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03 March 2025

The Board of Directors of the Public Authority for Special Economic Zones and Free Zones OPAZ Holds Its First Meeting for 2025

The Board of Directors of the Public Authority for Special Economic Zones and Free Zones OPAZ held its first meeting for the year 2025, chaired by His Excellency Sheikh Dr. Ali bin Masoud Al-Sunaidy, Chairman of the Board, with the presence of the esteemed members of the Board.

During the meeting, it was decided to grant additional incentives to investors by reducing rental values for several years for new projects in the 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 Board also approved some amendments to the real estate development regulations in the special economic zone at Duqm to make them more attractive to real estate developers and owners of residential and commercial units, aiming to improve and facilitate 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 the Muscat Municipality.

Furthermore, the 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 the Oman Investment Authority.

The 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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