RO 12m Al Maskaan Village to launch at Khazaen Economic City in June

https://www.omanobserver.om/article/1149578/business/economy/ro-12m-al-maskaan-village-to-launch-at-khazaen-economic-city-in-june

OMAN DAILY OBSERVER / 14 FEB 2024

CONRAD PRABHU

MUSCAT: Phase 1 of Al Maskaan Village – an integrated housing complex for corporate employees – is set to launch at Khazaen Economic City by around June this year, offering high standard, yet cost-competitive, accommodation for the staff of local and international companies looking to set up operations in this promising investment hub.

The facility, set on an area of 55,000 sq metres, is designed to accommodate over 3,300 junior and senior-level corporate staff of companies operating in Khazaen, helping bolster the City’s overall value proposition to potential investors. A further expansion is envisioned in the coming years, aimed at adding new capacity to accommodate a further 3,500 staff, according to Ryan Maxwell, Business Development Manager.

Speaking to the Observer, Maxwell described the Village as a mixed-use development designed to offer investors and their respective staff a broad array of amenities to support their operations.

“Al Maskaan Village is a one-stop solution, offering comfort and convenience to investing companies and their staff. We offer fully serviced and furnished hotel type rooms with three meals, WiFi, housekeeping and laundry services. In addition, we can accommodate short stay guests for periods ranging from a few days to weeks and months. Furthermore, the Village incorporates office and retail spaces, event venues and lifestyle activities,” he stated.

Construction work on the Village, comprising residential blocks, an industrial kitchen, and dedicated areas for retail and office spaces, is at an advanced stage of completion at a site adjoining the new Central Market for Vegetables and Fruit. The project is being developed by Adrak Facilities and Services LLC, an affiliate of well-known Omani construction firm Al Adrak Trading & Contracting Co. LLC. Total investment in Phase 1 of the project is around RO 12 million.

Importantly, Al Maskaan Village will complement Khazaen’s expanding infrastructure, encompassing modern roads, connectivity with airports and seaports, and support services in the form of healthcare and hospitality.

The hub has pulled in over $1 billion in project investments as of end-2023 – a milestone that recently earned it the coveted ‘Fastest Growing Investment Destination’ accolade at the Dubai International Financial Awards.

In recent weeks, Khazaen has played host to a number of high-profile delegations led by senior Omani government officials. Visitors have included Sayyid Saud Hilal al Busaidi, Minister of State and Governor of Muscat; Badr al Maamari, Secretary General - Oman Tender Board; Abdullah bin Salem Al Salmi, Executive President of the Capital Market Authority (CMA); and members of the Municipal Council at Muscat Municipality. They also stopped over at Al Maskaan as part of their tour of Khazaen.