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Asyad Group Launches First Phase of Construction for the Muscat Airport Free Zone

Asyad Group has officially commenced the first construction phase for the Muscat Airport Free Zone

TAS News Service

info@thearabianstories.com

Saturday, October 12, 2024

Muscat: The first development phase includes land preparation, levelling, and establishing an internal road network, along with essential public service facilities. Notably, an administrative office complex is in the works, to be developed in collaboration with private sector partners.

The Muscat Airport Free Zone aims to create a modern and appealing business environment, targeting global and regional companies, financial institutions, general trading firms, and startups. By doing so, it intends to bolster the free zone’s capacity as a centre for foreign direct investment while providing world-class logistical support and facilities.

Located adjacent to Muscat International Airport, the free zone is poised to enhance its economic significance and integrate seamlessly into Asyad’s comprehensive logistics system. This system links various land and sea ports, the dry port, and the free and special economic zones, aiming to boost exports and imports via air freight for products requiring swift supply chains, such as pharmaceuticals, food, and e-commerce shipments.

Positioned as a strategic project, the Muscat Airport Free Zone will serve as an integrated logistics center with robust air cargo capabilities. As the developer and operator of the zone, Asyad Group is dedicated to creating an all-encompassing commercial environment that offers tax and customs exemptions, ensuring it becomes one of the region’s premier investment destinations.

Investment opportunities abound for the private sector, with Asyad Group encouraging long-term partnerships to cultivate various commercial projects. This model ensures stability and sustainability for partners and enhances the development of high-value strategic assets within the free zone.

Faisal bin Ali Al Balushi, Senior Manager of the Muscat Airport Free Zone, emphasized the group’s dedication to working with private sector partners to realize this strategic project. He highlighted its potential to strengthen Oman’s logistics sector, drive economic growth, and unlock new opportunities for both local and international companies.

In a statement to the Oman News Agency, Al Balushi reiterated that the free zone represents a chance for the Omani private sector to thrive and capitalize on its competitive advantages and promising investment opportunities. He underscored that Asyad Group’s project implementation aligns with the “Oman Vision 2040 goals,” which aims to improve the Sultanate of Oman’s standing in the Global Competitiveness Index.

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