Times of Oman reported that Shumookh Investment & Services SAOC, the investment arm of the Public Establishment for Industrial Estates, has signed three agreements to set up the Facility Building in the Knowledge Oasis Muscat.

The signing ceremony was held at KOM in the presence of Mr Hilal bin Hamad Al Hasani CEO of the Public Establishment for Industrial Estates and chairman of the Board of Directors for Shumookh Investment & Services SAOC.

After the signing ceremony took place, the foundation stone for the Facility Building was laid. The total cost of the project has been budgeted at OMR 4,933,700.

According to the agreement with the contractor, the construction of the new building will be completed in 15 months from the commencement of construction, which shall begin during the current month.

Mr Mohammed bin Hamad Al Maskari director general of KOM stressed that the Facility Building would be offering an added value for the investors, employees and the local community.

He added that "The Facility Building is an essential complement for the Knowledge Oasis Muscat as it will provide a wide range of services required by the modern business environment and that would contribute to increasing productivity and improving performance."

(Sourced from Times of Oman)