Maysan Properties, an Omani real estate development company, is planning to set up a business park in Duqm with an estimated cost of RO43mn.
A usufruct agreement was recently signed between the Special Economic Zone Authority at Duqm (SEZAD) and Maysan Properties to establish the business park ‘Maysan Square Duqm’, SEZAD announced through its Twitter handle on Saturday.
The agreement was signed by H E Yahya bin Said al Jabri, chairman of the Special Economic Zone Authority at Duqm, and Sadiq bin Jaffer bin Sulaiman, CEO of Maysan Properties.
The Maysan Square Duqm project consists of 20 buildings including a commercial complex with shops, restaurants, cafes and offices. It also offers residential properties, serviced apartments, business hotel, leisure and retail facilities, according to SEZAD’s announcement.
It said that the project is estimated to cost RO43mn and will provide 500 direct jobs. Maysan Square Duqm complex will be built over 100,000sqm in five phases, starting in 2021.
Establishing Maysan Square Duqm reflects ongoing efforts of SEZAD to attract local investments to the Special Economic Zone in Duqm.
SEZAD said that this new project confirms the confidence of Omani investors in the Special Economic Zone in Duqm and its capabilities to grow.
Maysan Properties is a new real estate development company based in Oman. The company is focused on becoming one of the premier destinations for premium real estate developments in and around Oman.