Work set to start on Oman’s first airport free zone

Work set to start on Oman’s first airport free zone

Asyad Group, Oman’s national logistics company, has signed a concession agreement with the Public Authority for Special Economic Zones and Free Zones (Opaz) to develop the Muscat International Airport Free Zone. Asyad Group will develop, manage and operate the Sultanate’s first airfreight-focused free zone, state-run Oman News Agency reported. The 1.7 million sq m of […]Asyad Group, Oman’s national logistics company, has signed a concession agreement with the Public Authority for Special Economic Zones and Free Zones (Opaz) to develop the Muscat International Airport Free Zone.

Asyad Group will develop, manage and operate the Sultanate’s first airfreight-focused free zone, state-run Oman News Agency reported.

The 1.7 million sq m of the Muscat International Airport Free Zone will be developed over multiple phases. The project’s first phase will be 370,000 sq m.

The first package includes land and construction works, power and lighting installations, and various facilities and services.

The free zone will offer logistics facilities to support the burgeoning express shipping and e-commerce industries.

Incentives being offered to tenants at the free zone include 100 percent foreign ownership, zero import and export duties, no minimum capital requirements, up to 15 years of income tax exemption, and a single point of contact for all permits, licenses