By Staff Reporter
H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, witnessed the signing of a landmark agreement to develop and operate the first phase of the Al Rawdah Special Economic Zone in Oman’s Al Buraimi Governorate.
The deal was signed in Muscat during a high-level UAE delegation visit led by Sheikh Hamdan, reflecting the deepening economic cooperation between the UAE and Oman.
The agreement was signed by Eng. Ahmed bin Hassan Al Dheeb, Deputy Chairman of Oman’s Public Authority for Special Economic Zones and Free Zones (OPAZ), and Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, on behalf of Mahadha Development Company, an Emirati-Omani joint venture. DP World is the majority partner in the project.
Mahadha Development Company will develop infrastructure, master planning, and facilities for the zone, which will initially cover 14 square kilometers with plans to expand to 25 square kilometers. The zone’s strategic location connects it directly to key ports in Oman and the UAE, including Sohar and Jebel Ali, enhancing logistics and market access across Gulf, Asian, and African trade routes.
The zone aims to foster diversified economic activities such as manufacturing, logistics, pharmaceuticals, and food processing, while supporting Oman Vision 2040 and Dubai’s Economic Agenda D33. It is expected to attract foreign direct investment, boost industrial output, and create thousands of jobs over time.
This initiative follows record non-oil trade between the UAE and Oman in 2024, reaching AED 56 billion, signaling a growing partnership. DP World’s four decades of expertise in free zone development positions the Al Rawdah project as a key driver for regional trade and economic growth.
News Source: Emirates News Agency
