Muscat: The development of the highly anticipated Muscat International Airport Free Zone is set to begin with the signing of a significant concession agreement between the Public Authority for Special Economic Zones and Free Zones (Opaz) and Asyad Group.
Under this landmark agreement, Asyad, Oman's leading integrated logistics provider, will take on the responsibility of developing, managing, and operating the Sultanate of Oman's first airfreight-focused free zone.
The main objective of this agreement is to support the government's master plan and goals for the free zones and special economic zones sectors, while also strengthening their crucial role in driving economic diversification.
Spanning over 1.7 million square meters, the Muscat International Airport Free Zone will be developed in multiple phases. Asyad Group will be in charge of developing, operating, and managing Phase I, which covers an area of 370,000 square meters. The initial phase will include land and construction works, power and lighting installations, as well as a wide range of facilities and services.
The proposed free zone aims to establish itself as a worldwide center for logistics, maximizing benefits from groundbreaking solutions, generating value, providing top-notch transhipment services, and driving multimodal transport and logistics in Oman. With its extensive space, the free zone will leverage its advantageous position at Muscat International Airport to facilitate the establishment of diverse industries and empower businesses to enhance the value of imports before re-exporting and distributing them. Additionally, the free zone will offer state-of-the-art logistics infrastructure to bolster the rapidly growing express shipping and e-commerce sectors.
The free zone's advanced facilities and modern infrastructure will create an optimal business-friendly environment. This will enable light industry companies to enhance their growth and expand their reach in global markets. The seamless integration with Muscat International Airport, vibrant seaports, and land ports will provide efficient logistics support. The Muscat International Airport Free Zone offers a diverse range of investment solutions, such as logistics and commercial plots, fully equipped warehouses, high-quality office spaces, and various shipping options.
In addition to these benefits, the free zone will provide numerous appealing incentives. These include complete foreign ownership, no import or export duties, no minimum capital requirements, up to 15 years of exemption from income tax, and a centralized point of contact for all permits, licenses, and approvals. Furthermore, the agreement was endorsed by Eng. Ahmed Hassan Al Deeb, Deputy Chairman of Opaz, and Eng. Abdulrahman Salim Al Hatmi, CEO of Asyad Group.
