Muscat: Sandan Development revealed details of a first-of-its-kind project to establish first integrated light industries city in the Sultanate of Oman.
The project is scheduled to start in June 2016 and expected to be completed by mid-2018, reported Times of Oman.
CEO of Sandan, Said bin Nasser bin Salim al-Rashdi, said that the project will be constructed over 250,000 square metre area, 5km-away from Al Ma'abailah exit at Muscat Express Way.
''The city will host 2200 workshops and exhibitions for building materials and automotives, 400 offices and 1800 residential units for workers,” Oman News Agency quoted al-Rashdi as saying.
All the units of the project- workshops, offices, tradeshows and residential units- will be offered for direct sale where buyers will have the opportunity to pay in interest-free installments extending for 18 months.
Al Rashdi said that private investors have invested in the project and Sandan will be the developer of the project.
At the moment, there is no foreign investor in the project, Times of Oman quoted al-Rashdi as saying.
He added that Sandan has been established to deliver this specific project and may get involved in developing similar projects in other areas of Oman in the future.
According to Sandan CEO, at least 8,000 jobs are to be accommodated after the completion of the project.