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Investments in Madayn industrial cities hit RO 6.6 billion in 2019

The Public Establishment for Industrial Estates (Madayn) is working towards developing Madayn Vision 2040 to be along the lines of Oman Vision 2040, said Hasan bin Marhoon al Marhoon (pictured), Director- General of Planning and Business Development at Madayn. “Through the development of Madayn Vision 2040, we aim at establishing world-class business cities while maintaining the Omani identity. Madayn aims at emphasising its role in promoting comprehensive and sustainable economic and social development through enhancing public-private partnership in order to develop and operate integrated business cities,” Al Marhoon pointed out.

Al Marhoon informed that the gross investment volume in Madayn’s various industrial cities touched RO 6.6 billion by the end of 2019 marking a growth rate of 1.54 per cent compared to the same period in 2018. Besides, the number of workforce at the end of 2019 reached 61,213, with an Omanisation percentage touching 34 per cent. The number of investing projects in the industrial cities reached 2,313 projects at the end of 2019, of which 1,759 are existing projects, 285 are under construction and 269 projects have been allocated with spaces.

Moreover, the total area of Madayn’s industrial cities reached 114,306,724 square metres by the end of 2019 with utilisation rate of 52 per cent of the total investable area. Al Marhoon elaborated that the growth amount in the total volume of investments in all the industrial cities during 2019 amounted to RO 101 million. Suhar Industrial City had the highest increase in total investments during 2019 compared to the other industrial cities of Madayn.

Al Marhoon elaborated that the growth amount in the total volume of investments in all the industrial cities during 2019 amounted to RO 101 million. Suhar Industrial City had the highest increase in total investments during 2019 compared to the other industrial cities of Madayn.

“The total investments in Suhar Industrial City increased by RO 24 million, bringing the cumulative volume of the investments by the end of 2019 in Suhar to RO 2.2 billion compared to RO 2.1 million at the end of 2018. This increase is attributed to the investments of companies that were introduced in Suhar Industrial City during 2019’’, he said.

The number of workforce increased by 1,143 workers during 2019 compared to 2018, marking a growth rate of 2 per cent. Al Rusayl and Suhar Industrial Cities account for nearly two-thirds of the total workforce within Madayn’s industrial cities. The percentage of the workforce in the two industrial cities is 35 per cent and 28 per cent respectively.

Al Marhoon added that 102 projects have been localised during 2019 at various stages of implementation, noting a growth rate of 4.6 per cent compared to 2018.

Of these projects, 76 per cent are existing projects, 12 per cent have been allocated with spaces, and 12 per cent are under construction. These projects vary in terms of activities, as 58 per cent are industrial projects, 20 per cent are commercial projects, 14 per cent are service and logistical projects, 7 per cent are technical and 1 per cent are housing and real estate projects.

Additionally, Al Buraimi Industrial City topped the other industrial cities in terms of the total number of projects. By the end of 2019, the number of projects in Al Buraimi Industrial City touched 508, and is followed by Suhar Industrial City with 416 projects.

In 2019, around 9.7 million square metres were added as an expansion to Madayn’s gross area. With this expansion, Madayn’s total area reached nearly 114 million square metres, compared to 104 million square metres at the end of 2018.

Al Marhoon explained that the year 2019 witnessed the implementation of Madayn’s approach of public-private partnership as the management and operation of Al Rusayl Industrial City were transferred to Oman Investment and Development Holding Company (Mubadrah).

With this approach, the development of infrastructure and superstructure in the industrial city has accelerated as phase (2A) was launched at a cost exceeding RO 32 million, as well as the redevelopment and rehabilitation project of the entrances to Al Rusayl Industrial City and the introduction of new entrances to be in line with the business growth and demand at Al Rusayl at a cost of approximately RO 3 million.

Additionally, the logistics project has been completed at Al Rusayl Industrial City at a value of more than RO 1.5 million. Moreover, the company has begun preparing technical and consulting studies for the development of phase (2B) and rehabilitation of the entire old area, which extends to nearly 5 million square metres. Al Marhoon emphasised that by the end of the current year, the experience of privatising Al Rusayl Industrial City will be evaluated from all aspects.
  • #Investment
  • #Madayn
  • #IndustrialCity
  • #business
  • #Growth
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