Oman’s Public Authority for Special Economic Zones and Free Zones (OPAZ) and Asyad Group have signed a concession agreement to initiate the development of the highly anticipated Muscat International Airport Free Zone. Under the landmark concession agreement, Asyad Group – Oman’s global integrated logistics provider – will develop, manage, and operate Oman’s first airfreight-focused free zone at Muscat International Airport, as reported by Oman News Agency. This agreement aims to help fulfill the government’s masterplan and objectives for the free zones and special economic zones sector, strengthening their vital role as drivers of economic diversification. The agreement was signed by Eng Ahmed Hassan al Deeb, Deputy Chairman of OPAZ, and Eng Abdulrahman Salim al Hatmi, CEO of Asyad Group. The 1.7mn sqm of Muscat International Airport Free Zone will be developed over multiple phases, with Asyad Group in charge of developing, operating, and managing the Phase 1 (370,000 sqm) of the project. The first package of the development will consist of land and construction works, power and lighting installations, and will feature a host of diverse facilities and services. The planned airport free zone is set to become a global hub for logistics, optimising returns from innovative solutions, creating value, offering market-leading transshipment services, and fuelling multimodal transport and logistics in Oman. In addition to its vast area, the free zone will capitalise on its strategic location at Muscat International Airport to facilitate the localisation of a variety of industries, enabling players to add value to imports before re-exporting and distributing them. The free zone will also offer world-class logistics facilities to support the burgeoning express shipping and e-commerce industries. Through its advanced facilities and state-of-the-art infrastructure, the free zone will provide the ideal business-friendly environment that light industry can leverage to boost their growth and access global markets through seamless logistics integration with Muscat International Airport, as well as Oman’s vibrant seaports and land ports. Muscat International Airport Free Zone will boast a wide range of tailored investment solutions, including logistics and commercial plots, ready-to-use warehouses, premium office spaces, and various shipping options. The free zone will also offer a multitude of attractive incentives, such as 100% 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, and approvals.

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