Kuwait based Rizk International Company, which manages a portfolio of real estate investments has purchased 100 commercial and industrial units in the Sandan light industries project. Rizk International based in the State of Kuwait, specializes in portfolio management and real estate investments and is managed by Mr. Salah Jemaz. “We are delighted that this cooperation is an indication of the interest of investors in the Gulf to invest in Sandan, which proves the importance of the project and the success of its idea, ” said CEO of Sandan Development. This will definitely contribute to raising the income of investors in Sandan. In addition, the units that will be purchased by Rizk International will be leased out to large institutions, thereby leading to a surge of interest towards this project. Sandan will be the most important destination for the purchase of automotive products as well as construction activities, which will gradually change any negative economic factors arising in the market. “Rizk International believes that the industrial environment in Oman is promising and fertile to facilitate the inflow of investment capital and achieve reasonable returns to suit the local and GCC economic conditions. We have invested in 100 commercial and industrial units in Sandan Light Industrial Park Project, and this is the beginning of a mutually beneficial cooperation between the Kuwaiti and Omani private sector. God willing, we can achieve the desired results.” The Sandan city of mega-projects, which is characterized by a strategic and vital location, is conveniently situated in an area of 250 thousand square meters and contains 4,500 units divided between workshop s and showrooms for used cars as well as construction materials in addition to offices and residential units. The project implementation is underway and will be completed in the third quarter of 2018 as per the agreement signed with Towell Construction Company. The city which can house more than ten thousand people is expected to attract a wide range of visitors numbering to approximately fifteen thousand per day.
