10 October 2019
Construction has started on Phase 1 of RFX Industrial Parks project covering 10,600 square metre (sqm) of leasable area at Sohar Port and Freezone, it was announced on Wednesday.
In April, Sohar Port and Freezone and RFX Industrial Parks had signed a development agreement for the 58-hectare project. RFX Industrial Parks is a joint venture between Australian real estate group RF Capital and Dubai-based commercial real estate developer PBP Holdings.
Sohar Port and Freezone said in a statement on Wednesday that the project would comprise up to 290,000 sqm of leasable space offering various logistics and light industrial size formats, including Box and Flex-log formats.
"Further phases will be developed based on a combination of pre-lease commitments and market demand," the statement said.
The project value and timelines weren't disclosed.
Omar Mahmood Al Mahrizi, CEO of Sohar Freezone and Deputy CEO of Sohar Port said in the statement that the project will enable existing and new tenants to lease instead of having to build their own warehouses or light industrial units and position Sohar Freezone as a distribution hub for both local and regional markets.
(Writing by Madhura Deulgaonkar; Editing by Anoop Menon)
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