04 March 2015
Duqm - H.E. Yahyabin Said Al Jabri, the Chairman of Special Economic Zone Authority at A'Duqm (SEZAD) visited the Duqm Permanent Accommodation for Contractors (PAC) project, a joint initiative by Duqm Special Economic Zone Authority and Renaissance Services SAOG.

H. E.Yahya along with other dignitaries toured the site which first broke ground on 26 March 2014 and on completion will provide a comprehensive accommodation solution for employees in various job categories. The employees residing here will be the key human resources integral to the success of the Duqm Special Economic Zone, working on landmark projects such as the oil refinery, port,dry dock, and international airport amongst others. Renaissance Services SAOG is building safe, attractive and modern staff residences for the comfort and convenience of workers which will include accommodation, a mosque, medical clinics and retail outlets and will be able to accommodate more than 16,000 employees. Duqm PAC's permanent accommodation, offers higher quality than traditional temporary type at competitive costs through economies of scale.

Renaissance has formed an SPV company to own and develop the project, Renaissance Duqm Holding Company SAOC. Renaissance holds 51.9% shares with the balance 48.1% held by Royal Court Affairs, Ministry of Defence Pension Fund, Al Khonji Development and Bank Muscat. The total investment for the project is estimated at US$195 million.

A spokesman for Renaissance said "Through the Duqm PAC Project  Oman, and SEZAD, is showing the world how it is possible to provide world-class accommodation facilities for workforces, at unbeatable competitive cost. We believe these facilities shall provide dignified living for our expatriate workforces, and at the same time, provide quality affordable accommodation to attract Omani employees to the great job opportunities that will arise in Duqm."

The Duqm PAC will be a key enabler and infrastructure for all investors and projects in Duqm who can be assured that employees are taken care of to international standards so that they in turn can focus on their core activities.

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© Press Release 2015