MUSCAT: Oman’s Ministry of Housing and Urban Planning (MoHUP) has sealed 26 usufruct contracts with a cumulative value exceeding RO6.5 million ($16.9 million). The Under-Secretary for Housing in MoHUP, Hamad Ali al Nazwani, inked the agreements alongside representatives from investing companies and establishments.
The signing was done in the presence of Under-Secretary for Agriculture in the Ministry of Agriculture, Fisheries, and Water Resources, as well as the Chairperson of the Authority for Small and Medium Enterprises Development.
The developmental move underscores MoHUP’s commitment to harnessing government land for optimal investment, thereby amplifying economic returns, maximising revenue, addressing varied needs across governorates, and presenting diverse investment prospects.
The 26 contractual engagements span diverse sectors, including commercial, industrial, agricultural, and educational domains, strategically distributed across the governorates of Muscat, North Batinah, South Batinah, Buraimi, Dakhliyah, and North Sharqiyah.
Buraimi’s wilayats of Al Sinanah and Mahadh take centre stage with the highest number of agreements, numbering 13, primarily in the agricultural and livestock sector. These transformative projects are slated for development across an expansive 755,000 square metres, with a robust investment of RO1.7 million (USD 4.42 million) Meanwhile, the Muscat governorate signed three usufruct contracts, encompassing the wilayats of Bausher and Seeb. These agreements, valued at over RO4.2 million (USD 10.92 million), pertain to projects in the educational and commercial sectors, spanning a total area of 13,000 square metres.
