The Authority has distributed various projects under different financing programs, such as the In-Country Value Programme, Industrial Projects Financing Programme, Service Projects, Working Capital Financing Programme, Incubated Institutions and Business Accelerators Financing Programme, Handicraft Products Financing Programme, Home and Production Works, Street Vendor Works, mobile commercial activities, contract financing program, and financing for small and medium enterprises awarded contracts by companies affiliated with Oman Investment Authority.

Out of the 244 projects, 161 were industrial, commercial, and service projects, and 44 were contract projects.

The contract financing program specializes in financing contracts (tenders or purchases) based on the work award letter from the awarding entity.

Meanwhile, 29 projects were working capital financing projects, which cover the daily needs of an organization’s operational expenses.

This includes costs such as purchasing raw materials, semi-manufactured goods, merchandise, warehouses, spare parts, salaries and wages, transportation expenses, and other costs necessary to maintain the continuity of the production process from purchasing raw materials to selling the product.

Most of the funded projects were in Muscat Governorate, with 108 projects worth more than OMR 10 million.

This was followed by North Al Batinah Governorate, which financed 31 projects worth more than OMR 3 million, and South Al Batinah Governorate, which financed 19 projects with a total value exceeding OMR 1 million.

The Dhofar Governorate had 19 funded SME projects, South Al Sharqiyah Governorate had 15, Al Dhahirah Governorate had 18, Al Dakhiliyah Governorate had 13, North Al Sharqiyah, Al Wusta, and Buraimi Governorates had six projects each, and Musandam Governorate had three projects.

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Muscat International Airport has been awarded the title of the best airport in the customer experience category for the Middle East region in 2023, for the 15-20 million passengers category. 

Meanwhile, Salalah Airport has won the award for the best airport in the Middle East region in customer experience for 2023, for the two million passengers category. 

These awards were presented by the Airports Council International (ACI) in partnership with Amadeus, a leading technology company providing software solutions for the global travel and tourism industry. 

Salalah Airport also won several other awards, including the award for the most dedicated airport employees in the Middle East in all categories, the award for the smoothest airport procedures in the Middle East for all categories, the award for the best pleasant airports in the Middle East, and the award for the best airports in the level of cleanliness, for all categories in the Middle East. The ACI’s performance measurement program is considered one of the most reliable programs in the world and relies on directly measuring the experience of airport customers on the same day of travel. 

This achievement reflects the efforts of Oman Airports to integrate with the endeavors being made by the government of the Sultanate of Oman under the leadership of His Majesty Sultan Haitham bin Tarik for the air transport sector. 

This is one of the goals of Oman Vision 2040 and is in light of the unlimited support provided over the past years in strengthening the infrastructure of air transportation to and from the Sultanate of Oman, given its strategic location among the countries of the world. 

Muscat International Airport and Salalah Airport’s achievement comes after an evaluation by travelers of the best airports in terms of customer experience within the Airport Service Quality (ASQ) awards. This year, the program highlights the number of airports participating in it, which exceeds 400 airports in the world. 

The same program is characterized by its unwavering commitment to a rigorous and scientific methodology based on direct research conducted through opinion polls administered directly to travelers at the airport, capturing their satisfaction levels on the same day of travel. 

ASQ surveys cover more than 30 performance indicators across key elements of the passenger airport experience, giving the most complete picture of the passenger experience journey. 

This methodology is known for its robustness, allowing for meaningful statistical inference and providing unparalleled insights into the passenger experience. 

More on Visions:

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The Trump Villas at AIDA will be situated within the Trump International Golf Club, offering residents an elite membership to the club and sea views from an elevation of over 130 meters.

The project will provide a range of world-class amenities, including a clubhouse, expansive parks, and recreational spaces.

Property owners will receive a Trump-branded golf cart.

This development in Oman is not the only one bearing the Trump name in the Gulf; he has also put his name on a gated community in DAMAC Hills in Dubai through a deal with Emirati billionaire Hussain Sajwani.

AIDA is a development located in Muscat, near five UNESCO world heritage destinations, and surrounded by sharp cliffs, curvaceous valleys, hilltops, and the Arabian Gulf.

The site will also host five-star hotels, including Ritz Carlton, Jumeirah Hotels, and Shangri-La. Dar Global has recently listed on the main market of the London Stock Exchange.

Donald Trump’s presence in the Gulf:

Former US President Donald Trump has previously invested in real estate projects in the Gulf, particularly in Dubai, through a partnership with Damac Group in 2015.

Trump’s business presence in the oil-rich Gulf region has now expanded with a new project in Oman, despite ongoing scrutiny over potential conflicts of interest.

Challenges within MENA for Donald Trump:

There have been accusations of conflicts of interest regarding Trump’s involvement in real estate developments across the Gulf, particularly due to his close relationships with countries like Saudi Arabia and the UAE during his presidency according to OmanMoments.

Despite his promise not to initiate new foreign deals during his time in office, his businesses continued to benefit from pre-existing agreements in nations such as Turkey, the Philippines, and India.

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The Sultanate of Oman generated 6.6% more electricity with 41,591.2 gigawatts per hour in November 2023 compared to 39,030.5 gigawatts per hour in the same period of 2022.

According to statistics released by the National Centre for Statistics and Information (NCSI), the governorates of North and South Al Batinah and Al Dhahirah in Oman collectively produced 26,542 gigawatts per hour of electricity. Additionally, the Al Dakhiliyah Governorate saw the highest increase in electricity generation, with a growth of 96.9% and reaching 164.4 gigawatts per hour.

Total electricity generation in Muscat Governorate increased by 55.2%, reaching 560.3 GWh. Dhofar Governorate saw a 13.5% rise, reaching 4,362.1 GWh.

The total electricity generation in the North and South Al Sharqiyah Governorates has increased by 8.5 percent, reaching 9,321.1 gigawatts per hour. However, in the Al Wusta Governorate, the total electricity generation has decreased by 28.1 percent, reaching 187.4 gigawatts per hour. On the other hand, in the Musandam Governorate, the total electricity generation has increased by 6.2 percent, recording 453.9 gigawatts per hour.

According to the statistics, net electricity generation in Oman increased by 6.8% to reach 40,344.6 GWh by the end of November 2023.

On the other hand, statistics indicate that the total water production in the Sultanate of Oman rose by 1.8 percent, reaching 478.182 million cubic meters by the end of November 2023. This is compared to 469.899 million cubic meters produced during the same period in 2022.

Oman’s Vision:

while Oman has its own goals that align with their Vision 2040 which laid down clear markers aiming to achieve 30% renewable energy by 2030 and 39% by 2040.

Oman has set in place such as the Manah 1 and 2 solar energy projects, expected to account for 12% of Oman’s electricity production by 2025, each planned to have a capacity of 500MW.

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A new Gulf tourism visa has been introduced to support the Saudi Arabian economy. This unified visa aims to promote tourism in the Gulf region and make it easier for visitors to travel between countries.

In November 2023, the Gulf Cooperation Council (GCC) approved a significant unified tourist visa that is set to launch between 2024 and 2025.

The permit, similar to the Schengen scheme, will enable tourists to travel across all six GCC member states: Oman, Bahrain, Kuwait, Qatar, Saudi Arabia and the UAE.

Quotes about the Unified Gulf Visa:

During the 40th meeting of the organization’s interior ministers in Muscat, Oman, Jassim Mohammed Al-Budaiwi, GCC secretary-general, announced the new visa on November 9.

He added “The unified Gulf tourist visa is a project that will contribute to facilitating and streamlining the movement of residents and tourists between the six GCC countries and will, undoubtedly, have a positive impact on the economic and tourist sectors,”

In November 2023, the World Bank published a report titled “Economic Diversification Efforts Paying off in GCC Region but More Reforms Needed”. According to this report, the GCC region is expected to grow by 1% in 2023, followed by a growth of 3.6% and 3.7% in 2024 and 2025, respectively.

“To sustain the current economic growth, GCC countries need to maintain responsible macroeconomic management, stay devoted to structural reforms, and concentrate on boosting their non-oil exports,” stated Safaa El Tayeb El-Kogali, the World Bank’s country director for the GCC.

Saudi Arabia’s Tourism Authority Spokesperson and Corporate Communications Director Abdullah Al-Dakhil stated that:

“Saudi is booming, with the Saudi Central Bank recently announcing that visitor spending exceeded SR100 billion ($26.66 billion) in the first three quarters of 2023 and UNWTO recognizing the Kingdom as the world’s second-fastest-growing tourist destination,”

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The first international bus service between Muscat and Riyadh will start on Thursday, traversing the empty quarter road that connects the two countries.

Rashid Al-Khanjary, who owns Al-Khanjary Transport, told the Observer that the bus will leave Muscat at 6 in the morning and reach the Riyadh Azizia area at 5 in the evening.

The travel time will vary from 18 to 20 hours, depending on the time taken for immigration and other formalities at the border.

He also stated, “Timings from Riyadh will be adjusted as per the passenger demand.”

There will be a promotional deal offering a discounted price of SR250 ($66), the offer will end by the start of March and the price will increase to SR350 ($93).

According to Rashid Al-Khanjary the Government of Saudi Arabia has demanded that the busses transport at least 25 passengers per trip.

The Omani-Saudi service allows for three stops in the Sultanate of Oman, which are:

1. Ruwi
2. Nizwa
3. Ibri.

The Omani-Saudi busses will move northside from Oman, heading towards the city of Dammam, the capital of the Eastern Province of Saudi Arabia and the fourth most populated city to continue the trip to the Saudi Capital of Riyadh.

Rashid Al-Khanjary also stated that the trip to Dammam would add some travel time but it shouldn’t be an issue since the company will provide dual carriageway for a comfortable ride.

He finished by saying that there will be two drivers operating the bus on the route to ensure safety and allow for some rest stops.

The bus will also carry both citizens and expatriates with some expatriates of some nations having Visa-on-arrival options or other similar exemptions.

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Al Khuwair Downton and Waterfront Development Project, estimated at USD1.3 billion.

The project is already agreed upon and plans to start construction before the end of 2024 are already set in stone according to the Ministry of Housing.

The project is set to span around 3.6 million square meters, which amounts to a surface area larger than Muscat International Airport.

The task of designing the 38,000 square meter section of the project will be handled by Zaha Hadid Architects, in legacy of Zaha Hadid.

The firm is partnering with the real estate and investment firm CBRE in the project design while the Ministry partnered with Al Tawoos for the development of a mixed-use tower.

The Ministry has announced that Al Khuwair Downtown will host a cluster of buildings, 40 floors high.

The project was allocated a budget of USD8 million to support the brand identity and cover marketing expenses.

Al Khuwair Downtown and Waterfront Development Project is one of the biggest investments of urban initiatives announced by the Ministry of Housing and Urban Planning in recent years.

Quotes from Muscat:

Dr Khalfan bin Said al Shueili, Minister of Housing and Urban Planning, stated, “We are partnering with local and international investors to present developments about our future projects.”

He added “The urban projects align with the Oman 2040 national development strategy aimed at turning the ambitious vision for urban development into reality. “

He finished with “Careful planning, international expertise and comprehensive collaboration are central to the approach.”

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