Oman's Tatweer Duqm: Sezad asset portfolio reaches over $3bln
Duqm: The Oman Company for the Development of the Special Economic Zone at Duqm (Tatweer Duqm) has announced that the asset portfolio it manages in the Special Economic Zone at Duqm (Sezad) rose to around OMR1.2 billion by the end of last year.
Eng Abdullah bin Sulaiman Al Wahaibi, CEO of Tatweer Duqm, stated that the company, as the executive and investment arm of the Public Authority for Special Economic Zones and Free Zones (Opaz), is working to enhance the investment environment in the Special Economic Zone at Duqm by leading strategic and high-quality infrastructure projects that have been implemented in recent years.
He noted that Tatweer, established in 2014, focuses on stimulating the business and investment environment in Duqm through various initiatives, guided by Oman Vision 2040 and the Sezad strategy for the period 2025–2030. This strategy is built around five main objectives: localising investments, efficient operation and management, developing a balanced lifestyle, attracting tourists and partners, and achieving institutional excellence.
In a press statement, he explained that, in line with its commitment to service quality and asset sustainability according to international technical standards, the company, through its Omani technical staff, manages a portfolio of public assets and facilities in the Sezad worth around OMR1.2 billion. These include wastewater treatment plants, major and secondary roads, public facilities, dams, water drainage channels, parks, and administrative buildings.
The company's asset management scope includes operation and maintenance, as well as oversight of sustainability and coordination with operators of key projects such as Port of Duqm, Duqm Airport, the dry dock, the government berth, and other developments.
He affirmed that the company has adopted an integrated asset management methodology aligned with global best practices, supported by modern technologies to ensure readiness, continuity, increased efficiency, cost reduction, and prolonged asset lifespan.
Al Wahibi stated that over the past years, the company has overseen the execution of numerous strategic projects in the Special Economic Zone at Duqm, most notably the completion of various packages for Duqm Port, the implementation of utility facilities and water and wastewater networks, as well as the management of both main and secondary road infrastructure projects in the zone.
He explained that Tatweer has successfully implemented more than 46 projects over the past five years. In addition, its internal management of seven projects has saved over OMR12 million, reflecting the company's technical expertise, the competency of its Omani workforce, operational efficiency, and adherence to robust governance standards.
Al Wahibi noted that the total cost of the road projects overseen by the company amounts to approximately OMR210.4 million. Last year witnessed the completion of several phases of the dualisation project for National Road No. 32 (Sultan Said bin Taimur Road in Duqm). The opening of these phases provided high-standard infrastructure attractive to investment, incorporating modern technologies.
Their completion has improved connectivity and facilitated traffic flow in the zone, particularly in light of growing investment activity.
He added that this year is expected to see the completion of the internal road network in the Saay Commercial District, water drainage systems, the district's wastewater network, the second phase of the dualisation of National Road No. 32, and the dualisation of the road from Duqm Airport to Ras Markaz.
Al Wahibi also highlighted Tatweer's role in enabling investment and maximising returns in the Special Economic Zone at Duqm. He said the company supports the business environment through strategic partnerships targeting companies and investment funds, focusing on minority-share joint investments in economically sustainable ventures aligned with Sezad's overarching goals.
As a local minority shareholder, Tatweer offers on-ground support for project developers across various sectors. This includes assistance in site selection based on sector needs, company registration, obtaining approvals and permits, and guiding investors in securing financing from local banks and funding institutions. He emphasised that the company is keen to attract local financing houses to contribute through equity or quasi-debt instruments.
Regarding key projects established by the company, Al Wahibi revealed that Tatweer holds a 15 per cent stake in the logistics company 'Imdad Logistics,' formed to enhance logistics services in Duqm. This has become one of the success stories in the Special Economic Zone.
Additionally, Tatweer is one of the investors, alongside a local and an international partner, in Duqm Materials Market, a commercial and logistics project supporting supply chains. The market, in which Tatweer also owns a 15 per cent stake, was inaugurated last year and has achieved a high occupancy rate by global, regional and local companies.
He praised the company's investment successes, noting that Tatweer recorded its first profitable exit through the sale of its stake in Duqm Quarries, achieving returns exceeding RO 1.8 million. He confirmed the company's intent to replicate such successes by expanding its investments in promising logistics and industrial sectors, through a business model that balances profitability with support for national development.
Tatweer plans to implement several projects this year aimed at enhancing investment in the Special Economic Zone at Duqm, both by executing new developments and managing existing assets or entering new investment ventures. Key planned projects include the construction of a central fish market in Duqm and the launch of an abalone farming facility adhering to aquaculture standards. These initiatives aim to develop the fisheries sector and increase its economic returns. Additional planned developments include tourism, real estate, entertainment, retail, commercial services, and green energy projects. The company also intends to develop an integrated residential complex to enhance quality of life in Duqm, along with other projects currently under study with investors.
Al Wahibi affirmed that by adopting a project and asset management model based on performance-based service fees, the company has transitioned from a cost-recovery entity to a flexible and sustainable business model driven by outcomes and operational excellence.
Tatweer aims to grow its revenues by expanding contracts and offering its services to new investors in Duqm, with a focus on building a smart and sustainable city and positioning Duqm as a regional hub for integrated investment and living, based on efficiency, innovation, and partnership.
© Muscat Media Group Provided by SyndiGate Media Inc. (Syndigate.info).
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