Muscat - 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.
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