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.
According to Oman News Agency, the meeting concluded with a decision 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, there was an approval for a reduction in rental values and exemptions for the initial years for new projects in the developing industrial cities, including Al Mudhaibi Industrial City, Al Suwaiq Industrial City, and Madha Industrial City.
The OPAZ Board also approved amendments to the real estate development regulations in the Special Economic Zone at Duqm (SEZAD) to enhance appeal for real estate developers and owners of residential and commercial units. This initiative aims to improve and streamline procedures in the real estate development sector within the zones.
Moreover, the OPAZ Board reviewed plans for organizing the industrial area in Al Wadi Al Kabeer, managed by the Public Establishment for Industrial Estates "Madayn." The objective is to improve infrastructure and update investment regulations, aligning with provisions issued by Muscat Municipality.
The Board was also updated on the progress of restructuring Oman Investment and Development Holding Company "Mubadrah" and its subsidiaries, in coordination with Oman Investment Authority (OIA).
Lastly, the Board provided comments on various projects and their executive status, reflecting OPAZ's continuous efforts to enhance economic development in special economic zones, free zones, and industrial cities.
