By Bernd Debusmann Jr
A large part of the investment is expected to come from abroad, according to the CEO of Muscat Airport City
The recently announced Muscat Airport City could attract investments of over $1.5 billion over the next 20 years, according to officials.
Part of the Sultanate’s National Aviation Strategy 2030, Muscat Airport City will be established in several phases, according to Oman Aviation Group.
“The plan aims to achieve the highest levels of utilisation of the new airport’s high capacity and the increasing air traffic,” Oman Aviation Group said. “It also takes advantage of the land area surrounding the airport to create a stimulating environment for the establishment of aviation-related projects.”
Speaking to reporters last week, Oman Aviation Group CEO Mustafa Al Hinai said as that “as per the estimates, the total investment in all the phases [of Muscat Airport City] would easily exceed $1.5 billion, which will span over a period of years.”
He added that he believes a large part of the investment will come from outside Oman.
“The proposed city is going to be an important project for the country, and will give a boost to a number of activities associated with the air travel, be it logistics, aviation and hospitality,” Al Hinai was quoted as saying in the Muscat Daily.
Additionally, Hinai said that the group will serve as a facilitator for attracting private investment, so that the project will not be dependent on government investment.
Plans for Muscat Airport City call for five distinct ‘district’ phases, with the first two being focused on establishing a corridor for logistics and other business activities.
Subsequent phases will see the creation of a duty free zone and zones dedicated to the hospitality and aviation-related industry sectors.