Muscat, June 8 2020:
Khazaen Economic City (Khazaen), being developed in Barka, South Batinah Governorate and is considered one of the largest and ambitious projects aimed at contributing to the Sultanate economic diversification plans, is on track to complete the first infrastructure package of the city despite the challenges posed by the current COVID-19 pandemic.
The infrastructure works at site is progressing well according to the plan and reached about 63% of the targeted works up to date. The first package of infrastructure work includes a 10km of asphalt road network, 15km of storm water channels, whereas 75% of this stage has been already completed. This package also includes a 21km of potable water network including the main water transmission line and storage tanks, of which, 8 km of water network has been laid down and implementation of the remaining scope progress as planned
As part of Khazaen’s Omanization efforts, Khazaen’s technical team consists of 100% Omani engineers who are playing a critical role in the implementation of this mega project. The local engineers are directly supervising the progress of construction works at site to ensure that the infrastructure works meet its criteria and quality standard as per the followed development and building guideless for construction of such economic cities.
Furthermore, Khazaen Engineering Team handed over land plot demarcations for the first investors in the City enabling them to start site drawings for their projects to obtain the necessary approvals from the concerned authorities as per the applicable technical procedures and conditions in place.
As well, Khazaen’s witnessed a very good response from investors willing to relocate or establish their new businesses within the City especially after the recent announcement of incentives package that included exemption from annual lease for the first year, 50% waiver on annual lease for the second and third years, 50% discount on service charges for a period of two years, and an exemption from registration and the land Krookie fees. The response, driven mainly by Khazaen’s strategic location and linkage to multi-modal transport options among other privileges, underpins the investors and business community trust in Khazaen’s future.
Khalid Al Balushi, CEO of Khazaen stated “Khazaen is gaining further momentum as a result of the progress made in the implementation of infrastructure works despite the challenges posed by COVID-19 pandemic and closure of many business activities. We proud to see our young Omani Engineers professionally supervising such mega project and Khazaen management commits itself to support the development of Omanis in different fields. Working closely with the main contractor, we were able to mitigate the impact of this situation by fabricating and sourcing materials from alternative vendors thus preventing the potential delays in the construction works”.
“We are happy to highlight the strong response from investors as a result of the on-ground progress and the incentives package we announced last month aimed to introduce the City to a wider group of local and foreign investors. This reflects the investors trust in Khazaen Economic City and its anticipated role in supporting the economic diversification plans of the Sultanate” Khazaen’s CEO added.
The development of this phase will provide the infrastructure and utilities needed to enable key anchor and national projects which will support the economy and attract foreign investments. Khazaen has signed lease agreements with local, regional and international investors to host their facilities in the newest integrated economic city in the Sultanate of Oman. Khazaen has also signed a number of key partnership agreements with utility companies such as Oman Broadband Company and Oman Towers Company to set up state-of-the-art telecom infrastructure. In addition, hosting Oman’s first dry port built in partnership between Marafi and private sector means that Khazaen is geared up for business and ready to welcome investors and benefit from import, export and custom clearance services with the anticipated commissioning of the dry port by end of this year.