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Asyad signs deal with Oman Investment Corporation to set up Khazaen Economic City

During the first day of The BIG Show (Builders International Gathering) and Oman Real Estate Exhibition and Conference at the Oman Convention and Exhibition Centre in the presence of ministers and senior government officials, an agreement was signed by Dr Ahmed bin Mohammed Al Futaisi, Minister of Transport and Communications, who is also Chairman of ASYAD Group, the holding company of the Omani government’s investments in seaports, free zones, cargo terminals, logistics parks and other transport and logistics infrastructure in the Sultanate. Khazaen, owned 100 per cent by the government, is a subsidiary of ASYAD Group.
Spread over a total area of 51mn sqm and located in Barka, the Khazaen Economic City project will have a dry port along with residential, commercial, and industrial zones. The proposed city will also have a business hub, and it would be developed in several phases to become an integrated city. The project will be developed by Oman Investment Corporation in a joint venture with Saudi partner Mohammed Ali Al Swailem Group, under the auspices of Asyad Group.

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