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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Aman, a Swiss-based hospitality brand, is currently developing its first hotel property in Dubai.

The company sees Dubai’s opening as part of a move to expand its presence in the Middle East, along with its sister concern Janu.

The development of the hotel has been partnered with Bright Start, a UAE-based real estate investment company that already owns the Four Seasons in Dubai. H&H Development, a real estate developer, will be leading the delivery of the Dubai project.

While some details are still under wraps, Aman Dubai is expected to be located in Jumeirah 2 neighborhood with an expansive private beach.

The hotel will feature all-suite rooms, a spa of over 2,000 sqm, several restaurants, and an Aman Club.

Additionally, a limited number of Aman branded residences will also be available. The hotel will be designed by Singapore-based Kerry Hill Architects, with a minimal and contemporary design aesthetic while incorporating Arabian heritage.

The property will also have nine acres of gardens.

Aman Dubai is currently in the development phase, and the luxury hotel group has been expanding its pipeline in the Middle East over the last few years.

It has plans to open three properties in Saudi Arabia, including a tented camp, a desert ranch-style resort, and Hegra in AlUla.

Janu, its sister hospitality brand, also has a pipeline that includes a project in the UAE.

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Ras Al Khaimah Art has become a celebration of culture and the arts in the Emirate. The festival, inspired by H.H.

Sheikh Saud bin Saqr Al Qasimi’s vision aims to showcase the Emirate’s artistic talent and promote cultural exchange.

Initially launched as a three-day exhibition in 2013, it has grown into a month-long annual event that attracts over 45,000 visitors and features 106 local and international artists from 35 countries.

The festival’s Founding Executive Director, Dr. Natasha Ridge, identified its potential early on and explored avenues for expansion.

During a visit to La Gacilly, France, she was inspired by a village transformed into an outdoor art gallery and envisioned a similar concept for Ras Al Khaimah Art.

She found the perfect location in Al Jazeera Al Hamra Heritage Village, a UNESCO tentative list World Heritage Site and the UAE’s last-surviving pearl-fishing village.

The site, which represents centuries of architecture, trade, and culture, includes a fort, watchtowers, a mosque, souq, and traditional dwellings, and attracts a much wider audience.

Ras Al Khaimah Art’s repertoire has expanded to include a range of artistic expressions, from workshops and film screenings to live performances and an art exploration program.

Last year, the festival saw 1,000 students participate in workshops and tours, connecting youth with history and culture and adopting a sustainable approach to the arts.

Ras Al Khaimah Art plays a role in promoting itself as a cultural destination.

By providing a platform for local artists alongside international counterparts, the festival contributes to the cultural and economic progress of the UAE.

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The Electricity and Water Affairs Minister, Yasser Humaidan, and the Industry and Commerce Minister, Abdulla bin Adel Fakhro, were also present.

Shaikh Khalid was welcomed by Imerys Al Zayani’s board of directors chairman and Al Zayani Investments honorary board of directors chairman, Khalid Al Zayani, and Imerys CEO, Alessandro Dazza.

The Deputy Premier was briefed on the production process in the company’s factory, which specializes in the production of white and compact fused alumina and exports to more than 25 countries.

He emphasized the private sector’s role in enhancing environmental security and its efforts to reduce carbon emissions by 30 percent by 2035 and reach carbon neutrality by 2060, in line with the goals of the comprehensive development process led by His Majesty King Hamad and overseen by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, and Prime Minister.

Shaikh Khalid affirmed that the private sector is keen on countering environmental challenges and sustaining the environment and resources in line with the Bahrain Economic Vision 2030 and the Government Plan (2023-2026) by focusing on energy sustainability, transitioning to it, and encouraging the national mix to be more renewable.

These efforts are guided by the National Renewable Energy Action Plan (NREAP) and the National Energy Efficiency Action Plan (NEEAP), which are two of the main priorities overseen by the ministerial committee for development and infrastructure projects, Shaikh Khalid added.

The Deputy Prime Minister highlighted the diversity of Bahrain’s industrial sector and efforts to direct capital into specific and advanced industries to achieve the Government’s Industrial Sector Strategy (2022-2026), which focuses on applying circular economy and environmental and social governance to raise the industrial sector’s contribution to the GDP, increase exports of national origin, and create new jobs.

Shaikh Khalid commended the partnership between Al Zayani Investments and Imerys, a French multinational company that specializes in the production and processing of industrial minerals.

He noted that their partnership was the result of the efforts of the Economic Development Board of Bahrain in promoting the kingdom’s role as a business-friendly environment and providing investment opportunities.

Mr Al Zayani said that with the installation of 8,600 solar panels, carbon emissions would be significantly reduced by 5,000 tonnes annually, which make up 15 percent of the company’s emissions.

The panels will also generate 25 percent of the company’s electricity consumption, he added.

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Saudi authorities have announced that the Principality of Eastern Region has signed an agreement with one of the subsidiaries of the Saudi sovereign wealth fund PIF to develop a project called THE RIG.

The investment agreement includes the construction, development, operation, and maintenance of a tourist and visitor station, a marina for yachts and seaplanes, helipads, and other supporting activities to serve the project.

This information was reported by SPA.

The deal was signed in the presence of Governor of the Eastern Region, Prince Saud bin Naif bin Abdulaziz, at a ceremony in Dammam.

The project aims to invest in marine activities and develop unique tourism and entertainment destinations.

This announcement follows the launch of a package of investment projects worth SAR18 billion ($4.8 billion) by Prince Saud.

THE RIG will include several key projects such as hotels, amusement parks, water sports facilities, as well as other adventures and stations with facilities to serve visitors and tourists.

The platform will also feature three hotels and eleven restaurants. It is considered the first tourist destination in the world inspired by offshore oil platforms in the Arabian Gulf, making it unique on a global scale.

According to officials, the project includes an offshore platform in the middle of the Arabian Gulf and stations on Dammam Corniche, the Cultural Center, and Jubail Corniche.

The main project is a platform in the middle of the Arabian Gulf near Al Juraid Island. The project aims to represent a leap in entertainment, tourism, marine activities, and means of transportation, supporting elements of quality of life.

The agreement contributes to achieving the goals of Saudi Vision 2030, which is to raise the quality of life and develop economic diversification, according to the SPA report.

The Eastern Region had recently attracted significant investment capital and ranked first in attracting foreign investment, it added.

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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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