Oman's Madayn records solid growth; investments up 208%

During these 10 years, Madayn has achieved a growth rate of 309% in the number of projects, 208% in the volume of investments, and 274% in the number of workforce, said its top official.

 

“During the 2006-2019 period, Madayn has achieved an increase in the total income by 871% and the net profit doubled more than 10 times touching over 1055%, stated its CEO Hilal bin Hamad Al Hasani.

 

Moreover, during the period 2016-2020, Madayn has managed to elevate the percentage of capital expenditure financing to 68% by 2019, while the initial indicators of 2021 results show that Madayn is approaching 80% in this regard,” Al Hasani pointed out, stressing that Madayn is financing its operating expenses by 100% since 2006.

 

Al Hasani highlighted that the sultanate’s Gross Domestic Product (GDP) in 2019 amounted to RO 29,349,500,000 according to the monthly statistical bulletin released by the National Centre for Statistics and Information (NCSI).

 

“The gross output of the companies investing in Madayn in 2019 amounted to RO 2,805,884,474.15, and the value added of the producing companies in Madayn stood at RO 1,075,382,932.55,” Al Hasani stated.

 

During the same period, the total value of exports in all the industrial cities reached RO 1,361,373,788.51; while the total value of imports touched RO 1,087,477,031.33. The latter constitutes RO 776,280,120.50 of the value of imported raw materials and RO 311,196,910.83 of the value of local raw materials).

 

Al Hasani announced the launch of ‘Madayn Investment Complexes’ project, which will present an ideal opportunity for local and foreign companies to invest in the industrial sector and associated complementary sectors.

 

“These companies shall develop specialised investment complexes through real estate plans, and the designs shall get approved by Madayn. The developing companies will then promote the industrial and investment units with the facilities for the local and foreign companies to buy or rent these units for immediate operation, following the installation of production lines of the tenant or owner,” Al Hasani said.

 

Development opportunities will be announced for 10 investment complexes in Suhar, Al Buraimi, Samail, and Sur industrial cities in a variety of sectors. The activities of the investment complexes will represent a variety of sectors including multi industries, food, plastic, and logistics industries.

 

“These investment complexes shall support the industrial integration between small and large factories, and contribute to encouraging local and foreign investments towards the complementary industries. This project shall also offer an opportunity for the SMEs to enter the industrial sector through these investment complexes. The SMEs will be able to buy or lease real estate units with small areas that are compatible with their operational and production capacity,” Al Hasani stated.