As many as 182 usufruct agreements valued at more than OMR37.8 million ($98.31 million) were signed during the 21st edition of Oman Real Estate, Design & Build Exhibition and Conference, which concludes today in Muscat.
The agreements were signed in cooperation with the Ministry of Health, the Ministry of Agriculture, Fisheries Wealth and Water Resources, the Ministry of Education, the Ministry of Social Development, and the Small and Medium Enterprises Development Authority, covering several vital and development sectors, said a statement.
The agreements included three usufruct contracts for government use projects under the endowment healthcare initiative “Athar,” covering a total area of 10,850 sq m with investments reaching OMR5.2 million. The projects are located within government and service sites designated for healthcare and supporting services in Muscat Governorate.
The conference also witnessed the signing of 22 usufruct agreements for industrial activities across a total area of 11,353 sq m, with investments amounting to OMR899,000, in designated industrial and craft zones across North Al Batinah, South Al Batinah, Al Dakhiliyah, Al Wusta, and Al Dhahirah governorates.
The projects include a variety of industrial and craft activities such as metal and carpentry workshops, vehicle maintenance, electric bicycle assembly, construction materials manufacturing, handicrafts production, recycling projects, and supporting industrial services, contributing to entrepreneurship development, innovation, and the diversification of local economic activities.
Moreover, the conference also witnessed the signing of 70 usufruct agreements for agricultural, aquaculture, and food production activities, covering a total area exceeding 1,719 acres, with investments surpassing OMR14.2 million across agricultural and production sites distributed throughout various governorates.
The projects span a wide range of activities, including traditional and modern agriculture, aquaculture, dairy and meat production, cultivation of crops, vegetables, fruits, and medicinal and aromatic plants, in addition to livestock farming, feed production, and food processing industries. Several projects also incorporate advanced technologies and greenhouse farming, contributing to food security and agricultural sustainability in the Sultanate of Oman.
As for usufruct auctions, the conference witnessed the signing of 71 agreements for industrial, commercial, and mixed residential-commercial uses, covering a total area of 89,276 sq m, with investment values reaching OMR285,600.
In addition, 16 investment agreements were signed across industrial, educational, agricultural, and service sectors, covering a total area exceeding 624,000 square meters, with investments surpassing OMR17.3 million.
The agreements included a diverse range of strategic projects, including food and industrial production and manufacturing facilities, private schools, and service centers, in addition to specialized agricultural and production projects such as grape, garlic, date palm, and medicinal herb cultivation.
18 infrastructure agreements signed
The conference also witnessed the signing of 18 agreements for the implementation of infrastructure works across several integrated residential projects under the “Sorouh” initiative, in partnership with key infrastructure service providers. The agreements reflect the accelerating pace of project delivery and the ongoing enhancement of essential service readiness within Sorouh developments, included, Al Falah Neighbourhood, Al Salam Neighbourhood, Al Multaqa Neighbourhood, Al Muzn Neighbourhood, Nasmat Al Zain and Husn Al Zain.
The agreements were signed with Nama Water Services, Nama Electricity Distribution and Oman Broadband Company. - TradeArabia News Service