OPAZ Board of Directors Holds
its First Meeting for 2025

Muscat, 3 Mar (ONA) — The Board
of Directors of the Public Authority for Special Economic Zones and Free Zones (OPAZ)
today held its first meeting for the year 2025, under the chairmanship of
Sheikh Dr. Ali bin Masoud Al Sunaidy, OPAZ Chairman.

During the meeting, it was decided
to grant additional incentives to investors by reducing rental values for
several years for new projects in Ibri Industrial City, Sur Industrial City and
Mahas Industrial City. Additionally, a reduction in rental values and
exemptions for the first years were approved for new projects in several
industrial cities under construction, including Al Mudhaibi Industrial City, Al
Suwaiq Industrial City and Madha Industrial City.

The OPAZ Board also approved some
amendments to the real estate development regulations in the Special Economic Zone
at Duqm (SEZAD) to make them more attractive to real estate developers and
owners of residential and commercial units. The move aims to improve and streamline
procedures in the real estate development sector in the zones.

OPAZ Board was also briefed on the
plan to organize the industrial area in Al Wadi Al Kabeer, which is under the
management of the Public Establishment for Industrial Estates
“Madayn,” with the aim of improving infrastructure and updating the
regulations and provisions for investment organization in the area, taking into
account the regulations issued by Muscat Municipality.

Further, the OPAZ Board was
updated on the executive status of the restructuring of Oman Investment and
Development Holding Company “Mubadrah” and its subsidiary and affiliate
companies, in coordination with Oman Investment Authority (OIA).

The OPAZ Board also provided its
comments on several projects and the executive status of these projects as part
of the ongoing efforts by OPAZ to enhance economic development in special
economic zones, free zones and industrial cities.

— Ends/Khalid