Muscat: Madayn’s industrial cities saw a stellar increase in investment applications and project volumes by mid-2024. Eng. Dawood bin Salem Al Haddabi, CEO of Madayn, revealed a 30% surge in investment applications, totalling 184 by June, up from 141 in the same period last year.

The total investment across Madayn’s industrial cities now stands at RO 7.6 billion, showing a 2.3% growth from RO 7.4 billion at the close of 2023. This rise reflects an additional RO 177 million in investments, with Sohar Industrial City leading the charge, contributing an impressive RO 53 million to the increase.

The volume of new investments included RO 151 million in industrial projects and RO 62 million in non-industrial sectors. The number of investment contracts reached 2,310, a slight increase of 0.65% from late 2023. These contracts cover diverse areas: 70% industrial, 12.6% commercial, 7.3% service, 4.8% technical, and 5.3% other sectors.

Moreover, local investments now employ around 55,000 workers, up 10% from the previous year, with Omanization at 38%. The industrial sector remains the dominant employer, accounting for 81% of the workforce. The leased area in industrial cities has also expanded by 0.30%, reaching 33.7 million square meters.