Skip to content Skip to Search
Skip navigation

Salalah Free Zone in Oman attracts $1.9bn investment

By Pramod Kumar
Oman Salalah Free Zone Oman News Agency
Salalah Free Zone in Oman signed five new land lease agreements in the first half of 2023, taking the total number of deals to 127

Oman’s Salalah Free Zone, a subsidiary of Asyad Group, has secured investment worth OMR727 million ($1.9 billion) during the first half of 2023.

Five new land lease agreements were signed during the period, taking the total number of deals to 127 and valued at OMR4.5 billion, the state-run Oman News Agency reported.

The new agreements include a washing powder and detergents factory, ferrous alloys, wrapping paper and textile manufacturing plant, a factory for plastic packaging for health care purposes, a urea and ammonia production project and a data processing and cryptocurrency mining centre.

The free zone is keen to attract private investments in the technology sector and the digital economy, said Ali bin Muhammad Tabuk, CEO of the Salalah Free Zone Company.

The free zone this month reported the opening of a data hosting and cryptocurrency mining project by Exahertz.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Car, Transportation, Vehicle

Dubai Taxi to pay $43m dividend despite profit drop

Dubai Taxi Company, a subsidiary of the emirate’s transport regulator, has approved a dividend payout of AED159 million ($43 million) for the first half of 2024 despite a marginal 1 percent increase in net profit. Net earnings reached AED187.4 million in the first six months of the year, compared to AED186.3 million at the same […]