Sandan to develop Oman's first integrated light industries park at a cost of RO100mn

2/9/2016 7:09:45 AM

(MENAFN- Muscat Daily) Muscat-

Sandan Development a newly formed company has announced plans to develop Oman's first integrated light industries park at an estimated cost of RO100mn.

The details of the project were revealed at a press conference at Grand Hyatt Muscat on Monday. The event was attended by Saleem al Balushi assistant director general of the directorate general of real estate development at the Ministry of Housing.

Said al Rashdi CEO of Sandan Development said the project will cover over 250000 sqm and will be located 5km from the Mabela exit of the Muscat Expressway.

He said the project will host 2200 workshops and exhibition halls for building materials and automobiles 400 offices and 1800 residential units for workers. Facilities such as hypermarkets restaurants hospitals mosques etc would also be made available.

Rashdi said a group of Omani private investors are behind the project. 'The financing of the project is probably not going to be from banks. We expect to have enough cash flow to cater to the project.'

Project drawings have been approved by the Ministry of Housing the Royal Oman Police and the Public Authority for Civil Defence (Pacda).

According to Rashdi Sandan Development is expected to float the tender for construction in April and work will start by the middle of this year. The project is scheduled to be completed in two years by mid-2018.

He said a comprehensive feasibility study for the project has been assigned to PwC and the technical feasibility study to Huller a leading German company.

The front line of the project is planned to host 50 auto showrooms with a capacity of over 1000 vehicles - supported by workshops necessary for the industry. There will be more than 1200 workshops offering repair spare parts and other automotive requirements.

The next division of the park will host building materials showrooms workshops for tradesmen such as carpenters blacksmiths and aluminium and ceramic shops. The third division will host 400 office units for companies which function in the park. The project will include 1800 residential units for workers as more than 10000 people are expected to live within the area.

'We are targeting light industries and expect at least 10000 people to work and stay there. We expect between 80009000 jobs to be created by this project' Rashdi said.

All the units of the project - workshops offices showrooms and residential units - will be offered for direct sale; and buyers have the opportunity to pay in interest-free instalments extending for 18 months.

Located between the Muscat and Batinah expressways with three front lines and ten exits the project is perfectly located for customers coming from Muscat or Batinah and to ensure the smooth flow of traffic Rashdi added.

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.