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Oman’s logistics solutions provider Asyad Group has broken ground on the first phase of the Muscat Airport Freezone (MAFZ), according to a statement. The freezone’s strategic location adjacent to Muscat International Airport will offer seamless integration within Asyad’s extensive logistics network, linking land and sea gateways, the dry port, and other freezones. The investment ticket and timeline for the project have not been disclosed.
What we know: The project’s first phase includes land preparation, internal roads, and public services facilities, the statement notes. MAFZ will be freight-focused, set to boost exports and imports, specially for pharma, perishables, and e-commerce product shipments.
What they said: “As Oman’s first freezone of its kind, this strategic project highlights our commitment to private sector partnerships in building a leading air logistics hub. It will drive economic growth and unlock limitless opportunities for both local and global companies in the logistics sector,” MAFZ Director Faisal Ali Al Balushi said in the statement.
Background: Asyad inked an agreement with Opaz for the development of the MAFZ back in December. The freezone will span over 1.7 mn sqm, with phase one to be spread over 370k sqm of the total zone. MAFZ will offer 100% foreign ownership, zero import and export duties, no minimum capital requirements and up to 15 years of income tax exemption. The group issued a tender back in March for infrastructure development of phase 1 of the project.
IN OTHER ASYAD NEWS-
Asyad and Uzbekistan inked a cooperation agreement to boost cooperation and trade through new projects in logistics, textiles, agriculture, real estate, and tourism, Uz Daily reported on Friday. The agreement was signed during a meeting between Asyad’s chairman Nasser Suleiman Al Harthi and Uzbekistan’s Investments, Industry and Trade Minister Laziz Kudratov to discuss further collaboration in these fields.
