26 pacts worth RO6.5mn inked to stimulate the economy

26 pacts worth RO6.5mn inked to stimulate the economy

The Ministry of Housing and Urban Planning (MoHUP) signed 26 usufruct contracts worth over RO6.5mn on Sunday.Muscat – The Ministry of Housing and Urban Planning (MoHUP) signed 26 usufruct contracts worth over RO6.5mn on Sunday.

The agreements were signed by Hamad Ali al Nazwani, Undersecretary for Housing in the Ministry of Housing and Urban Planning, and representatives of investing companies and establishments, in the presence of the Undersecretary for Agriculture in the Ministry of Agriculture, Fisheries and Water Resources and the Chairperson of Authority for Small and Medium Enterprises Development.

The signing of the usufruct agreements for different governorates reflects MoHUP’s efforts towards optimal investment in government land, enhancing economic returns, maximising revenue from government land, meeting needs in various governorates and providing diverse investment opportunities.

The 26 contracts cover various sectors – commercial, industrial, agricultural and educational – in the governorates of Muscat, North Batinah, South Batinah, Buraimi, Dakhliyah and North Sharqiyah.

The wilayats of Al Sinanah and Mahadh in Buraimi witnessed the highest number of signed agreements – 13 – in the agricultural and livestock sector. The projects will be set up on a total area of 755,000sqm with an investment of RO1.7mn.

Three usufruct contracts were signed for Muscat governorate – for