Asyad inks concession agreement for Muscat International Airport Freezone:Omani logistics provider Asyad Group has inked a concession agreement with Oman’s Public Authority for Special Economic Zones and Freezones (OPAZ) to develop, manage and operate Muscat International Airport Freezone (MIAFZ), Oman News Agency (ONA) reported. The agreement kicks off developments at the freezone, which is the sultanate’s first air freight-focused zone. The agreement’s financials and timeline were not disclosed.

The details:The 1.7 mn sqm freezone will be developed over multiple phases, with the first phase of the project seeing Asyad taking charge of developing, operating, and managing a 370k sqm area. The first phase will include land and construction works, power and lighting installations, in addition to a range of facilities and services, ONA wrote.

What's in it for firms moving in? The freezone will provide tenants with logistics and commercial plots, warehouses, office spaces, and various shipping options. Incentives include 100% foreign ownership, zero import and export duties, no minimum capital requirements, up to 15 years of income tax exemption, as well as a single window for licensing, permits, and approvals.

The freezone is planned to be a global logistics hub with localized industries: The zone is set to boost transshipment volumes, driving growth in Oman’s multimodal transport and logistics sectors.The freezone will also supply logistics facilities to support e-commerce and express shipping, and will streamline logistics integration with Muscat International Airport, as well as Oman’s seaports and land ports.

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