Sadeen Group, Madayn sign $120m Oman construction plan

MUSCAT – Sadeen Group and Shumookh Investment and Services, the investment arm of the Public Establishment for Industrial Estates (Madayn), have signed an agreement to implement a number of development projects in the industrial cities operated by Madayn with an estimated value of around US$120 million.

The engineering, procurement, construction, and finance (EPCF) deal will see the building of offices and housing in three industrial Omani estates in Muscat, namely tech start-up incubator Knowledge Oasis Muscat, along with Rusayl, and Samail, across areas of land covering more than 16ha, or 164,000 sq.m.

The agreement was signed by Eng. Hani Salah, Chairman of Sadeen Group and Hilal bin Hamad Al Hasani, Chairman of Shumookh Investment and Services.

Commenting on the deal, Eng. Musallam Al Hudaifi, Chief Executive Officer of Shumookh Investment, said that this comes to meet the development requirements of the industrial cities that pertain to Madayn and provide all necessary services for the investors.

Madayn established Shumookh Investment in 2010 to develop infrastructure projects and encourage investments in Madayn’s industrial cities.

The vision of Shumookh is to develop globally competitive industrial infrastructure in the industrial estates run by Madayn and create the best environment for the growth of industries in Oman through the attraction of strategic partnerships to invest in and implement diverse infrastructure development projects in the industrial cities.