MUSCAT -- Cluttons, a key player in Oman's real estate market, yesterday announced the first phase of the upcoming development of high quality warehousing and light industrial units for the rental market in Freezone Sohar. This development will cater specifically to the needs of free zone companies requiring high quality warehousing and light industrial facilities on a leasehold basis and will be completed by December, Cluttons said in a press statement. The development layout and units have been designed after extensive market research and analysis to determine tenant requirements and benchmark against similar, high quality warehousing developments both regionally and internationally.
The developer is Al Siraj Logistics (FZC), which has worked closely with the free zone authority on this project. Cluttons, the real estate specialist that has a dedicated regional light industrial and warehousing team, has been appointed as the sole marketing and leasing agent for the development. The layout of the development and design of the units are to an international standard, and allow for both business flexibility and operational efficiency. The free zone is part of 'Gateway Sohar' which consists of the established industrial port, Sohar industrial estate, the developing free zone, Sohar Airport and the proposed rail terminal linking into the GCC rail network. In addition to Freezone Sohar's locational advantages, businesses within the free zone enjoy benefits such as competitive costs and ease of doing business, 100 per cent foreign company ownership, no customs duties on imports, no restrictions on currencies or repatriation of capital/profits, no restrictions on sales to the local market, and a corporate tax holiday for up to 25 years.
"The Al Siraj Logistics development is an exciting step forward for the light industrial and logistics sector in Oman, and provides much needed facilities for companies looking to take advantage of being located in Freezone Sohar," comments Matthew Wright, Head of Logistics & Industrial for Cluttons in Oman. "There is an evident and strong demand for this type of unit that has not been catered for until now. Cluttons is delighted to have been appointed as sole leasing agents for this high quality development which is considered a new benchmark for the Oman market."
© Oman Daily Observer 2013
