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Leading from the front
Leadership is essential for the success of a business. Organisations with effective leaders are better equipped to tackle challenges and capitalise on opportunities. Developing strong leadership takes time and involves qualities such as adaptability, empathy, and a deep commitment to trust and transparency. These attributes foster an environment where employees can thrive and perform at their highest level. Sixty-two percent of CEO’s selected growth as their top business priority in 2024, according to a new survey by Gartner, Inc. This is the highest level since 2014, and an increase from last year’s survey where 49 per cent of CEOs said their top business priority was growth.
The 2024 Gartner CEO and Senior Business Executive Survey was conducted from July through December 2023 among 416 CEOs and other senior business executives in North America, Europe, Asia/Pacific, Latin America, the Middle East and South Africa, across different industries, revenue and company sizes. When asked about digital transformation, 34 per cent of CEOs identified AI as the top theme of the next business transformation after digital, followed by operations efficiency at 9 per cent.
CEOs are not deterred by any negative prospects around AI, as 87 per cent of CEOs agreed that the benefits of AI to their business outweigh its risks. Another 90 per cent of CEOs agreed the idea that AI is an existential threat to humanity is hype and exaggeration. However, CEOs are not approaching AI with an entirely positive outlook. Fifty-six percent of CEOs said disinformation, misinformation and deep fakes will create operating problems. Twenty-nine percent see constrained electricity supply and 53 per cent see general supply chain issues as a problem, in large part due to GenAI and the demand the technology creates.
OommenJohn
OER’s cover story on Leadership Excellence offers insights on the principles of success of business leaders.
Oommen John
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ENTREPRENEURIAL ENDEAVOURS
Your cover story on the Most Influential People in Business made an interesting read. A successful business owner serves as the engine of their entrepreneurial ventures, achieving remarkable milestones. With keen business insight, they skilfully steer their companies toward financial success. They are always on the lookout for new opportunities and are well-informed about industry trends. Their expertise is evident in their ability to navigate the intricate business landscape, emphasizing sound financial management and profit maximization. Their impact on Oman’s economy is significant, driving job creation, boosting trade, supporting SMEs, and fostering community development. In recent years, many business owners have embraced sustainability initiatives, implementing ecofriendly practices and promoting social responsibility.
Continuous product development is crucial for staying competitive, as business owners strive to improve existing offerings and create new ones to adapt to changing consumer preferences. Networking plays a vital role as well; by building relationships with other entrepreneurs, investors, and industry leaders, they gain valuable insights and foster collaboration. Further, active engagement in local communities is a common commitment, with entrepreneurs participating in initiatives that promote economic development and social welfare. Through these diverse entrepreneurial endeavours, business owners not only pursue personal success but also contribute meaningfully to the economy and society at large.
Ahmed Shahzad, Seeb
TAPPING EMERGING OPPORTUNITIES
The successful completion of the two-week Ecosystem Readiness Lab, which outlined 26 initiatives aimed at achieving Oman’s 2030 green hydrogen production goals, was truly enlightening. These multi-sector initiatives focus on five key areas: Permits, Contractors, Workforce Development, Logistics, and Local Content. They are set to be submitted for approval after a final review by the overseeing steering committee in the coming weeks. Once approved, these initiatives will be crucial in advancing Oman’s strategic objectives, encouraging private sector investment, fostering entrepreneurial innovation, and enhancing the readiness of the national ecosystem for green hydrogen projects. This will ensure that Oman is well-positioned to take advantage of emerging opportunities in the global green energy market.
Implementing these 26 initiatives will establish Oman as a leader in green hydrogen production and export, underscoring the nation’s strong commitment to sustainability and innovation. By advancing these efforts, Oman seems to be on track to meet its 2030 green hydrogen targets, promoting domestic growth and reinforcing its role in the global clean energy transition.
Ralph Rodriquez, MQ
LEADERSHIP EXCELLENCE
13
Business leaders offer insights on the principles of success
COVER STORY
LEADERSHIP EXCELLENCE
Business leaders offer insights on the principles of success
MANUFACTURING ADDING VALUE
Vale and Jinnan Iron & Steel Group to invest over $600mn in Oman’s first iron ore concentration plant
PARTNER OF CHOICE
company’s contribution to Oman and
Oman launches initiatives to reduce carbon emissions
The Sultanate of Oman has stepped up its game in reducing carbon emissions to achieve the net-zero plan by 2050 through initiatives in the land, sea and air transport sectors, as well as the communications and information technology sectors
Eighty agreements worth RO186m signed during Urban October
Urban October Conference and Home & Building Expo kicked off today with wide participation from international investors and consultants in the fields of urban planning and real estate development
ADQ appoints Modon as Master Developer for Ras El Hekma Megaproject in Egypt
In the presence of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and His Excellency Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, ADQ, an Abu Dhabi-based investment and holding company, appointed Modon Holding PSC as the master developer for the Ras El Hekma megaproject
BUSINESS BRIEFS
Bank Muscat successfully launches its “Al Tharwa” Investment Fund
Bank Muscat, the leading financial services provider in the Sultanate of Oman, is delighted to announce the successful launch of Al Tharwa Fund, a balanced fund investing in both equity and fixed income securities. During the Offer period from September 1 to 12, 2024, the Fund has received a strong demand from individual and corporate investors. The subscribed units were allocated on September 26, 2024, during which the open-ended fund reopened for regular subscription and redemption.
The open-ended Fund offers regular dividends as well as capital appreciation to investors and it provides the benefit of diversification by investing in two key asset classes i.e. equity and fixed income securities through a single fund. The Fund has appealed to retail and institutional investors and is reflected in its granular and well-diversified customer base.
The Fund was launched by Bank Muscat’s Asset Management, which is the largest asset manager in the Sultanate of Oman and one of the most experienced asset managers in the GCC region. The Asset Management team has a proven track record of managing GCC equities since 1993 across multiple funds and strategies including Sharia-focused
investments. For reference, Bank Muscat Oryx Fund, the flagship GCC equity fund, managed by the team, has delivered consistent performance across all periods. During the continuous offer period, investors who wish to subscribe to the Fund can download the subscription form from Bank Muscat’s website via www.bankmuscat.com and submit it to the nearest Bank Muscat branch.
Bank Muscat customers can subscribe to the Fund through the Internet Banking platform
Alizz Islamic Bank and Sharakah collaborate to drive SME growth
Alizz Islamic Bank partnered with Sharakah, a premier SME development organisation in Oman, through its ‘Alizz Business’ value proposition, to launch an initiative that focuses on the SME’s sustainable Growth.
This programme is designed to empower eight SMEs, with a strong focus on performance and growth. The selected SMEs will be selected across multiple channels which includes not
only from the Alizz Islamic Bank but also SME Development Authority (SMEA) and an open registration process for the public. Priority will be given to SMEs that provide significant value to the national economy, particularly in sectors with substantial economic impact.
The initiative is structured around two key pillars including consultancy and capacity building. Over a 12-month period, participating
of Bank Muscat. Interested investors may contact the Fund Management team via email at assetmanagement@bankmuscat.com. Being an open-ended fund, investors may redeem their units anytime through Internet Banking platform of Bank Muscat or by submitting duly filled and signed redemption forms to the nearest branch of Bank Muscat.
Speaking on the successful launch of the Fund, Khalifa Abdullah Al Hatmi, Deputy General Manager, Investment Banking and Capital Markets, Bank Muscat said, “Al Tharwa Fund is an important addition to our bouquet of funds and is a testament of the trust that investors have in Bank Muscat Asset Management’s investment products and financial solutions. This Fund enables regular rebalancing of the allocation to equities and fixed income securities, to provide an inbuilt advantage of diversification for investors during changing market conditions and to manage the volatility effectively.
Considering the global factors and the need to address the volatility, the Fund provides the investors with the optimal allocation for their investments. We would like to thank our individual and corporate investors for the trust bestowed in the offering and for their faith in the banking solutions offered to them.”
SMEs will receive personalised consultancy services, including a 360-degree business assessment, the development of long-term strategic plans, and life coaching to enhance leadership skills. The capacity-building component will focus on strengthening core business competencies through training sessions on marketing, social media strategies, and effective cash flow management.
Industry experts will also provide valuable insights to help SMEs align their operations with current market trends. This collaboration is expected to deliver measurable results for participating SMEs by improving their strategic direction, enhancing internal capabilities, and expanding their market reach. The initiative will also provide SMEs with tools, policies, and templates that promote sustainable business practices, supporting long-term growth. Ultimately, the programme
aims to foster innovation and enhance SME performance, contributing significantly to Oman’s broader economic development.
‘Alizz Business’ is a comprehensive financial service offering from Alizz Islamic Bank, tailored to meet the specific needs of SMEs in Oman. It offers a variety of Shari’a-compliant products, including flexible financing solutions for business expansion, working capital, and diversification, along with attractive savings and investment opportunities. Additionally, ‘Alizz Business’ provides SMEs with access
to a cutting-edge internet banking platform, enabling secure and efficient transaction management. Alizz Islamic Bank’s commitment to this initiative highlights its dedication to fostering SME growth, recognising their pivotal role in driving economic progress.
Ali Ahmed Muqaibal, CEO, Sharakah, said, “This collaboration with Alizz Islamic Bank reflects a shared vision of fostering growth and innovation within Oman’s SME sector. By equipping businesses with essential tools and expert guidance, we
aim to empower entrepreneurs to achieve long-term success and contribute to the nation’s economic development.”
Ali Al Mani, CEO, Alizz Islamic Bank, commented, “At Alizz Islamic Bank, we believe SMEs are the cornerstone of economic prosperity. Through ‘Alizz Business,’ we are offering financial solutions and continuously addressing the unique challenges the Omani SMEs are frequently facing. Our partnership with Sharakah is a step towards contributing to a sustainable SME ecosystem in Oman.”
BUSINESS BRIEFS
As a pivotal player in Oman’s digital landscape, imtac’s Managing Director Vishal Goenka presented a high-level plan that not only outlined the company’s future strategy but also emphasised its alignment with Oman Vision 2040. Goenka highlighted the company’s commitment to driving the nation’s digital transformation, enhancing operational efficiency, and contributing to Oman’s long-term goals of economic diversification, sustainability, and technological innovation. In recognition of its legacy of 40 years and resilience in the dynamic market, OERLive honoured the company with the prestigious IT Leaders of the Year award.
Oman Vision 2040, the Sultanate’s ambitious roadmap for socio-economic development, presents a myriad of opportunities for imtac to play a vital role in the nation’s progress. Goenka underscored the importance of digital
businesses, accelerating Oman’s digital journey.
The company also plays a crucial role in sustainable development, a core pillar of Vision 2040. Leading efforts in smart city projects and sustainable solutions, imtac aligns with the vision’s environmental sustainability goals, helping urban centers become more efficient and eco-friendly. The Omani government’s focus on economic diversification, particularly reducing reliance on oil and gas, creates significant opportunities for the company. Its diverse technological offerings are contributing to the growth of sectors such as healthcare, finance, and government services. By implementing advanced digital systems in these industries, imtac is helping to enhance operational efficiency, reduce costs, and foster innovation, supporting Oman’s goal of building a diversified economy. As Oman transitions toward an innovation-driven economy, the company’s initiatives in Industry 4.0 and its
technological solutions. Goenka’s presentation emphasised the company’s forward-looking approach and its alignment with the broader national strategy of Oman Vision 2040. By focusing on digital transformation, sustainable development, and innovation, the company is well-positioned to contribute significantly to the country’s ambitious goals.
imtac’s role as the technology partner at OERLive DX 2024 reflects its leadership in shaping Oman’s digital ecosystem. The conference, which gathered over 20 influential speakers from diverse industries, served as a platform for knowledge sharing and collaboration on key technological trends such as AI, machine learning, big data, and open banking. These technologies are reshaping industries, and imtac’s contributions to the event showcased its capability to offer solutions that align with both sector-specific needs and Oman’s national digital agenda.
Bank Nizwa reaffirms leadership in Islamic Banking; powers Themar Islamic Banking Conference 2024
Committed to fostering meaningful discourse on vital industry topics, Bank Nizwa, the leading and most trusted Islamic bank in the Sultanate of Oman, recently powered the Themar Islamic Banking Conference 2024. Organised by The Arabian Stories (TAS) in collaboration with Financial Services Authority (FSA) and Oman Banks Association, the inaugural edition of the conference focused on Islamic financial transactions and economic stability. As a forward-thinking institution that has consistently led industry innovation, Bank Nizwa’s participation highlights its ongoing dedication to driving progress within Oman’s Islamic finance sector.
The opening ceremony of the conference was hosted under the patronage of His Excellency Abdul Salam bin Mohammed Al-Murshidi, President of Oman Investment Authority, in the presence of Khalid Al Kayed, CEO, Bank Nizwa, along with several experts, stakeholders, and pioneers in the Islamic banking sector.
The event featured active participation from the bank’s executive management, who contributed valuable insights and engaged in meaningful discussions. Khaled Al Kayed set an inspiring
NBO launches ‘Transfer Your Salary’ campaign with exclusive rewards and premium benefits
In line with its commitment to enhance customer satisfaction, National Bank of Oman (NBO) has recently launched its ‘Transfer Your Salary’ campaign, encouraging customers to open accounts and transfer their salaries to NBO, while unlocking exciting rewards and premium benefits.
The campaign aims to empower individuals to take charge of their financial future by managing expenses and enjoying a range of exclusive rewards. Open to both Omanis and non-Omanis aged 24 and above, it provides an ideal opportunity to enhance financial well-being through NBO’s tailored banking solutions. To raise awareness and publicize the campaign, NBO hosted a community event at Oasis Mall Sohar to shed light on the rewards and benefits of transferring salaries including; receiving 750 reward points along with an extensive selection of financial services. Moreover, NBO offers a
particularly its Platinum and Signature cards. These cards offer a host of exclusive benefits such as complimentary airport lounge access, special travel offers, and comprehensive medical and travel insurance. Customers will also earn Reward Points with every transaction, alongside exclusive merchant offers through NBO’s extensive network. NBO’s Rewards Program adds even more value to customers’ banking activities. By activating their card via the NBO mobile app, customers will earn an additional 100 points, while registering for the Rewards Program brings in 500 points. Combined with the 750 points awarded for transferring their salary, customers can enjoy a wealth of benefits that enhance their banking journey. Through NBO’s ‘Transfer Your Salary’ campaign, customers can access exclusive travel perks,
and
support their lifestyle.
BUSINESS BRIEFS
Ooredoo Group secures QAR 2 billion in landmark
- both in terms of value and tenor - ever achieved in Qatar’s tech sector, underscoring the confidence of leading financial institutions in Ooredoo’s strategic vision.
The funds will be strategically allocated to carve out existing data center assets from Ooredoo’s telecom operations, with a significant portion directed toward expanding capacity and upgrading infrastructure to support the growing demand for AI, Coud services, and hyperconnectivity in the MENA region.
Aziz Aluthman Fakhroo, Group CEO, Ooredoo, said, “The MENA region is one of the fastest growing markets for data centers worldwide, and there is significant untapped potential in AI, Cloud services and accelerated computing. This financing deal marks a major milestone in our strategic vision for expanding our data center and AI business, and we are excited to meet the region’s increasing demand while upholding our commitment to sustainable, energy-efficient infrastructure. I would like
Masraf Al Rayan on this important financing deal, which will facilitate the growth of data centres in Qatar and the region.
We expect the data centre market to grow significantly over the coming years, and by supporting Ooredoo, we are investing in the future of AI and Cloud services. This collaboration also strengthens Qatar’s leadership in technological innovation. We look forward to working closely with Ooredoo Group as this market evolves.”
Fahad Al Khalifa, Group CEO, Masraf Al Rayan, commented: “We are excited to be part of this major financing deal, which will contribute to driving technological progress in Qatar and the region. By partnering with Ooredoo, we are investing in the future of digital infrastructure and supporting sustainable growth through innovation and economic diversification. We are proud to be at the forefront of this significant initiative, which will undoubtedly cement Qatar’s position as a leader in the digital economy.”
proud to play a role in enabling this important step towards achieving comprehensive development in Qatar and the region.”
Ooredoo’s Data Centre company was established to pioneer the region’s digital transformation by providing cutting-edge colocation services to hyperscalers and enterprises. As part of its strategic growth, the company plans to expand its capacity to over 120 megawatts through a $1bn investment in the medium to long term. This expansion will position Ooredoo to better serve the increasing demand for localised Cloud services and IT workloads, particularly from hyperscalers.
With 26 active data centers across Qatar, Kuwait, Oman, Iraq, and Tunisia, Ooredoo continues to lead the MENA region’s data center market. The company is committed to building a new generation of sustainable, energy-efficient data centers that will securely process IT workloads for governments, hyperscalers, enterprises, and startups, driving innovation and AI adoption across the region.
OQ Exploration and Production SAOG IPO to set record as largest IPO in Oman’s history
OQ Exploration and Production SAOG (under transformation) (“OQEP” or the “Company”) has announced that, following the successful completion of the bookbuilding and public subscription process for its initial public offering (“IPO” or the “Offering”), it has set the final offer price at Bzs 390 per share.
The final price is at the top of the price range of Bzs 370 to Bzs 390, reflecting strong demand from local, regional and institutional investors, including irrevocable commitments from six high-profile anchor investors to subscribe for an aggregate of 20 per cent of the Offering at the final subscription price, high quality investor participation and very limited price sensitivity in the order book. The IPO raised a total of RO780mn, pre-discount for Omani Individuals and RO750mn, including the discount for Omani
Individuals in the Category II tranche.
Ahmed Al-Azkawi, CEO, OQEP, said, “We are delighted to announce the excellent results of the subscription process for our IPO. We are pleased that investors have recognised our exceptional track record in value creation, operational excellence, and financial performance and we look forward to the next phase of growth as a publicly traded company. The broad support received from both institutional and retail investors across both the Category I and Category II offerings is a testament to our business model, the high quality of our portfolio and our ambitious growth strategy, the combination of which presents a compelling value proposition now endorsed by the global investor community.”
The company’s Category I and Category
II offerings were oversubscribed by c. 3.4x and c. 2.2x respectively with limited order inflation and significant support and participation by a wide range of high quality international, regional and local investors orders. Investors in Category I offering will be allocated 29.8 per cent of their demand. Investors in Category II offering (small retail) will be allocated 100 per cent of their demand up to 8,000 shares and then c. 23 per cent of their demand above this level. Investors in Category II offering (large retail) will be allocated c. 32.6 per cent of their demand. A total of c. 2.0 billion ordinary shares, representing 25 per cent of OQEP’s issued share capital, were offered to investors. OQ SAOC (“OQ”) will continue to own the remaining 75 per cent of the Company’s share capital immediately following completion of the IPO.
MHD ITICS launches realme C61 with upto 24GB RAM+ 256 GB ROM and massive battery life
MHD ITICS the authorised distributor of realme, a rapidly expanding global brand in the smartphone space, recently launched the cutting-edge realme C61 model across the Oman market. This robust and elegant smartphone boasts an industry-best battery life, with an industry leading 24 months warranty on the device. realme C61 is designed to empower you to live life to the fullest, allowing you to take stunning photos while enjoying smooth, responsive productivity, games, and media—all in a slim, fashionable, and affordable phone.
Designed for the youth and other dynamic users, the realme 61 is one of the most durable mobile; with an IP54 dust and water resistance rating, it can weather the numerous challenges of a hectic lifestyle. “It’s a device you can trust, no matter where you are or what you’re doing.”
The C61 comes with an innovative long-term battery, ensuring that it retains a significant portion of its original capacity, even after four years of regular use and it can also power through two full days on a single charge. The screen is designed for pleasing eye comfort, providing a crisp display that enhances responsiveness to scrolling, animations, and
transitions, making it suitable for various activities such as watching series, gaming, or browsing social feeds. The C61’s 50MP camera sensor is a high-resolution device that captures detailed, sharp images with rich colours and excellent dynamic range. It allows for vivid video and photo capture for preserving memories and easily sharing them on social media.
realme C61 improves your user experience through a variety of innovative artificial intelligence capabilities and technology. With the Air Gestures control function, you can answer and mute calls or switch between video streams on social media without touching your device, which is ideal when both hands are occupied. AI Noise Reduction intelligently detects, isolates, and
suppresses background noise, improving call quality in noisy environments like wind, traffic, or chatter. Meanwhile, the AI Boost Engine dynamically optimises the performance of your phone based on what you are doing at any given time. Smooth Boost and Game Boost optimize the system’s resources to match the needs of various workloads.
Harsh Vardhan Shukla, realme Country Manager for Oman, said, “C61 is a smartphone that will be your companion for many years, offering plenty of storage for your media, an unprecedented battery guarantee, and the performance you need to multitask across your favourite personal and work apps. All this power comes packed into a phone thinner than 10 credit cards stacked together.
PIONEERING ROLE
Bank Muscat, leading the development of Capital Markets and Investment Sector in Oman
The capital markets are crucial pillars for boosting economic growth across the world as they contribute to sustainable development and the creation of a strong economy through offering a platform to businesses for raising capital while providing investors an opportunity to invest the capital in line with their investment objectives. Bank Muscat, the leading financial services provider in the Sultanate of Oman, has been playing an important role in capital markets in Oman, as evidenced by the continuous accomplishments of Bank Muscat and the prominent strategies implemented to support its pioneering role as a trusted banking institution for over 40 years.
In line with its vision “To Serve You Better, Everyday,” Bank Muscat, represented by Investment Banking and Capital Markets team, is committed to attaining excellence and reaffirming its leadership position
investment products that reflect latest trends amid the evolving global and GCC markets. These products are designed suitably to meet the needs of both types of investors i.e. individuals and institutions. Further, the Bank offers unique financial advisory solutions to support various projects and corporates in the Sultanate and promote local and foreign investments.
To highlight the Bank’s role in developing the capital markets, recently Bank Muscat organised a media meet to highlight Bank Muscat’s contributions to the investment banking and capital markets field locally and regionally. The visit, attended by a number of media representatives, provided an opportunity for the audience to have conversations with the Bank’s officials, as well as to further strengthen partnership with various media outlets, which are an important component of the Bank’s growth and success.
in Oman and a leading asset manager in the GCC region, with a proven track record of successful operations for almost three decades. It offers tailored investment solutions across various asset classes including equity, fixed income, real estate and private equity investments. Further, the Bank’s investment banking team is the market leader in offering financial advisory and fundraising solutions across debt or equity solutions and for a wide range of instruments. Being the largest financial advisory team in Oman, it has delivered more than $40 billion for over 95 financial advisory and fundraising mandates over the last 15 years.
Speaking about the event, Khalifa Abdullah Al Hatmi, Deputy General Manager, Investment Banking and Capital Markets at Bank Muscat, said, “I would like to take this opportunity to express my appreciation to all our stakeholders for their partnership and ongoing cooperation. The Investment Banking and Capital Markets department’s accomplishments over the years reflect Bank Muscat’s commitment to incorporating the Bank’s values into its various businesses; working towards enhancing the Bank’s vision and serving the customers better every day. Bank Muscat invests heavily in its expertise in expanding financial advisory services, providing investment opportunities, and promoting Oman’s economy by successfully completing several strategic transactions for major institutions across a diverse range of economic sectors.”
Khalifa Al Hatmi further explained, “Bank Muscat is keen to maintain its leadership in investment in the Sultanate and the progress made thus far is a testament to the dedication shown by our team of experts and professionals, who are committed to providing the best in class investment services to the Bank’s
FOSTERING GROWTH
Bank Nizwa signs finance agreement for Hafeet Rail Project
of $45mn, for the groundbreaking Hafeet Rail project. The signing ceremony took place in Abu Dhabi. The landmark initiative that connects the capital of the United Arab Emirates (UAE), Abu Dhabi, and the Sohar Port in the Sultanate of Oman marks a significant milestone in regional collaboration and infrastructure development.
The ambitious Hafeet Rail project represents a strategic collaboration between the UAE and the Sultanate of Oman, designed to enhance the existing tourism infrastructure and offer residents and travelers the unique experience of cross-country rail travel throughout the Gulf Cooperation Council (GCC).
This railway system will provide passengers with breathtaking views of the mountains, highlands, and vast deserts of both nations.
stations in Sohar and Al Ain, significantly reducing travel time while ensuring enhanced safety, comfort, and luxury for all travelers.
On this milestone, Khalid Al Kayed, CEO, Bank Nizwa, stated, “We take great pride in extending our financing to the pioneering Hafeet Rail project, which has the potential to revolutionise travel and goods transportation across the GCC. At Bank Nizwa, we are committed to advancing national and regional priorities that enhance infrastructure and development, aligning our countries with international standards.
We are honoured to contribute to a project that will generate numerous direct and indirect employment opportunities while significantly reducing logistics costs and the carbon footprint associated
confidence the bank has cultivated within the regional community. As a leading Islamic financial institution, Bank Nizwa is dedicated to supporting initiatives that promote sustainable development and infrastructural advancement across Oman and the GCC.
The Hafeet Rail Project exemplifies this commitment, illustrating the bank’s strategic role in fostering economic growth and enhancing trade capabilities between neighbouring nations.
By playing a pivotal role in this regionally significant project, Bank Nizwa solidifies its position as the most-trusted and preferred financial partner, not only for individuals seeking exceptional Sharia-compliant banking solutions but also for organisations, corporations, and government entities alike.
INNOVATION AND EXCELLENCE
Sestablish a $7mn Food Manufacturing Plant for repackaging essential bulkimported food items and producing high-quality Meal Ready-to-Eat (MRE) solutions. The plant will be built on a 15,000 square meter industrial plot, dedicated to repackaging bulk-imported essential food items such as rice, milk powder, and sugar, sourced from major global producers in India, New Zealand, and Canada. These repackaged products will be reexported to markets across the Middle East and North Africa (MENA) countries, boosting regional trade and enhancing supply chain efficiencies.
This milestone project represents a new chapter for SOHAR Freezone, paving the way for innovation and excellence in Oman’s food industry. It also underscores SOHAR Port and Freezone’s ability to attract international investments that drive economic growth and strengthen Oman’s position in the regional market.
is poised to revolutionize SOHAR’s logistics capabilities, streamlining the redistribution of repacked goods to key markets across the GCC, with further reach extending to the African continent. This project is expected to create new employment opportunities, empowering local talent to drive the wheel of economic progress and contribute to a more sustainable future.
Mustafa Mohammed Abdalla Ahmed, Managing Director of Dan Foods Industries,
commented, “We are delighted to bring our expertise in food repackaging and producing high-quality Meal Ready-to-Eat (MRE) solutions to SOHAR Port and Freezone, a strategic location that offers unparalleled access to key markets in the GCC and beyond. Our investment in this project is a significant milestone for Dan Foods Industries, and we are proud to contribute to the nation’s economic development while
vision for a more diverse, innovative, and sustainable economy. The establishment of Oman’s first food repackaging facility is a testament to our team’s efforts to attract investment and drive growth, create opportunities, and enhance our nation’s role in the global food supply chain. We are confident that this collaboration will have a profound impact on our community, fostering a bright future for generations to come.”
Dan Food Industries is a significant addition to the dynamic business landscape of SOHAR Freezone, supporting its ongoing efforts to diversify economic activities and establish itself as a key logistics hub in the Middle East, aligned with Oman Vision 2040. These partnerships will further enhance Oman’s role in the global food supply chain, creating new economic opportunities and highlighting the pivotal role of SOHAR Port and Freezone in the region
LEADERSHIP EXCELLENCE
Business leaders offer insights on the principles of success
STRATEGICALLY ALIGNED
Al Tamman Trading is well-positioned to serve as a key facilitator for strategic investments and sustainable development thereby stimulating the growth of Oman’s mineral industry, says Musallam Said Al Amri, General Manager, Al Tamman Trading Establishment LLC in an interview with Oommen John P
Can you share details about Al Tamman Trading’s operations?
Al Tamman Trading Establishment LLC is a major player in Oman’s mineral sector, dedicated to strategic investments and sustainable development. The company is engaged in the exploration and mining of mineral resources in Oman and is a subsidiary of the Muscat Overseas Group—a diversified conglomerate with over 40 years of experience across sectors such as real estate, trading, contracting, industrial, oil & gas, travel & tourism, and mining. The Group has expanded its operations throughout the Middle East and Africa, positioning itself as a top investor in both listed and private investments in Oman. Al Tamman is involved in following mining and processing projects in Oman-Tahwa-Black & Brown Marble Quarry; Dima Wa Tayin-Grey Marble Quarry; Gypsum Quarry and Processing, Thumrait; Ferrochrome Plant, Suhar; Block-7 Copper and Gold, Batinah Region and Chromite Quarry, Al Ram. The company is also actively working to improve its portfolio of services and projects.
What key principles drive your vision for the company, and how do you share this vision with your team?
My vision is built on three core principles: Sustainable growth, innovation, and creating real value. Over the past 27 years, working across different industries like banking, telecommunications, real estate, and mining, I have realised that success
comes from not just having a vision but making sure everyone in the team feels connected to it. I am always open with my team, sharing the company’s goals in clear terms and explaining how each person’s work matters to the bigger picture. We have regular discussions, strategy meetings, and open conversations to keep everyone aligned and motivated.
What strategies do you implement to achieve a healthy work-life balance while leading your organisation? Maintaining a balance between work and personal life is always a challenge when you are leading an organisation. For me, it is about setting priorities and making sure I am present both at work and with my family. I have learned the value of delegating tasks and managing my time efficiently so I can be productive without burning out. I also believe in leading by example, so I encourage my team to strike a balance, too. A flexible work culture where people feel they have room to breathe makes everyone more focused and driven when it is time to work.
What prospects do you foresee for the mining and building materials sector in Oman?
Al Tamman Trading is positioned to serve as a key facilitator for strategic investment and sustainable development in the mining sector, thereby stimulating the growth of Oman’s mineral industry. The company’s main goal is to make strategic investments that capitalise on the increasingly opportunities within Oman’s mining sector, aligning with the government’s objectives to expand and enhance the industry.
Specialising in the extraction and sale of minerals such as chromite, manganese, gypsum, and marble, the company also plans to explore copper and gold deposits. We have one of the largest Gypsum Quarry and Processing plant and we intend to set up a plant in the downstream sector soon. We intend to be a big producer and manufacturer of raw materials for the mining sector. Established in 2008 with a vision to develop chromate mining activities and to set up downstream facilities that will allow the company to export ferrochrome to the world, ATTE moved from just an exporter of raw materials to a creator of value. This has been the Vision of our Chairman all along, creating value for the country and the industry to support the government’s drive to improve the contributions of mining sector to the country’s economic growth.
Looking ahead, we see immense prospects for growth of the mining sector as the government has set up well established systems and have improved the tendering system. There are lots of opportunities for investors in the mining sector.
What strategies do you employ to identify and nurture talent within your organisation? What are your plans to develop young Omanis, develop their skills, and move up the management ladder?
One of the most rewarding parts of leadership is identifying talent and helping people grow. I believe in giving young Omanis opportunities to learn and excel. I make it a point to mentor promising employees and offer them opportunities to lead projects. We have performance reviews to track their
growth, and we focus on hands-on learning. I also encourage continuous development through training programs that align with the skills needed in today’s market. My goal is to build a solid pipeline of future leaders who are equipped to take on bigger roles in the company.
What personal traits or habits do you consider vital for success as a business leader?
I think resilience and adaptability are essential. I have had the opportunity to work in a range of sectors, and in each one, things change quickly. You must be able to bounce back from setbacks and stay flexible in your approach. Another key trait is integrity—people need to trust their leader, and that means being honest, fair, and transparent. Lastly, I have always prioritised continuous learning. No matter how experienced you are, there is always something new to learn, and being open to that is crucial for staying ahead.
Which emerging technological trends do you think will influence the future of leadership, and how are you preparing for them?
Technology is moving fast, and I believe AI, automation, and datadriven decision-making are going to shape the future of leadership. I have already started incorporating AI tools, for task management in my own work, and I see this as just the beginning. To prepare, I am investing in technology for the company and encouraging my teams to embrace digital tools that help us work smarter, not harder. Leaders need to stay ahead of these trends and foster a culture that is open to innovation and change.
Maintaining a balance between work and personal life is always a challenge when you are leading an organisation. For me, it is about setting priorities and making sure I am present both at work and with my family. I have learned the value of delegating tasks and managing my time efficiently so I can be productive without burning out
STRIKE THE RIGHT BALANCE
Reggy Vermeulen, CEO, Port of Duqm encapsulates his management and life lessons in a candid interview with Mayank Singh
What key principles drive your vision for the company, and how do you share this vision with your team?
After the completion and commencement of operations at the Duqm Refinery, the Port of Duqm is now moving to attract the next big set of anchor clients. Overall, there are two big areas that are our primary focus. The first one is the green steel industry or the manufacture of low carbon steel. Second is the promotion of Green Hydrogen and alternative energy in Oman. In addition, there are other sectors such as mining, fishing, energy, and logistics which are also a focus area. We are stressing on these as they will contribute to downstream and upstream lateral businesses around them.
When it comes to cascading the message to the team, I really believe in teamwork which means that we must be transparent with everybody and give everyone an opportunity to contribute individually to an objective. A lot of time organisations take a course of action while missing out on the granularity of making everyone feel involved in that objective. Overall, each member should feel that they are a contributor to that achievement.
What strategies do you employ to identify and nurture talent within your organisation? What are your plans to develop young Omanis develop their skills and move up the management ladder?
We are doing this in two ways - one is the formal training route, and another is by improving the soft skills of the team. Several soft skills are acquired by being in a challenging environment
and I am proud of the work ethic of my colleagues across departments at the Port of Duqm. Overall, we have been able to build a culture of having a good work ethic. Often it is not the intelligence or background of a person which matters but his attitude and willingness to work.
The other important initiative which we focus on is an exchange programme with the Port of Antwerp. We send our colleagues to Belgium on long or short training courses which exposes them to other people and countries. This gives them an international perspective and is especially important at operations in a Port as our operations involves working with other ports, different communities, and people from various nationalities. To sum up, instilling the right work ethic and an international exposure helps in creating good leaders.
What are the personal traits which are important for a CEO to succeed? There is one thing which I keep repeating which is that a CEO should surround himself or herself with people that are more intelligent than himself or herself. I am not shy to say that I am surrounded with very bright people who know more than me in their respective fields. A CEO who is afraid that his line of reportees may overshadow him is not a good leader.
The second, is not micro-managing your team members and to give them enough freedom to have fun at their job. I call this the sand pit approach which means creating an area or structure within which an employee can function independently within a certain boundary. My job is to put the
core in place, hire the right personnel and give them the autonomy to perform along with accountability. This requires trust and an ability to work collaboratively.
What strategies do you implement to achieve a healthy work-life balance while leading your organisation?
I am probably not the best person or example to answer that but will try to do justice to the question (laughs). I am a believer in work hard, play hard and keep pushing my colleagues to take their holidays and time off to disconnect from the company and office. This is important because if you do not have these bubbles for your family or yourself, it is not healthy.
When people are happy in their private lives, they are more efficient at work and not the other way around. Work is important but spending some amount of time with your family should also be a priority. I think to some extent it is also the obligation of the company to encourage employees to take their time off.
Which emerging technological trends do you think will influence the future of leadership, and how are you preparing for them? While everyone is talking about Artificial Intelligence these days, for me the best technology which has had an impact on the way we work is Microsoft Teams as it allows an organisation to be fully connected allowing people to work from anywhere. It also leads to better work-life balance as it gives people an opportunity to spend more time with their families.
At Port of Duqm, all the information is available on the platform and can be retrieved from it whenever needed. Thus, a mastering and integration of Microsoft Teams is a major plus for any organisation. Moving ahead organisations and individuals will have to become proficient in AI as it is going to change a lot of things.
Looking ahead, what management insights do you think will be crucial for leaders in the next decade?
One management insight which I would insist for all leaders is to speak to the younger generation in the 2030 years age bracket. While I do not consider myself old at age 40, I can feel the gap between myself and the new generation of youngsters coming to work. Proportionately, I am a young CEO and I dread to imagine the difference between a 60- or 55-yearold CEO and the young generation.
It is important to speak to Generation-Z as their values, expectations from a workplace and thought process is different. The time which they spend at a company is way shorter than before and all these must be taken into consideration by a leader.
As Generation-Z comes into the workforce, a leader will have to be cognisant of their needs and shape a responsive organisation for it to succeed. The new generation is not living to work, they are living for themselves while work is one amongst other priorities. Companies will have to create an environment which allows youngsters to be productive for the company and for themselves.
One management insight which I would insist for all leaders is to speak to the younger generation in the 20-30 years age bracket. While I do not consider myself old at age 40, I can feel the gap between myself and the new generation of youngsters coming to work
BUILDING LEADERSHIP
Personal traits and the ability to manage one’s emotions have a greater impact on an individual’s leadership quality than technological trends, says Aameir Khan, COO, General Development Services LLC in an interview
mandates of operations within these industries over the years. For instance, GDS had been the first in Oman to have set up a local Organic Soil Conditioner and compost plant in Oman. This ensured that not only were the local raw materials and waste being recycled in the production of the much-required soil conditioners, but also ensured that we helped the country achieve net zero carbon emission from importing these items from foreign nations. Apart from the above, we are proud to mention that there have been numerous strategic and sustainable efforts made by GDS over the past 40 years, allowing the country to enhance its sustainable activities along with boosting the country’s ICV.
What strategies do you implement to achieve a healthy work-life balance while leading your organisation?
Healthy work-life balance is a challenge for most of C-suite executives and senior management. I will be honest that initially I did struggle to understand the importance of having an equal balance between personal and professional life, and how it impacts one’s health and mental well-being in the long run. However, one must realise that if personal life, mental and physical health is ignored, it can eventually lead to diminished work performance, wrong decisions, and a trickledown effect of negative stress into the entire management.
The most important skill I have learned over the years is to master the skills of delegation to your team. Even though most of the tasks may not be done as per your expectations, delegating the tasks takes away what I call the “dwelling stress” from your mind. This “dwelling stress” is what greatly impacts many of us in our personal time away from work which not only effects your relationship with your loved ones, but also greatly impacts one’s mental wellbeing. Initially your team might not be able to deliver the tasks as per your expectations, but over time they will understand your level of expectations,
so a strong trust should be built with your senior management to deliver and manage their responsibilities.
The other thing I have ensured to practice is to set clear boundaries between work hours and personal life. Being in the contracting and facilities management business where you have deliverables 24 hours a day, we have stress calls at any odd time. Though it is hard to avoid situations when you get calls at odd times, I have started the practice of maintaining a separate phone number that is available to our Senior Management only. If there is a situation that cannot be resolved within their authority, only then I get a call.
This allows me to avoid spikes in stress, allowing me to spend some quality time where I am mentally present with my family. I highly recommend this to others within our industry to do the same. To conclude, I would like to emphasise that health is the foundation of our success, both personally and professionally. Many of us take this for granted in our early years, for which we pay a heavy price in later years.
What strategies do you employ to identify and nurture talent within your organisation? What are your plans to develop young Omanis develop their skills and move up the management ladder?
Over the past 40 years, we have successfully identified individuals within our organisation who have performed beyond their expected roles and responsibilities. With a robust in-house leadership and training programs, we are proud to say that we have many individuals within our management team that had started their careers as fresh university graduates. Currently, my focus is to steadily develop Omani nationals and empower them with higher responsibilities through our internal training programs. With a strong team of over 200 plus Omani nationals in our organisation, we have been constantly identifying individuals with leadership qualities early in their careers and have
promoted them to be Team leaders, Site Project Managers, Logistics handlers, and Division Managers. My main strategy is to create a conducive environment for the Omanis nationals to voice their opinions, have an opportunity to perform cross functional activities, and help tomorrow’s leaders to build strong emotional and professional intelligence.
Which emerging technological trends do you think will influence the future of leadership, and how are you preparing for them?
Within our industry, I strongly believe that personal traits and one’s ability to regulate his/her emotions impact the quality of an individual’s ability to lead rather than technological trends. While adopting technological changes and new techniques do play an important role in the success of a company, it does not necessarily influence or change the intrinsic traits required to lead a company.
Empathy, corrective actions, proactive decision-making, and utmost level of patience influence the success of leadership. It is important to note that adapting to the swift and constantly evolving technology will ‘supplement’ and help attain data that would help make better decisions for current and future leaders. GDS has been working actively over the recent years in implementation of various ad hoc technology services that allows us to decrease the lead time and operating costs significantly. One of the technologies that will soon be implemented and that is currently being tested is the new iLMS system.
This allows us to streamline our heavy machinery, vehicles, etc. With close monitoring of factors that give live location and vehicle usage that is self-summarised for each operator and vehicle, it will allow us to increase overall efficiency in our operations. Other in-house programs are being developed using Python and machine learning softwares to help track, maintain, and automate various redundant and repetitive tasks.
PURPOSE-DRIVEN
Artificial intelligence (AI), digital transformation, remote and hybrid work, data analytics, and cybersecurity are reshaping the leadership landscape. Leaders must leverage these technologies to enhance efficiency and improve customer experiences, says P Chandrasekr, Group General Manager, Jawad Sultan Group in an interview
What key principles drive your vision for the company, and how do you share this vision with your team?
The principles that drive my vision for the company include growth, innovation, teamwork, customer satisfaction, integrity, and sustainability. Growth and innovation ensure we continuously improve and explore new opportunities. Teamwork brings collaboration to the forefront, and customer satisfaction is central to our success. Integrity ensures honesty and accountability, while sustainability focuses on long-term success with mindful resource use.
As Warren Bennis said, “Leadership is the capacity to translate vision into reality.” I share this vision with my team through regular communication, setting clear goals, and leading by example. It is important that every member understands how their role contributes to the overall vision, creating unity and motivation.
What strategies do you implement to achieve a healthy work-life balance while leading your organisation?
Balancing leadership with personal life requires a strategic approach. I prioritise key tasks through effective time management, delegate responsibilities to trusted team members, and set clear boundaries between work and personal time.
Encouraging flexibility in the workplace allows the team to manage their own work-life balance. Additionally, I make self-care a priority to ensure I am at my best both professionally and personally.
With today’s stressful times, leadership health is of paramount importance. I make sure that I devote considerable attention at my end primarily before speaking about it to others.
Stephen Covey aptly put it: “The key is not to prioritise what’s on your schedule, but to schedule your priorities.” By focusing on what truly matters and giving space to personal time, I maintain productivity and avoid burnout.
What strategies do you employ to identify and nurture talent within your organisation? What are your plans to develop young Omanis, helping them move up the management ladder?
Talent identification begins with performance tracking and regular assessment to find high-potential individuals. I support these individuals vigorously through mentorship, coaching, and providing challenging assignments to expand their skills. Recognising exceptional performance keeps the team motivated.
As Jack Welch said, “Before you are a leader, success is all about growing yourself. When you become a leader, success is all about growing others.” For young Omanis, I aim to offer customised training programs, clear career paths, and practical experiences through on-the-job assignments.
By providing structured internships and apprenticeships, one can prepare them for future management roles and ensure a smooth succession in leadership positions, promoting both local talent and the organisation’s long-term sustainability.
What personal traits or habits do you consider vital for success as a CEO? The key traits include strong leadership, effective communication, decisiveness, and adaptability. Being emotionally intelligent is crucial for understanding and managing relationships within the organisation. Resilience, the ability to remain focused in challenging times, and strategic thinking are also essential. CEOs must balance immediate tasks with a long-term vision while continuously learning and improving their skills. As Peter Drucker once said, “Management is doing things right; leadership is doing the right things.” A successful CEO should inspire others, communicate clearly, and navigate challenges with determination and flexibility.
Which emerging technological trends do you think will influence the future of leadership, and how are you preparing for them?
Artificial intelligence (AI), digital transformation, remote and hybrid work, data analytics, and cybersecurity are reshaping the leadership landscape. AI is revolutionising decision-making and automating processes. Leaders must leverage these technologies to enhance efficiency and improve customer experiences.
The digital shift requires investing in new tools and platforms to ensure seamless operations. Remote work demands more flexible management styles, while data-driven decisionmaking and cybersecurity are critical for staying competitive and secure.
Alvin Toffler famously noted, “The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and relearn.” To prepare, I invest in technology, foster agility within the team, and stay updated on cybersecurity protocols. Continuous upskilling ensures that both I and my team are ready for technological advancements.
Looking ahead, what management insights do you think will be crucial for leaders in the next decade? The next decade will demand adaptability, purpose-driven leadership, and a focus on employee well-being. Leaders must be agile, able to pivot quickly in response to market changes and new opportunities. As Simon Sinek put it, “In the long run, the most important question is not what you are doing, but why you are doing it.” Leading with purpose will align organisational goals with broader social and environmental responsibilities, attracting both customers and talent.
Renowned management expert Peter Drucker also reminds us of the importance of adaptability with his famous quote, “The best way to predict the future is to create it.” Leaders will need to proactively innovate, shaping their organizations for future opportunities. Employee well-being will continue to be a key focus. Richard Branson famously stated, “Take care of your employees, and they’ll take care of your business,” reflecting the critical role of a supportive work environment in driving engagement and retention.
In addition, diversity and inclusion will guide leadership strategies, with Verna Myers noting, “Diversity is being invited to the party; inclusion is being asked to dance.” Leaders who foster diverse perspectives will drive innovation and strengthen decision-making.
Lastly, as ESG factors become more critical, we can draw inspiration from Indra Nooyi, who said, “Leadership is not about the next election, it’s about the next generation.” Future leaders must integrate sustainability into their vision, ensuring long-term resilience and responsibility.
By incorporating these principles, strategies, and insights, leaders can effectively navigate the evolving business landscape, driving long-term success and innovation.
Future-Focused
What key principles drive your vision for the company, and how do you share this vision with your team?
At Oman Data Park (ODP), my vision is deeply rooted in empowerment, a strong company culture, and a sense of shared purpose. For me, a peoplecentric approach isn’t just a strategy; it’s the foundation of our success. I want every person on our team to feel
that they’re an essential part of what we’re building together. I make it a priority to hire people who are not only skilled but who bring a genuine drive and enthusiasm to their roles. Once they join, I see my role as providing them with the resources they need, treating them with respect, and giving them the freedom to take ownership of their work. When they feel empowered, they’re not just working
Eng. Maqbool Al Wahaibi CEO, Oman Data Park
THOUGHT LEADERSHIP SERIES
for ODP; they’re working with us, actively contributing to our vision.
Another core part of my vision is creating a culture where fear has no place, as it only hinders creativity and growth. I want my colleagues to feel comfortable taking ownership of their work, knowing that they have my support. This isn’t just an abstract idea – we hold quarterly gatherings where we reflect on our goals, progress, and vision, ensuring everyone is aligned and motivated. I believe in the power of recognising people’s contributions, which is why we also hold quarterly performance awards to honor exceptional work. Leadership, to me, is about fostering a collaborative environment where each person is respected and valued. In this way, our team isn’t just working for ODP; they’re a part of its journey and success.
Another key principle that drives my vision for ODP is customer-centricity, which I hold very close to my heart. I genuinely believe that our customers are at the core of everything we do. When I interact with clients, I make it a point to listen closely to their needs and concerns. I find that understanding their perspectives allows us to provide tailored solutions that truly make a difference in their businesses.
To share this vision with my team, I actively encourage them to engage with our clients as well. I often say that each interaction is an opportunity to build a relationship and demonstrate our commitment to their success. It’s important for everyone in the organisation to feel that they play a role in delivering exceptional service. I do my best to lead by example, showing my team how vital it is to prioritise our clients in our decisionmaking processes.
Moreover, I believe in creating a culture where feedback is valued. We
regularly seek input from our clients, and I make it a point to share those insights with the team. This not only helps us improve our services but also reinforces the idea that we are all part of a larger mission: to support and empower our clients. When our clients succeed, we succeed.
What strategies do you implement to achieve a healthy work-life balance while leading your organisation? Achieving a healthy work-life balance is a priority for me and one that I promote within ODP. My approach is grounded in the principle that discipline is vital not only for personal productivity but also for maintaining a healthy equilibrium between work and personal life. I emphasise the importance of being disciplined in our work habits, which allows us to manage our time effectively and avoid the tendency to let work extend into our personal lives.
One of the key strategies I employ is the establishment of clear boundaries between work and personal time. This involves encouraging my team to prioritise their tasks and set boundaries that prevent work from encroaching into their personal hours. By fostering a culture where team members feel empowered to disconnect after work hours, they can recharge and maintain their wellbeing, which ultimately enhances their productivity during work hours.
Additionally, I believe that physical wellness plays a significant role in achieving this balance. I advocate for regular physical exercise, as it not only improves mental clarity and focus but also contributes to overall well-being.
Thirdly, I endorse focusing on goal setting and planning as strategies. By setting specific, measurable goals, both for myself and my team, we can stay organised and prioritise tasks
effectively. This level of clarity helps us to manage our workloads efficiently, ensuring that we are focused on what truly matters and preventing lastminute rushes that can lead to burnout.
To illustrate the impact of discipline on work-life balance, I often refer to the contrast between two types of employees. One employee arrives on time, engages in productive work, and completes tasks efficiently, allowing him to leave work at a reasonable hour. In contrast, another employee may come in late, spend time on personal phone calls, browse the internet, and waste time during work hours. This lack of discipline results in unnecessary stress and often forces him to work late to meet deadlines. This example highlights how effective time management and discipline can lead to a more balanced work-life experience, enabling team members to enjoy their personal lives outside of work.
Another vital aspect of my strategy involves open communication about work-life balance. I encourage my team to express their needs and challenges openly. By creating an environment where discussing work-life balance is normalised, we can collaboratively find solutions that work for everyone. This could involve flexible working arrangements, adjusted deadlines, or support systems that accommodate personal commitments.
What strategies do you employ to identify and nurture talent within your organisation? What are your plans to develop young Omanis, develop their skills, and move up the management ladder?
Talent development is one of my priorities at ODP, and we have put a robust system in place to foster it. One of the initiatives I’m most proud of is the Sahab Programme, a structured training program aimed at upskilling
young Omanis. This programme is specifically designed to equip them with both technical and soft skills that are critical in today’s job market. Over a period of 12 months, these young professionals get hands-on training in AI, IoT, and cybersecurity, among other high-demand skills, while also developing essential communication and teamwork abilities.
While I’d love for all Sahab Programme participants to stay with us, the broader aim is to prepare them to contribute to Oman’s economy wherever they choose to work. It’s a contribution to Oman’s economic diversification through In-Country Value (ICV) creation, and a personal commitment of mine.
Developing talent within ODP means we’re not just growing the company; we’re creating a pipeline of skilled professionals who can take on leadership roles, either with us or in other sectors across the nation. This pathway gives young Omanis a clear
route to rise within the company and into management, ensuring that they have the skills and mindset to lead.
What personal traits or habits do you consider vital for success as a CEO?
Success as a CEO requires a disciplined and balanced approach to personal and professional life. Discipline is the cornerstone of my leadership style, not just in work but in character, thought, and action. Consistency and integrity are crucial in decision-making, as they set an example for the entire team. I draw inspiration from Jim Collins’ book ‘Good to Great’, where the concept of disciplined habits is central – remaining disciplined in all aspects of life leads to sustained growth and excellence.
Another vital trait is humility. I believe a leader should speak less and listen more, especially in meetings. Minimal talk from a leader signals confidence in the team’s abilities, empowering them to share their insights and perspectives. For me, humility means
understanding that leadership is about supporting the team, not dominating it, and that success is a team achievement rather than an individual one.
Emotional intelligence and maintaining a positive mindset are also key. I actively avoid what I call “getting in the box,” or allowing negative thinking to limit my perspective. Emotional intelligence is vital to stay optimistic and level-headed, especially in situations outside of one’s control. This trait will enable a leader to address challenges constructively and focus on finding solutions rather than dwelling on problems.
Continuous learning is a habit I prioritise to stay current and open-minded. I make it a point to read regularly, as I believe diverse perspectives spark innovative thinking. This intellectual growth is balanced by physical exercise, which I find essential to complement mental well-being. Physical wellness enhances cognitive function, helping
me stay focused and resilient.
Finally, goal-setting and focus are integral to my approach. I am intentional about setting specific, measurable goals rather than vague objectives. Clear goals keep me and my team aligned, moving forward with purpose and clarity. Staying focused is crucial to achieving these goals without unnecessary distractions. I also advocate outsourcing or delegating non-essential tasks, which allows me to concentrate on high-priority objectives.
Which emerging technological trends do you think will influence the future of leadership, and how are you preparing for them?
Artificial intelligence is undoubtedly one of the most transformative trends of our time, and I believe it will redefine leadership across industries. AI is becoming as vital today as IT was a few decades ago, and leaders need to understand its potential to stay competitive. At ODP, we’re actively integrating AI into our operations, but we’re also prioritising the development of AI expertise within our team. The Sahab Programme is also a way of preparing for this future, as it includes AI as a core part of the curriculum. My aim is for my team, and particularly our younger employees, to not only understand AI but to apply it in ways that enhance our work and the solutions we provide.
As a leader, embracing AI means being
ready to evolve – whether it’s in decisionmaking, strategy, or team dynamics. Leaders will need to adapt, learn, and reimagine traditional approaches, as AI shifts the way we interpret data, solve problems, and engage with customers. Preparing for this shift is not just about adopting new tools; it’s about fostering a mindset of adaptability and innovation within the team.
Looking ahead, what management insights do you think will be crucial for leaders in the next decade? In the coming decade, I believe management will require a deeper emphasis on adaptability, collaboration, and technological acumen, especially with the rapid growth of AI – as I’d just stated before. AI will not only transform industries but redefine the skills and mindsets needed in leadership. At ODP, we’re already preparing for this by embedding AI into our operations and encouraging our team to build their skills. Leaders who prioritise this will not only enhance their teams’ efficiency but also gain a significant edge in anticipating market trends.
Another insight that I find crucial is fostering a people-centric culture. Culture forms the foundation upon which strategy can succeed; as the saying goes, “Culture eats strategy for breakfast.” Leaders must prioritise a supportive and empowering workplace culture to drive innovation and collaboration. At ODP, this
approach means treating every team member with respect and creating an environment where they can take ownership of their work without fear. Quarterly gatherings and open communication channels are part of this, as they strengthen trust and engagement. A strong, people-centered culture is essential for retaining talent and ensuring sustained organisational growth.
Empowerment is also a key factor for future leadership. Leaders should act as enablers, providing resources and support rather than imposing control. This allows team members to lead in their own areas of expertise, fostering a collaborative, rather than top-down, style of management. This is also crucial for unleashing creativity and enabling each team member to contribute fully to the organisation’s goals. This is why, at ODP, we emphasise team autonomy and focus on removing barriers rather than micromanaging.
Lastly, continuous upskilling will be critical. Leaders must facilitate learning, both for themselves and their teams. To stay competitive, organisations need to invest in structured programmes for skills development. As technology and industries evolve, leaders who commit to continuous learning and skillbuilding will be better positioned to navigate changes and drive innovation effectively.
STRATEGIC COLLABORATION
Oman Data Park signs service agreement with Government of Zanzibar to enhance the current e-procurement services to revolutionise e-Government services in Zanzibar
In a landmark development, Oman Data Park (ODP), the Sultanate’s pioneering provider of managed cybersecurity and cloud services, signed a service agreement with Government of Zanzibar’s Contractor Ozone Limited Solutions to expand the “ePROZ” services provided to the Government of Zanzibar. This strategic partnership introduces two advanced modules from JAGGAER ONE: eProcurement and Invoicing, aimed at significantly enhancing the procurement and accounts payable processes within Zanzibar’s government departments. The official signing ceremony was held on September 29 at the Sheraton Hotel, marking a key milestone in the partnership.
The JAGGAER ONE eProcurement module will equip the Government of Zanzibar with robust catalog management tools and an intuitive eCommerce interface, enabling informed purchasing decisions in alignment with procurement policies. Features such as configurable request forms, smart search technology, and a private supplier marketplace will enhance compliance and promote cost-effective procurement practices. Simultaneously, the JAGGAER ONE Invoicing module will automate invoice receipt and management, streamlining workflows and eliminating paper-based processes to significantly reduce processing times. This module will also provide enhanced self-service capabilities for suppliers, fostering greater engagement and enabling real-time data analysis to optimize accounts payable performance.
Maqbool Al Wahaibi, CEO of Oman Data Park, stated, “This collaboration represents a significant leap forward
in our shared vision for digital transformation across the public sector. By harnessing the power of advanced technology, we aim to create a more transparent, efficient, and accountable governance structure for the Government of Zanzibar. Our commitment extends beyond mere service provision; we are dedicated to fostering a culture of innovation that will empower governmental institutions to better serve their citizens.”
The partnership follows a successful visit by a high-level Tanzanian delegation to Oman, which took place from September 27 to September 30, 2024. The delegation, comprising approximately 20 members, included four distinguished ministers: Dr. Saada Mkuya Salum, Minister of State, President’s Office Planning and Finance; Shariff A. Shariff, Minister of State, President’s Office Labour,
and Industrial Development, Zanzibar; and Stanslaus Haroon Nyongo, Deputy and Investment.
Oman Data Park’s partnership with the Government of Zanzibar’s contractor Ozone Limited Solutions marks a significant milestone in enhancing governmental efficiency and service delivery in Zanzibar. With the introduction of such services, Oman Data Park is not only reinforcing its commitment to digital transformation but also paving the way for sustainable growth and innovation.
This collaboration embodies its vision of fostering technology-driven solutions that empower governments and elevate the quality of public services for citizens.
PARTNER OF CHOICE
Vishal Goenka, Managing Director, Imtac shares his thoughts on the company’s contribution to Oman and its operations. Mayank Singh reports
Can you give us an overview of Imtac and its operations?
Imtac has completed its 40 years of operations in 2024. It is the first company in Oman to receive a Green Card by the Ministry of Manpower in 2002 and since then we have maintained the Green Card status. Imtac is the largest technology company in Oman and a major player in the region. We work closely with top rated Global partners to ensure that the country gets the most advanced technology.
Imtac has a broad customer base including banking, ministries and administration, oil & gas, healthcare, telecommunication, municipalities, education, aviation etc. Our products and services offering include IT infrastructure, security solution, data management, cloud computing, digital transformation, AI driven applications, smart city solutions, efficiency monitoring and management, software development, Healthcare technology infrastructure and management systems and the list can go on as the usages of technology is in every field and growing faster than ever.
Innovation has been at the heart of Imtac. How has this vision furthered your business?
The advantage, which the company brings to clients, is that we customise solutions based on a customers’ requirement helping them to increase their efficiency and productivity. As the requirements of every customer is unique, they require different solutions and this is only possible through continuous innovation and development.
We are also skilling Omanis in the very promising technology sector through various certification and continuous learning programmes.
We have been instrumental in the supply and maintenance of five payment system projects of national
importance, with this association spanning nearly two decades. The payment systems include RTGS, ACH, OmanNet, SSS, and ECC. Imtac has also received the GCC Award for Best Electronic Services in the business sector for its Electronic Cheque Clearing (ECC) solution.
A one-of-its-kind digital transformation in government tenders in the Sultanate, this eTendering solution has won the GCC e-Governance Award for Best government-to-government Solution. It has connected more than 100 different government entities, published over 20,000 tenders, and onboarded at least 15,000 suppliers from across the globe. This 100 per cent paperless solution has been serving Oman for the last two decades.
Possibly the first-ever digital transformation project in a government entity in the Sultanate, Imtac, in collaboration with Muscat Municipality, successfully converted citizen services into digital services around 15 years ago, despite the technology being less mature at that time. I am proud to share that the company has been honoured with the Sultan Qaboos Award for Excellence in e-Governance for its G2B (Governmentto-Business) solutions.
Imtac also associated with Muscat Municipality for the smart IOT based streetlight automation for around 25,000 poles, which has resulted in 80 per cent energy savings (bill reduction) for the Muscat Municipality.
We have has also collaborated with the Royal Oman Police for the supply and implementation of traffic surveillance radar cameras across the Sultanate. The German technology solutions offers near-perfect accuracy, and their implementation has contributed to a nearly 35 per cent reduction in road accidents.
Our ability to combine deep
technological expertise with a keen understanding of industryspecific challenges allows us to drive operational efficiency and innovation across its portfolio
What is the unique selling proposition (USP) which the company offers to its customers? Imtac’s unique selling proposition (USP) lies in being a local company with global expertise, blending Omani and international engineers across various fields. To offer the following:
Innovative solutions: Offering cuttingedge technologies, staying ahead of industry trends, and continuously innovating to provide the latest IT solutions.
Comprehensive services: Providing a wide range of services, such as endto-end IT consulting, infrastructure, software development, cloud solutions, cybersecurity, and managed services, allowing clients to meet all their needs from one provider.
Strong expertise and talent: Employing a skilled workforce with expertise across different IT fields, combining local knowledge with global best practices to deliver high-quality services.
Client-centric approach: Focusing on understanding client needs and maintaining long-term relationships by providing exceptional customer support, flexibility, and responsiveness.
Proven track record: Demonstrating success through a history of delivering large, complex projects for reputable clients, often backed by industry awards or certifications.
Sustainability and Corporate
Responsibility: Being aligned with green IT practices and contributing to the local economy through job creation and skill development, which resonates with socially conscious clients.
Please share Imtac’s key business units along with their offerings? The table above encapsulates the range of our business and key offerings.
Imtac has executed a number of projects of national importance. Can you share a few examples with our readers?
Imtac has been a long-standing partner of the government. We have executed a number of projects of national importance including the following:
Government Cloud based Tendering Solution (GTB)
I. We receives the GCC e-Governance Award for Best Government-toGovernment Solution
II. The project included 80+ government entities, 10,000+ tenders and 12,000+ suppliers
Automated Cheque Clearing (CBO)
I. GCC award for Best Electronic services in the Business Sector
II. The project was done for the Central Bank of Oman
OMANET - National ATM/POS Network (CBO)
I. The system was inter-connected to 22 local banks
II. 5 GCC National switches
III. Cost benefit to customer - replaced Mastercard/Visa network for interbank ATM/POS transactions
Building Permit e-Services (Muscat Municipality)
IV. We won the Sultan Qaboos Award for excellence in e-governance G2B solution
Smart & Connected Lighting for Road/ Highways/Recreational Facilities for Muscat Municipality
I. 50,000+ LED Lights, 450+ IoT controllers
II. 80% savings in energy cost
Speed and Traffic Surveillance (ROP)
I. 50% reduction in accident fatalities in last 5 years
II. 27% reduction in road accidents
=Enterprise Technology Refresh for Bank Muscat
I. Imtac undertook a technology refresh for 30+ banking systems
II. Upgrade and migration for Operating system, databases, middleware and application including security compliance
eMining Portal – TAQA (Ministry of Energy and Minerals – Under implementation)
I. Digital Experience Portal that
enables single window clearance for all Mining permits and certificates
II. Over 100+ digital services
Social Benefit Solution (Ministry of Social Development)
I. Social Security Assistance, Disability Aid, Rehabilitation services etc.
II. Over 70+ digital electronic services for disadvantaged citizens
Oman Vision 2040 plan places special importance on technology enablement and innovation. How is Imtac contributing to these national priorities?
Imtac is actively contributing to Oman’s Vision 2040 by aligning its business strategies with the national goals of technology enablement, innovation, and sustainable development. As Oman looks to diversify its economy and enhance technological infrastructure, Imtac plays a critical role in driving these efforts through a variety of initiatives and projects.
Oman Vision 2040 emphasises the need for digital transformation across government, business, and society. We are at the forefront of this transformation by providing advanced IT services and digital solutions across multiple sectors.
Oman’s Vision 2040 prioritises improving healthcare outcomes through technological innovation. Imtac’s work in healthcare is directly aligned with this goal, helping to enhance healthcare access, quality, and efficiency.
Vision 2040 emphasises the importance of efficient resource management and environmental sustainability, which is an area where Imtac contributes significantly through smart utilities and infrastructure projects. Fostering a culture of innovation is a key pillar of Oman Vision 2040, and Imtac plays a role in promoting entrepreneurship and technological innovation within Oman’s business ecosystem.
Oman Vision 2040 places significant emphasis on sustainability and Imtac is contributing by implementing green technology solutions across various sectors. Similarly, the Vision plan calls for robust infrastructure and resilient public services. Imtac’s contributions to national security and critical infrastructure include implementing advanced systems for monitoring, cybersecurity, and emergency response.
A technology company like Imtac LLC can significantly contribute to Oman’s development in several ways:
1. Digital transformation: By providing advanced technology solutions, Imtac can help various sectors in Oman, such as healthcare, education, and government, to digitise their operations, improving efficiency and service delivery.
2. Economic diversification: Imtac can support Oman’s vision of diversifying its economy away from oil dependency by fostering innovation and creating new tech-driven industries and job opportunities.
3. Skill development: We can help develop a skilled workforce in Oman, equipping locals with the necessary skills to thrive in a digital economy through training programs and partnerships with educational institutions.
4. Smart Infrastructure: Imtac can contribute to the development of smart cities and infrastructure in Oman, enhancing urban living
through IoT, AI, and other cutting-edge technologies.
5. Sustainability initiatives: By implementing and promoting green technologies, we can help Oman achieve its sustainability goals, reducing carbon footprints and promoting renewable energy solutions.
6. Cybersecurity: Ensuring robust cybersecurity measures and protecting Oman’s digital infrastructure from cyber threats, safeguarding sensitive data and maintaining trust in digital services.
7. Innovation Hub: Imtac can act as an innovation hub, encouraging startups and entrepreneurs to develop new technologies and solutions, fostering a culture of innovation and entrepreneurship in Oman.
8. Global Competitiveness: By staying at the forefront of technological advancements, we can help Oman become more competitive on a global scale, attracting foreign investments and partnerships.
CUSTOMER-CENTRIC VISION
Bank Muscat hosts seminar on Global Financial Markets for its Corporate and Institutional Customers
Bank Muscat, the leading financial services provider in the Sultanate of Oman, recently hosted a seminar on Global Financial Markets, which witnessed an engaging participation by a number of officials representing different institutions and corporates. The event was organised as a part of a series of events held to raise awareness around latest developments in financial markets and their impacts on the day-to-day business of the customers.
The seminar focused on a variety of subjects connected to the most recent changes in global financial markets as well as estimates for the global economy’s performance in the coming years. By continuing to conduct such events, Bank Muscat aims to shed light on numerous themes concerning the world economy, its prospects, and global financial markets. The seminar series is another effort by the
flagship financial institution in Oman to maintain its thought leadership in enabling its customers decipher the events in global financial markets The Bank is focused on diversifying its customer engagements through such seminars and organising talks by experts from other fields to highlight the most recent advances in various areas of interest.
The Bank is keen to keep its customers aware of the dynamics of global financial markets are changing at an unprecedented rate, creating a landscape that is both challenging and promising. With an extended customer base, Bank Muscat understands the enormous responsibility it holds in fulfilling the requirements of customers who are fundamental to its purpose, and is committed to consistently improving services, products, and initiatives to line with customers’ objectives. By keeping up with the most recent developments
in the banking industry, Bank Muscat strives to meet the expectations of customers by consistently improving its products and services. It makes every effort to give them the best possible experience. With an ever-expanding customer base in all governorates, the bank has been successful in maintaining people’s trust for more than 40 years.
As the leading financial services provider in Oman, Bank Muscat has been keenly playing its role in supporting the national economy and has witnessed many successes and achievements in the development of various sectors. In particular, the Bank has contributed to the success and growth of both large corporates as well as a number of small and medium-sized businesses. The bank will continue to implement its customer-centric vision through a keen understanding of customer needs to achieve its current and future goals.
COLLABORATIVE APPROACH
successfully concluded the two-week Ecosystem Readiness Lab, outlining a total of 26 initiatives designed to deliver Oman’s 2030 green hydrogen production targets. The multisector initiatives, covering five key focus areas—Permits, Contractors, Workforce Development, Logistics, and Local Content—are set to be submitted for approval following final review from the overseeing steering committee in few weeks.
Once approved, the initiatives will play an instrumental role in propelling Oman’s strategic objectives, driving increased private sector investment, fostering entrepreneurial innovation, and enhancing the national ecosystem’s readiness for green hydrogen projects; all the while
Ahmed Ibrahim Al Abri, Planning and Regulatory Manager at Hydrom commented, “The outcomes of the Ecosystem Readiness Lab are a major milestone in our journey to build a robust and sustainable green hydrogen ecosystem in Oman. Through the alignment of our public and private sectors, we are setting the stage for long-term success. This collaborative approach underscores our shared commitment to sustainability, economic diversification, and positioning Oman as a leader in the global green energy transition.”
The first workstream, focusing on the construction and engineering sector, has outlined a six initiatives aimed at
tender information package, facilitating partnerships between local and international contractors within targeted supply chains, and launching a marketing campaign positioning Oman as a global leader in green hydrogen.
Additionally, a platform will be created to connect developers with local contractors, while industry standards for green hydrogen projects will be established within the framework of the National Green Hydrogen Center. Finally a pilot green hydrogen production project has also been propsed to further drive sector development.
The second workstream addressed the current and future needs of
in line with international practices, tracking employment opportunities within the hydrogen sector, and facilitating the recruitment of specialized talent to strengthen local expertise. Furthermore, proposals aimed at improving the qualifications of local engineering consultants and increasing awareness through educational programs in schools and colleges were put forward to ensure a well-prepared workforce for the sector’s future growth.
The third workstream reviewed the current regulatory framework, particularly in relation to permits, in an effort to simplify procedures to enable faster project execution. A central initiative proposed was the “single permit” system, designed to streamline the approval process
networks, and supply chains.
The three proposed initiatives included conducting a comprehensive logistics study that covers key roads, ports, and related facilities, assigning Asyad Group the responsibility for developing and managing the integrated logistics system for the hydrogen sector, and establishing a monitoring platform to coordinate and regulate the smooth flow of supply chains for hydrogen projects.
The fifth workstream, focused on local content, sought to identify ways to enhance the participation of local businesses throughout the green hydrogen value chain, while promoting innovation and stimulating investment in the alternative energy sector. Eight key initiatives were
and the founding of the National Green Hydrogen Center for research, development, testing, and capacity building. Additional initiatives included local manufacturing of trailers for hydrogen supply chain components, the localization of wind turbine tower production, and a study to mitigate risks associated with securing essential raw materials.
The implementation of the 26 initiatives will secure Oman’s position as a leader in green hydrogen production and export, reaffirming the nation’s deep commitment to sustainability and innovation. By advancing these efforts, Oman is on track to meet its 2030 green hydrogen targets, driving domestic growth and solidifying its role in the global clean energy transition.
EXCEPTIONAL BLEND
COYA Muscat debuts at The St. Regis Al Mouj Muscat Resort with a spectacular grand opening
Cdestination for exquisite Peruvian cuisine and immersive cultural experiences, made its highly anticipated debut in Muscat with an unforgettable grand opening event. The impressive affair, attended by VIPs and media personalities, showcased the best of COYA’s rich heritage and luxurious ambience.
The evening unfolded with a dazzling array of entertainment, including specially curated music from the COYA label, an international DJ spinning captivating tracks, and live performances that set the tone for an evening of sophistication and celebration. For the uninitiated, COYA
curates a diverse lineup of talented artists and DJs, with a focus on South American and Spanish influences that blend Latin rhythms with modern electronic elements.
The opening ceremony indulged guests with a tantalising introduction to Peruvian cuisine, featuring a selection of delectable dishes that were passed around, in a family style-format. This presentation highlighted COYA’s commitment to deliver an immersive and interactive dining experience. The opening comes after a month-long soft launch period, during which the COYA Muscat team underwent extensive training to ensure impeccable service and a seamless guest experience.
inspiration directly from Peru, featuring authentic artefacts, bespoke furnishings, and vibrant murals that transport visitors to the heart of Latin America. Tropical plants at the entrance create a lush, inviting atmosphere, making a memorable first impression.
Adding to the allure, COYA Muscat boasts a stylish outdoor seating area adjacent to The St. Regis Al Mouj Muscat Resort pool. This space will soon host COYA’s famed weekend brunches, continuing the venue’s tradition of offering exceptional culinary experiences. As part of a strategic alliance with Alfardan Group, COYA, at The St. Regis Al Mouj Muscat
Pizzini, COYA Middle East’s Director of Operations, stated: “Our team has worked diligently to create an authentic and timeless experience that reflects the essence of Peru. We are proud to offer Muscat a dining venue where exceptional food, vibrant music, and beautiful art come together. This
COYA has swiftly established itself as a leader in luxury dining, expanding its presence to iconic cities such as Dubai, Abu Dhabi, Monte Carlo, Paris, Mykonos, Doha, Riyadh, Marbella, and Barcelona. Each venue exemplifying COYA’s unwavering commitment to authentic Peruvian cuisine, vibrant art,
standards in the luxury hospitality industry. Commenting on the grand opening, Jason Xuereb, Hotel Manager, The St. Regis Al Mouj Muscat Resort, said, “This opening enhances our already vibrant food and beverage offerings, bringing a unique and engaging Latin American dining experience to our guests. COYA’s exceptional blend of Peruvian cuisine, enchanting music, and stunning design perfectly complements the luxury and elegance of our resort. We look forward to seeing COYA Muscat become a premier destination for both our guests and the local community.”
Reiterating similar sentiments, Stefano
Guests at COYA Muscat can indulge in a menu that celebrates traditional Peruvian dishes with a modern twist, including ceviches (marinated seafood), tiraditos (sashimi-style fish), and anticuchos (marinated meat skewers). COYA MUSIC delivers a unique soundscape blending South American and Spanish influences.
Art also plays a central role at COYA, with each venue showcasing works by both established and emerging artists, transforming the dining experience into a cultural journey. Since its inception in London’s distinguished Mayfair district in 2012,
experience a new standard in luxury dining, where exceptional food, vibrant music, and artistic expression converge to create a truly immersive Latin American adventure.
REDEFINING LUXURY
Al Mouj Muscat, Oman’s premier lifestyle destination has set a new standard in golf course living by introducing the Golf Link Residences, a collection of elegant apartments and residences nestled on the lush fairways of Al Mouj Golf. The highly anticipated neighbourhood is set to become one of the most desirable residential options as it redefines luxury living with breathtaking views,
premium amenities, and unmatched benefits. Featuring only 28 luxurious four-bedroom residences and a range of one to three-bedroom apartments, the exclusive neighborhood seamlessly integrates ‘the luxury of nature’ into
every detail of its design to catch the eye of today’s discerning homebuyers and investors. The bespoke residences are designed for medium to large families, and are spread over two floors with living, entertainment,
living experiences remains steadfast, and we look forward to welcoming new residents to our ever-growing community.”
Saleh Al Siyabi, Vice President, Sales at Al Mouj Muscat, said the project featuring a range of one to threebedroom apartments and fourbedroom residences, is expected to be completed within two to two-anda-half years. “The demand has been outstanding and we expect a sellout.”
Al Mouj Muscat’s Golf Links seamlessly integrates with nature, enabling residents’ easy access to top hotels such as The St Regis Al Mouj Muscat Resort offering a variety of culinary experiences as well as the upcoming 5-Star Okura Resort Muscat. The community is designed with fitness connected pathways for walking, running, biking, and buggy rides, along with on-call transport to retail areas, the marina, hotels, and golf precincts.
In addition to its attractive payment plan for Omanis and non-Omanis, Al Mouj Muscat offers 100 per cent foreign ownership, enabling individuals and families to enjoy their lifestyle in Oman.
CATALYST FOR INNOVATION
The 4th edition of the OERLive DX 2024 focussed on digital transformation of the oil & gas, power and water sectors
Muscat, Oman – OERLive, the Sultanate of Oman’s leading digital business platform, successfully hosted the fourth edition of the highly anticipated OERLive DX 2024 conference, titled “Embracing the Next Era of Digital Transformation.” Held at the Sheraton Oman Hotel on September 30th, the event brought together industry leaders, innovators, and policymakers to explore the rapidly evolving digital landscape.
The conference was held under the esteemed patronage of His Excellency Engineer Bader Al Maamari, Secretary General of the Tender Board, and honored by the presence of His Excellency Sheikh Faisal Abdullah Al Rawas, Chairman of the Board of Directors of the Oman Chamber of Commerce and Industry.
This year’s edition featured more than 20 influential speakers from diverse sectors, offering deep insights into the dynamic world of digital transformation. The discussions centered on cutting-edge technologies shaping the future, including Artificial Intelligence (AI), Machine Learning, Big Data, Tokenization, Open Banking,
and Data-driven Risk Analytics. These technologies were examined not just as tools but as catalysts for innovation across industries, from banking and finance to energy, healthcare, and beyond. A key highlight of the event was the exploration of Oman’s rapidly growing IT and IT infrastructure sectors. Experts and thought leaders discussed how these sectors are becoming increasingly vital contributors to the nation’s GDP. Special focus was placed on strategies to further strengthen Oman’s digital ecosystem, positioning the country as a leader in the region’s digital transformation journey.
Two highly engaging panel discussions formed the cornerstone of the event, diving deep into the themes of “Harnessing AI & Machine Learning for Industry Innovation” and “Driving Sustainability Through Digital Innovation in the Power, Energy & Water Sectors.” These discussions emphasized the role of AI and machine learning in reshaping industries, while also underscoring the importance of digital solutions in fostering sustainability, particularly in critical sectors such as energy and water.
The event garnered overwhelming support from prominent national and international organizations. Notable entities such as the Oman Chamber of Commerce & Industry, ITHCA Group, and OITS played pivotal roles in its success. The event was also bolstered by an impressive lineup of partners,
including Daleel Petroleum as the Strategic Partner – Energy, VEOLIA –Sharqiyah Desalination as the Strategic Partner, and imtac as the Technology Partner. In addition, ahlibank was the Digital Banking Partner, bringing its expertise in banking innovation, while Taageer Finance joined as the Official NBFC Partner. Other key partnerships included Al-Maha Petroleum Products Marketing Company and Infoline as Associate Partners, Modern College of Business & Science as the Academic Partner, Oman Data Park as the Digital Transformation Partner, Dhofar Insurance Company as the Insurance Partner, United Securities as the Asset Management Partner, Bima as the Online Insurance Partner, and Changan Auto as the Auto Partner.
The conference not only offered a platform for knowledge sharing but also served as a bridge between sectors, fostering collaboration and
laying the groundwork for future innovation. As Oman continues to embrace digital transformation, events like OERLive DX play a crucial role in shaping the narrative, bringing together the best minds to address challenges and seize the opportunities presented by the next era of technological advancement.
List of Winners
Leaders in AI-Enabled Customer Experience
Excellence in Digital Banking
Excellence in Digital Transformation for Energy Efficiency
Educational Excellence through Innovation and Technology
Digital Leadership in Banking
Technology Company of the Year
Best Tech-Integrated SUV of the Year
Excellence in Digital Transformation in the Insurance Sector
Technology Pioneer of the Year
Pioneers in Digital Islamic Banking
IT Leader of the Year
Business Excellence in Sustainable Digital Transformation in Desalination
Leading Digital Revolution in Securities, Research, and Brokerage in Oman
Tech Transformation Leader of the Year
CEO of the Year in the Energy Sector
Pioneer in Artificial Intelligence & Digital Transformation Award
30 Years of Excellence in Securities and Brokerage
Infoline
ahlibank
Daleel Petroleum
Modern College of Business and Science
Sohar International
Oman Data Park
Changan CS95 4WD
Dhofar Insurance Company
Taageer Finance
Bank Nizwa
imtac
Sharqiyah Desalination Company – Veolia
United Securities LLC
Said Al Rashdi, CEO of Bima Insurance
Eng. Hamed Al Maghdri, CEO of Al Maha Petroleum Products Marketing Company SAOG
Saud Al Zakwani
United Securities
A GAME-CHANGER
Porsche Centre Oman hosts two electrifying events to mark the launch of the new Macan SUV EV and the improved Taycan Sports Sedan and Cross Turismo
An invitation-only evening at the St. Regis Hotel on October 17, which coincided with Omani Women’s Day, and a two-day media presentation on October 20-22 at Porsche Centre Oman’s showroom were the highlight events to launch the all-new, secondgeneration Macan SUV alongside the improved and updated Taycan Sports Sedan and Cross Turismo range.
Ten years after its launch, the Porsche Macan SUV is debuting its secondgeneration model as an all-electric range. In combination with Launch Control, the Macan 4 produces up to
300 kW (408 PS) of overboost power, while the Macan Turbo boasts up to 470 kW (639 PS).
The maximum torque is 650 Nm and 1,130 Nm respectively and while the Macan 4 accelerates to 100 km/h in 5.2 seconds and has a top speed of 220 km/h, the Macan Turbo covers the same distance in just 3.3 seconds and tops out at 260 km/h.
Taycan ushered in a new era of e-mobility at the end of 2019 and with just under 150,000 produced since, a refreshed version brings more power, better range, faster acceleration and
faster charging times with sharpened looks and a refreshed interior.
“When Taycan introduced full electrification to Porsche in 2019, it was a game-changer for performance motoring, so bringing further improvements and a fresh look is exciting, while the new Macan is going to have a similar, positive impact on the performance SUV sector as well,” Elias Awad, Brand Manager for Porsche Centre Oman, said.
“We are incredibly excited to welcome these two new additions to Oman as they represent the expanding appeal
of Porsche to a wider audience. The opportunity to link this with Omani Women’s Day was an opportunity we could not pass on, to show these important new models to Oman’s high society female influencers, VIP guests and prospective customers. This was an exclusive evening by invitation only with live music, displays by two local Omani fashion designers who displayed Macan-inspired collections, and a Provence exclusive Nail station.”
Porsche Macan
The second generation, all-electric Macan delivers E-Performance on any terrain with a high level of day-to-day usability along with sports-car-like performance figures matched by up to 613 km of range in WLTP and DC fast charging of up to 270 kW. The battery can be charged from 10 to 80 per cent within approximately 21 minutes at a suitable fast-charging station.
Two electric motors are controlled via the power electronics almost in real time. The electronically controlled Porsche Traction Management (ePTM) operates around five times faster than a conventional all-wheel drive system and can respond to slip within 10 milliseconds.
The wheelbase, which is 86 mm longer than the previous model (2,893 mm), is offset by short overhangs at the front and rear. The headlights are divided into two parts: the flat upper light unit with four-point daytime running lights is embedded in the wings and emphasises the width of the car
Porsche Taycan
Four powertrain options with rear and all-wheel drive variants are available for the new Taycan Sports Sedan while the Taycan Cross Turismo is available with three powertrain options with
all-wheel drive.
Depending on the body variant and engine, the WLTP range has increased by 175 km, or 35 per cent up to 678 km while requiring not only fewer charging stops on long trips than its predecessor, but it also recharges faster than the previous version.
The first-generation Taycan achieved a charge time of 37 minutes from 10 to 80 per cent SOC at 15 degrees Celsius whereas the new Taycan takes 18 minutes under the same conditions despite its larger battery capacity. The Performance Battery Plus now has a gross capacity of 105 kWh, up from 93 kWh.
Porsche has covered more than 3.6 million kilometres around the world to keep improving its first all-electric sports car.
ENHANCING PEFORMANCE
Mercedes-Benz EQS models’ arrival supports Oman’s EV uptake
Mercedes-Benz Oman has announced the arrival of the new EQS Sedan and EQS SUV, two groundbreaking all-electric models that set new benchmarks in technology, performance, and sustainable mobility.
Mercedes-Benz’s commitment to zero CO₂ emission driving and its Ambition 2039 aligns with the increasing availability of electric vehicles (EV) in Oman to meet the growing
demand. The electric vehicle (EV) market in Oman is expected to grow at a compound annual growth rate (CAGR) of approximately 12.2 per cent between 2023 and 2028. According to 6Wresearch, this growth is driven by government initiatives aimed at reducing fossil fuel dependency and promoting sustainability, in line with Oman’s Vision 2040. The government has set a target for 10 per cent of the country’s vehicles to be electric by 2030. MarkNtel Advisors reported that public EV charging stations in
Oman saw a 30 per cent increase in 2023, with further infrastructure developments planned to facilitate EV adoption across the country. In addition to infrastructure expansion, the EV market has seen a 15 per cent year-on-year rise in imports, with more luxury and mainstream brands introducing electric models into the Omani market. According to a 2023 survey by Mordor Intelligence, 60 per cent of Omani consumers are now considering an electric vehicle for
Advanced Electric Powertrains: Available in configurations such as the EQS 450+ with 265 kW (360 hp) and the EQS 580 4MATIC with 400 kW (544 hp), the EQS Sedan delivers both dynamic performance and efficient energy consumption.
Next-Generation Battery Technology: Equipped with a high-energy-density battery offering 118 kWh of usable energy, the EQS supports fast charging and over-the-air updates to keep its systems optimized throughout its lifecycle.
MBUX Hyperscreen: The EQS features the MBUX Hyperscreen, a groundbreaking display that spans the entire dashboard, integrating multiple screens under a single glass panel to provide a seamless and intuitive user interface.
Enhanced Energy Management: The EQS Sedan utilises intelligent energy recovery systems and ECO Assist to maximise range and efficiency, adapting to driving conditions and traffic in real-time.
Innovation Meets Versatility
The EQS SUV brings the same level of innovation and technological prowess to a new, versatile format. It is designed to offer maximum space, comfort, and adaptability, making it suitable for a wide range of driving conditions.
Key Technological Features of the EQS SUV: Flexible Interior Configuration: With the optional seating for up to seven passengers and customisable interior space, the EQS SUV caters to both family and individual needs.
Intelligent Drive Systems: The EQS SUV is equipped with powerful electric motors, 4MATIC all-wheel drive, and an intelligent OFFROAD mode, ensuring it can handle a variety of terrains with ease.
Advanced Aerodynamics and Efficiency: The SUV’s design benefits from the same aerodynamic principles as the sedan, offering a unique blend of space and efficiency with a driving
range of up to 660 kilometers on a single charge.
Cutting-Edge Safety Features: The EQS SUV includes advanced driver assistance systems, rear-axle steering, and the ENERGIZING AIR CONTROL Plus system for enhanced air quality inside the vehicle.
MBUX Technology: Just like the EQS Sedan, the SUV features the MBUX Hyperscreen, providing an immersive and connected experience for all occupants.
Mercedes-Benz continues to push the boundaries of sustainable mobility with the EQS Sedan and EQS SUV. Both models are produced in a CO2-neutral manner, underscoring the brand’s dedication to reducing its carbon footprint and promoting responsible resource use. The EQS Sedan and EQS SUV are now available at MercedesBenz Oman showrooms. Customers are invited to visit and experience the future of electric mobility.
BILLBOARD
Bahar rewards its loyal customers with Oman’s first-ever Tesla
Bahar, the flagship brand of National Detergent Company (NDC), held an exciting prize distribution event for its “Buy Bahar Own Your Dream Tesla” campaign at Oman Avenues Mall recently. The highlight of the event was the announcement of the grand prize winner of a Tesla Model Y, marking a significant first for Oman, alongside 75 additional high value prizes for Bahar customers.
Running from July 25 to October 7, 2024, the “Buy Bahar Own Your Dream Tesla” campaign encouraged customers to purchase any product from Bahar, No.1, Pinex, Farah, or Spark for as little as RO3 making the promotion accessible to a broad audience. By simply entering their details, participants had the chance to win the grand prize of a Tesla Model Y and an array of valuable gifts, including gift vouchers, washing machines, iPhones, and Samsung Galaxy phones. This campaign stands out as the first of its kind in Oman to offer a Tesla as a prize, adding a unique allure to the promotion. Mohamad Abdul Hussain Bhacker, Chairman of National Detergent Company, commented on the campaign’s impact: “This campaign has been a testament to our dedication to rewarding our customers in extraordinary ways. We are thrilled to present Oman’s first-ever Tesla prize in a promotion, and witnessing the excitement from our customers has been incredibly fulfilling. Our aim has always been to create great moments and lasting memories, and today we achieved exactly that.” Murali Sundar, CEO, NDC, added, “The success of the
ahli islamic opens new branch in Al Suwaiq
ahli islamic has announced the grand opening of its latest branch in the Wilayat of Al Suwaiq. Established to offer premium Sharia-compliant banking products and services, the new branch will cater to the diverse needs of its growing customer base. The launch event was held recently under the auspices of H.E Sheikh Issa bin Ahmed Al Mashani, Wali of Al Suwaiq.
Placed in the historically rich Wilayat of Al Suwaiq, the new ahli islamic branch will serve as a vital hub for facilitating Sharia-compliant banking services. The Bank is committed to meeting the evolving needs of its discerning clientele, capitalizing on the growing opportunities in the region. This new branch underpins ahli islamic’s mission to provide exceptional value to its shareholders, thus culminating to become accessible to people all around the Sultanate of Oman.
Noora Sultan, AGM - Head of Retail Banking at ahli islamic stated, “It is with immense pleasure for all of us to announce our venture into Al Suwaiq. Equipped with a seasoned team of professionals, our latest branch promises to provide innovative, Sharia-compliant banking solutions in a state-of-the-art environment. As we proceed in our momentous journey, our expanding network of branches across the Sultanate is set to make a lasting impact on the Islamic banking industry.”
ahli islamic guarantees its new customers that it is prepared to go above and beyond, enhancing the development of financial services and Islamic banking in the region.
Inviting the people of Al Suwaiq to witness an unparalleled banking experience, Noora Sultan added, “We assure our customers that our commitment to integrity goes in-hand with our diligent efforts to exceed their expectations.
‘Buy Bahar Own Your Dream Tesla’ campaign has been unprecedented. The level of engagement and excitement from our customers has exceeded our expectations. Seeing the joy on the winner’s face as she received her Tesla is a highlight we will cherish. This campaign strengthens our commitment to offering more innovative promotions that resonate deeply with the community.
As we welcome new clients to the ahli islamic fold, we will continue in our stride to build solid and long-lasting relationships with them.”
Through the establishment of this new branch, ahli Islamic reinforces its commitment to growth and innovation, reflecting enthusiasm for expanding into newer and grander horizons. Established on a foundation of trust and reliability, the Bank underscores its unwavering dedication to provide its best for the people of Al Suwaiq.
BILLBOARD
Together in Purpose: Liva Insurance Commemorates One Year of Excellence
Liva Insurance, born from the integration of two of Oman’s leading insurance companies – National Life and General Insurance Company (NLGIC) and Al Ahlia Insurance – has swiftly become a trusted name in Oman’s insurance industry, representing both the continuity of excellence and the promise of transformation. A year ago, the historic integration laid the foundation for a new chapter in Oman’s insurance sector. What began as the union of two well-established brands has evolved into a company dedicated to securing the future of individuals and businesses across the Sultanate of Oman.
Backed by the business and investment powerhouse Ominvest, Liva Insurance has embraced the responsibility of not only providing exceptional insurance services but also contributing to Oman’s Vision 2040 by driving economic growth and creating In-Country Value (ICV). With over 80 years of combined experience in the Middle East, Liva Insurance is building on a legacy of trust and reliability. Yet, this legacy is not confined to the past; it continuously adapts to meet the ever-changing demands of today’s dynamic market.
In just one year, Liva has introduced a suite of customer centric products designed to cater to the diverse needs of clients, like the customer focused Rewards Program, and the convenient WhatsApp insurance service. Liva insurance has also made great partnerships within this year to enhance the customer experience, partnerships with giants like Omantel, Thawani and Badr Royal hospital are some of the many partnerships that Liva Insurance has embarked on this year. Liva Insurance’s efforts have not gone unnoticed.
Vodafone Oman and FRiENDi Mobile partner to elevate services with state-ofthe-art network
Marking a new milestone in the telecommunications sector, Vodafone Oman signed a long-term agreement to welcome FRiENDi mobile (A Beyond ONE Company) customers to its state-of-the-art network. The strategic partnership will enable Oman’s largest Mobile Virtual Network Operator (MVNO) to leverage Vodafone’s enhanced connectivity, faster speeds, and superior reliability to provide a next level service experience to its customers across the country starting December 2024. Vodafone Oman CEO, Bader Al Zidi said, “Welcoming FRiENDi mobile’s 800,000 customers onto our network is a significant step in our journey to elevate Oman’s telecommunications landscape. This partnership is a testament to the strength and scalability of our 5G NEXT LEVEL network technology that is designed to deliver Oman’s vision for a digitally empowered future. By onboarding FRiENDi mobile into our network, we are laying the foundation for innovation, growth, and the creation of new opportunities that will benefit Oman, first and foremost.”
FRiENDi mobile CEO, Shadli Al Abdulsalam, said, “This partnership with Vodafone Oman marks a significant step forward in our mission to provide exceptional value and cutting-edge services to our customers. By leveraging Vodafone’s advanced network, we are confident that our customers will benefit from faster speeds, enhanced reliability, and a superior overall experience. As we continue to grow, this collaboration reinforces our commitment to delivering the best-in-class solutions to meet the evolving needs and the demands of the market.” As the partnership takes shape, Vodafone Oman and FRiENDi mobile, in close collaboration with the TRA, are dedicated to ensuring a smooth and seamless experience for all customers. In the lead-up to the transition,
In recognition of its achievements, Liva insurance has been honoured with prestigious awards this year, including the ‘Insurance Company of the Year’ by Alam Al-Iktisaad Wal Aamal, ‘Best Rebranding Campaign’ and ‘Best Employer’ by Oman Brand Leadership Awards 2024, among many significant others.
CEO Hanaa al Hinai said, “As we celebrate our anniversary at Liva, I would like to take a moment to reflect on our journey and the values that define us. We see ourselves not just as a brand but as a partner that is deeply committed to supporting our clients through every stage of their lives. This past year has been nothing short of remarkable, filled with experiences that have brought us closer together in our mission to ensure that every individual and business in Oman receives the protection and peace of mind they deserve.” With strong leadership, a legacy of trust, and a bold vision for the future, Liva Insurance is well-positioned to shape the future of insurance in the region.
delivers lightning-fast speeds, ultra-low latency, and efficient data usage, setting a new benchmark in user experience. Vodafone Oman’s network operates without speed caps, ensuring uninterrupted connectivity for both business and leisure activities. In addition to its remarkable 5G capabilities, the company’s network also supports crystal-clear VoLTE calling, demonstrating the company’s unwavering commitment to delivering superior quality telecommunications at every turn. With its advanced, cloud-driven infrastructure, Vodafone Oman is not only built for today’s demands but is future-ready, empowering customers to stay connected and ahead of the curve in an ever-evolving digital landscape.
leading brands including Hilia, Anfasic Dukhoon, Emax, Sharaf DG, Home Centre and Zebrano. Established brands such as Oman Luxury and Lush also participated in the activation, enriching the overall experience for guests.
National Finance joins Environment Society of Oman to launch Green Campus Initiative
In a commendable effort to promote environmental stewardship among college and university students, National Finance, the Sultanate of Oman’s leading finance company, has partnered with the Environment Society of Oman (ESO) to launch the innovative Green Campus Educational Initiative. This initiative is designed to enhance ecological awareness and inspire a sense of environmental responsibility among youth, empowering the leaders of tomorrow to take meaningful action. The formalisation of this partnership took place during a signing ceremony between Tariq Sulaiman Al Farsi, CEO, National Finance, and the Honourable Dr. Amor Al Matani, ESO Board President, in the presence of esteemed representatives from both organizations.
The Green Campus Initiative 2024 will be the first competition of its kind in the Sultanate, designed to inspire the nation’s youth to reduce their environmental impact while advocating for sustainable policies and practices within their campuses. Participating colleges and universities will undertake practical assessments, planning, and implementation of projects aimed at minimizing their carbon footprints, and bolstering their contributions to planetary conservation for future generations. National Finance’s support for this initiative underscores the company’s commitment to empowering members of society to champion the cause of environmental sustainability. Reflecting on the initiative, Tariq Suleiman Al Farsi commented, “Our partnership with the Environment Society of Oman exemplifies our dedication to sustainability efforts, aligning with the objectives set forth in Oman Vision 2040 and Net Zero 2050. We acknowledge the vital role each individual plays in realising these aspirations. By empowering students to address
experiences. With these interactive pop-ups, Mall of Oman continues to solidify its reputation as the mall of endless possibilities, where every guest who walks through its doors encounters something truly unforgettable.
environmental challenges through this initiative, we aim to cultivate a generation of leaders capable of confronting the pressing issues facing our planet.”
Dr. Amor Al Matani added, “We are proud to launch this landmark initiative in partnership with National Finance, which extends our efforts to instill sustainable environmental practices in Oman’s education sector. By targeting students in higher education, we are shaping the next generation to adopt environmentally responsible behaviours, ensuring that sustainability becomes ingrained in their personal and professional lives.” National Finance’s support for the Green Campus Initiative transcends mere encouragement for youth to effect tangible environmental change; it embodies the company’s commitment to fostering healthy competition among students while educating and equipping them with the skills needed to drive positive change within their communities and environments. Furthermore, the initiative aims to enhance the nation’s sustainability priorities, showcasing the determination and enthusiasm of citizens in pursuing these vital goals. Through this partnership with ESO, National Finance carries on the remarkable legacy of its Imtidad social responsibility arm, under which the company has been actively engaged in numerous green initiatives, social welfare efforts and the empowerment of the broader community.
UNTAPPED POTENTIAL
Central Asia’s Warehousing Boom: Fuelling the Global Supply Chain Revolution
As global investors increasingly turn their attention to emerging markets, the Trans-Caspian International Transport Route— known as the “Middle Corridor”—is gaining recognition as a critical link in the logistics and supply chain landscape. This strategic route, which connects China to Europe via Central Asia and the Caspian Sea, is becoming a focal point for development, bolstered by a €10 billion investment program led by the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), with 20 countries expressing interest or involvement.
Kazakhstan, the largest economy in Central Asia, is positioning itself at the centre of this transformation. President KassymJomart Tokayev has made it clear that transport and logistics will be pivotal in driving the nation’s economic growth. He has tasked his administration with making Kazakhstan a fully-fledged logistics and transit hub in Eurasia, with the sector’s contribution to GDP expected to grow by 50 per cent, reaching 9 per cent within the next three years. At the heart of Kazakhstan’s development strategy is investment in infrastructure. The country has modernised its transport networks, built energy facilities, and established industrial zones to facilitate trade and strengthen its position as a regional hub. These enhancements not only support Kazakhstan’s economic ambitions but also provide the connectivity needed for the country to thrive as a critical node in global trade routes.
Central Asia, a region comprising Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan—home to a combined population of 70 million— has largely remained underdeveloped in terms of logistics infrastructure. Many facilities in the region were inherited from the Soviet era, and until recently, there was little demand for modern warehousing solutions.
However, several key developments have sparked new interest in this historically overlooked region: China’s Belt and Road Initiative (BRI): Since 2013, China’s ambitious infrastructure plan has laid the groundwork for improved trade routes across Central Asia, with the Middle Corridor serving as a key component. E-Commerce Boom: The COVID-19 pandemic (2019–2021) spurred a sharp increase in e-commerce, driving demand for high-quality warehousing facilities in the region. Economic Growth and Sanctions on Russia: Central Asia’s young, tech-savvy population has fuelled rapid economic growth, while sanctions imposed on Russia, a major regional trade partner, since 2022 have prompted the development of alternative transit routes, further increasing the strategic importance of the Middle Corridor.
These factors have created a unique opportunity for Central Asia to position itself as a modern-day Silk Road, revitalizing its ancient role as a critical bridge between East and West. The Middle Corridor offers the shortest land-sea route from China to Europe, spanning 4,250 kilometres of rail lines and 500 kilometres of seaway. Goods travel through Kazakhstan, Azerbaijan, and Georgia, crossing the Caspian Sea before continuing through Turkey or to the EU via Black Sea ports in Bulgaria and Romania. This route bypasses Russia, providing a vital alternative in the face of geopolitical tensions. By 2027, with adequate investment, the Middle Corridor and the North-South Corridor (linking Central Asia to the Persian Gulf) are expected to handle up to 10 million tonnes of cargo annually. However, realising this potential requires significant capital injections, particularly in supply chain infrastructure. The EBRD estimates that €18.5 billion in cumulative investments will be needed to make the Middle Corridor fully operational. The rapid development of Central Asia’s logistics sector has triggered an unprecedented surge in demand for warehousing facilities.
Rainer Michael Preiss Partner & Portfolio Strategist at Das Family Office in Singapore
This demand is driven by four main customer segments: International Brands: Major companies seeking new distribution points in Central Asia. Online Marketplaces: The rise of e-commerce across the region has created a need for modern logistics hubs. Domestic Retailers: Central Asian businesses are expanding and require up-to-date warehousing infrastructure. Foreign Logistics Companies: Predominantly from Russia, these companies are increasingly looking to Central Asia as a strategic location.
In Kazakhstan alone, it is estimated that around 1.2 million square meters of modern warehouse space are required to meet the needs of these customers. However, the country’s existing quality warehouse stock barely exceeds 1.4 million square meters, providing only 0.07 square meters of space per capita—a far cry from international benchmarks. Kazakhstan is set to increase its warehousing capacity over the next three to four years, with projections showing that by 2027, the country will offer 0.16 square meters of warehouse space per capita. While this represents significant progress, it still lags behind other regions, such as Turkey and Belarus, and remains far below the capacities of Russia, China, and Western Europe.
Despite these challenges, Central Asia’s growing role in the global supply chain cannot be overlooked. As the region invests in modern infrastructure and logistics, it is poised to become a crucial player in international trade, offering new opportunities for investors and businesses alike. The revival of the ancient Silk Road is no longer just a vision—it is becoming a modern-day reality.
