Sur Industrial Estate investment approaches $5bn
Number of applications for projects in next phase being studied
Investment in Sur Industrial Estate in Oman has almost reached $5bn (OMR1.93bn), according to Abdullah al Mukhaini, director general of the development.
Demand for plots on the estate is increasing, with a number of applications to establish and localise new projects being studied, he said.
“The total value of investment for localised projects in the estate has touched OMR1.9bn [$4.9bn],” Mukhaini said in a statement.
“Economic development and expansion of infrastructure services, ports, airports and advanced road networks in the sultanate will significantly raise the demand from investors from within and outside Oman. This will reflect positively on the high investment values in the various industrial estates,” he added.
The next phase of the estate’s development is expected to see a number of investors construct residential complexes and service facilities to better serve the employees working in the estate, Mukhaini said.
Sur Industrial Estate has 27 localised factories which span liquefied natural gas (LNG), urea, ammonia, ready-mixed concrete and cement products including bricks and tiles, marble factories, plastic bags, fishing industries, wooden furniture, among other fields.
“Around 27% of the total leasable space (23.7mn m²) is already occupied. The estate embodies an economic significance for the country as it is embracing a complex for LNG, which contributes 12% to Oman’s gross domestic product (GDP).
"The estate also has a urea and ammonia plant, in addition to a power plant, which is the largest in the country with a capacity of 1,500 megawatts (MW),” Mukhaini said.