Oman has signed 10 agreements and memoranda of understanding to establish new projects with an investment value of RO2.9 billion in the Duqm Special Economic Zone, said an Oman News Agency post in X platform.

The agreements, signed by the Public Authority for Special Economic Zones and Free Zones, cover the construction of a power generation station, alongside industrial facilities for the production of ammonia, electric battery components, and chemical materials, in addition to industrial, tourism and residential complexes, it said.

The agreements also ⁠include a deal for the implementation of downstream phases 2 ​and 3 ​of ⁠the Indian renewable energy company ​ACME Group's green ​hydrogen ⁠project in Duqm at investments worth $4.2 billion.

Meanwhile, the Special Economic Zone at Duqm on Monday celebrated the inauguration of the first phase of the "Maysan Square Duqm - Residence" project, which includes 104 residential units alongside 130 diverse commercial units that attracted investors from 22 countries, with an investment value estimated at approximately RO10 million.

The inauguration ceremony was held under the auspices of Qais Mohammed Al Yousef, Chairman of the Public Authority for Special Economic Zones and Free Zones.

Sadiq Jaffer, Chairman of the Board of Directors and CEO of Maysan Properties Company, stated that this project is the first integrated business district in the Special Economic Zone at Duqm, spanning a total area of 122,000 sq m. He added that it is being implemented across several phases to include, upon completion, 20 buildings distributed over the residential, commercial, hospitality, and retail sectors, comprising 424 full-service residential units.

He noted that the project represents a qualitative leap in the real estate development sector, being the first integrated business district that combines housing, commerce, hospitality, and business within a modern urban environment designed according to the highest international standards.  - TradeArabia News Service