UAE Investor Seals $350 Million Deal for Oman Tech City

UAE Investor Seals $350 Million Deal for Oman Tech City

Published July 7th, 2020 - 06:30 GMT











Highlights





Spread over a 500,000-sq-m area, the Tech City will feature a Data Park, technology academy and other support facilities.







Oman's Salalah Free Zone has signed an agreement with a UAE investor for the establishment of a Technology City at an investment of around $350 million, reported Oman Observer.

Spread over a 500,000-sq-m area, the Tech City will feature a Data Park, technology academy and other support facilities.

It is the latest in a string of recent investments that have underscored the Salalah Free Zone's robust investment appeal, stated the report, citing a top official.

The MoU signed to this effect envisages a Technology City for innovation and fourth-generation technologies, remarked its CEO Ali bin Mohammed Tabouk.

"We have inked seven investment agreements during the first half, thus taking the total number of signed projects till date in Salalah Free Zone (SFZ) to 88, representing around RO3.3 billion ($8.7 billion) in total investments, with the potential to create more than 8,000 direct jobs,“ noted Tabouk.

Among the recent signings is a contract for the construction of Phase Two of Al Mazaya Logistics Station, which offers 134,000 sq m of storage area and