The pillars of Oman Vision 2040 align with the strengths of Al Sharqia North Governorate in the fields of information technology and artificial intelligence, focusing on enhancing awareness and interest in space science and other technologies, and investing in these vital sectors. The recent hosting of the NASA Space Applications Hackathon in the governorate is a testament to the establishment of these pillars within the national vision. Additionally, this sector is experiencing competition on various fronts.
centre in applied technology and advanced engineering, as well as localising artificial intelligence systems to support the goals and objectives that strengthen and grow the governorate’s economy, supported by a digital economy based on technology and innovation. These programmes offer opportunities to improve productivity across all sectors.
Several development projects have been approved for the governorate’s districts in 2023, with a total value exceeding OMR3 million. Some projects have been completed, while others are still in progress.
In the industrial sector, investment opportunities are evident in Al Mudhaibi Industrial City, overseen by the Public Authority for Industrial Estates (Madain), covering an area of 9 million square metres with an estimated cost of OMR15 million. This city targets the mining sector and its industries, warehouses and logistics services, construction materials and related sectors, light and medium industries of various types, food products and processing industries, and industrial workshop projects.
The tourism sector is a major area of investment in Al Sharqia North Governorate. Tourism indicators in the governorate show that hotel room occupancy rates have ranged between 60% and 90% at times. Additionally, the number of licensed hotel establishments has reached 47, with a total of 1,044 hotel rooms. The Ministry of Heritage and Tourism aims to launch a new product called “Family Farms”, which will provide limited spaces and temporary licences for a specified period.
Key indicators from the investment survey in the tourism sector in Al Sharqia North Governorate reveal that 33 investment projects were included, with the total investment value of completed projects amounting to approximately OMR12.095 million.
The governorate also includes several projects for rural women, such as the honeybee project funded by Dar Al Atta Association in collaboration with the Ministry of Agriculture, Fisheries, and Water Resources, benefiting six women from Al Sharqia North Governorate.
In the real estate sector, the national initiative for integrated residential neighbourhoods, “Surooh”, is offering investment opportunities in residential units and lands in two locations within Al Sharqia North Governorate. The first is the Al Yahmadi site in Ibra with an area of 245,000 square metres, and the second is the Surooh plans site in Al Sayh Al Namaa area in Al Mudhaibi with an area of 200,000 square metres.
In the real estate sector, the national initiative for integrated residential neighbourhoods, “Surooh”, is offering investment opportunities in residential units and lands in two locations within Al Sharqia North Governorate. The first is the Al Yahmadi site in Ibra with an area of 245,000 square metres, and the second is the Surooh plans site in Al Sayh Al Namaa area in Al Mudhaibi with an area of 200,000 square metres.
The Ministry of Agriculture, Fisheries, and Water Resources confirmed that the total agricultural production in Al Sharqia North Governorate for 2022 reached 243,084 productive agricultural units, classified into 1,677 greenhouses, 20 date processing units, 18 private nurseries, 165 acres of model fields, seven veterinary clinics, 419,000 heads of livestock, and 168 tonnes of honey production.
Regarding food security investment projects, there are grape farm projects as a relative value addition, along with date palm farms of specific varieties such as Mabrouk and Fard.
The major investment opportunities overseen by Al Sharqia North Governorate include the Central Resource Market project in the Wilayat of Sanaa to stimulate commercial activity between the governorates of Oman, a public park project in the Wilayat of Dema and Al Taiyyin expected to feature chalets, areas for electric and water games, and the Integrated Station (Sahab Station) in the Wilayat of Ibra, which will include essential facilities for road users.
The role of the Development Bank is prominent in financing these investment opportunities in Al Sharqia North Governorate through development and operational loans targeted at small and medium-sized enterprises and corporate projects. These financing services contribute to economic diversification, job creation, export growth, and industrial localisation, increasing the contribution of small and medium-sized enterprises to GDP. The bank’s lending portfolio in Al Sharqia North Governorate has seen an increase over the past decade, rising from OMR6 million in 2013 to OMR13 million by the end of 2023. The lending portfolio is expected to grow according to the operational plan for Al Sharqia North Governorate, reaching OMR18 million by 2025.