The Public Authority for Special Economic Zones and Free Zones (OPAZ) and Sabeen Group, represented by "Sabeen Investment", signed on (Tuesday, February 9) a land usufruct agreement to establish a commercial-entertainment centre in the Special Economic Zone at Duqm (SEZAD) over an area of 10,500 sqm.
The agreement was signed in the Headquarter of the Special Economic Zone at Duqm. On behalf of SEZAD, Eng. Yahya bin Khamis Al Zadjali, In Charge of Managing the Operations of the Special Economic Zone at Duqm, signed the agreement while Khalid bin Said Al Nabhani, CEO of the Company, signed on behalf of Sabeen Investment Company.
The first phase of the project will bring a centre consisting of different facilities such as cinemas, virtual reality games, and an indoor golf course, as well as restaurants, shops with local, regional and international brands, and a car park. The second phase will be developed at a later stage to introduce a 4-star hotel, residential and commercial buildings to provide integrated services for visitors.
Commenting on the project, Ali Shihab Al Din Al Mashhour, Chairman of Sabeen Investment Group, said: “The Centre is strategically located at the centre of the Special Economic Zone at Duqm, as well as it is close to the airport, Port of Duqm and other government and private projects in the Zone”.
"Construction of the entertainment centre will extend between 12-18 months after obtaining all permits and approvals from the concerned authorities, while the total value of the project is around OMR 5 million".
Eng. Yahya bin Khamis Al Zadjali, In Charge of Managing the Operations of the Special Economic Zone at Duqm, confirmed that this project comes in line with the efforts of the Public Authority for Special Economic Zones and Free Zones to attract local investments and encourage them to invest in the Zone. As well, the project reflects the confidence of Omani investors in the Zone and its rapid growth and advantages, in addition to the services and facilities that are offered to investors.
It is worth noting that “Sabeen Investments” is the investment arm of the Sabeen Group of Companies, which started its service and investment business in the Sultanate since 2007. The Group started operating in a number of sectors including marketing, construction, modern technology and tourism in addition to the sectors specialised in food security. Through its different projects, the Group seeks to find unique investment opportunities and partnerships, which bring an added value to Omani market.