced incentives for new contracts signed in 2024, offering a 100% exemption from rental value for 24 months and a 50% exemption for the subsequent 36 months.

He explained that the city contributes to supporting the national economy by providing job opportunities for citizens, in addition to its contribution to increasing the local product, which is also a contribution to the gross domestic product.

He pointed out that the Masar Centre is one of the important elements in the Al Buraimi Industrial City, as it contributes to providing many services to investors under one roof, and attracting investors and businessmen to invest in the city.

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