TRANSFORMATIVE SHIFT
EDITORIAL
Editor-in-chief
Said Masoud Almashani
Executive Vice President and Group Editor Mayank Singh
Editor Oommen John P
DESIGN
Director Production – Print & Digital
Ramesh Govindaraj
Chief Photographer
Rajesh Rajan
Cover concept
Rakesh Radhakrishnan
MARKETING
Associate Advertising Director
Shivkumar Gaitonde
Business Manager
Dhanish Pillai
CORPORATE
Chief Executive Officer
Atulya Sharma
Distribution United Media Services LLC
Published by
United Press & Publishing LLC
PO Box 3305, Ruwi, Postal Code - 112 Muscat, Sultanate of Oman
Tel: (968) 24700896, Fax: (968) 24707939
Website: www.umsoman.com
All rights reserved. No part of this publication may be reproduced without the written permission of the publisher. The publisher does not accept responsibility for any loss occasioned to any person or organisation acting or refraining as a result of material in this publication. OER accepts no responsibility for advertising content.
Copyright © 2025 United Press & Publishing LLC
Printed by Oman Printers & Stationers Ltd. Co. S.P.C.
Correspondence should be sent to:
Oman Economic Review
United Media Services
PO Box 3305, Ruwi 112, Sultanate of Oman
Fax: (968)24707939
Website: www.oerlive.com
For editorial enquiries: 99884854
For advertising enquiries: 99267159
Sustainable horizons
Oman is developing strategic plans for an energy transition that is aimed at reducing carbon emissions, balancing sustainable development with climate change, leveraging clean technology, and diversifying energy sources in alignment with global carbon neutrality goals for 2050.
The Ministry of Energy and Minerals is actively forging local and international partnerships to facilitate the country’s shift to green energy. This initiative supports Oman Vision 2040, which seeks to provide essential energy for economic growth while minimising carbon emissions. The strategy emphasises key areas such as energy efficiency, renewable energy, hydrogen development, and carbon capture.
Oman is preparing a roadmap to reduce emissions from specific projects across various sectors, including renewable energy, energy efficiency, and gas-burning operations while utilising advanced monitoring techniques to address methane emissions. Further, Oman is finalising a national policy for energy transition that outlines a general framework, along with policies and regulations to expedite transformation in hydrogen, renewable energy, energy efficiency, and carbon capture, transfer, use, or storage.
As part of this energy transition, Oman aims to increase the share of renewable energy to 30 per cent by 2030 and to 100 per cent by 2050. The country has set ambitious targets for green hydrogen production, planning to produce 1 million tonnes by 2030. With global energy demand projected to rise by 70 per cent by 2050, the role of hydrogen production will become increasingly vital, even as oil and gas remain significant. The future of Oman’s energy market looks promising for 2025 and beyond.
OommenJohn
Oommen John
Sign up for OERLive's daily WhatsApp updates on economy, lifestyle, and technology. Send us a WhatsApp message with the word “OERLIVE” on 91242930
POISED TO GROW
Your cover story on “Looking Ahead - CEOs and Business Leaders Perspectives on What Lies Ahead,” made for engaging and thought-provoking read. It highlighted the crucial intersections between leadership insights and national economic strategies. Oman’s 2025 budget is particularly praiseworthy as it supports the goals of the 10th Five-Year Development Plan (2021–25) and Oman Vision 2040. These initiatives aim to achieve financial sustainability while enhancing the financial sector’s ability to respond to growth and development needs. Preliminary results for 2024 show a promising surplus, a positive shift from the substantial deficits of previous years. Looking ahead, Oman is poised to make efficient use of its resources, directing spending toward essential sectors that promote sustainable development and diversify national income sources. This strategic approach aligns with the objectives outlined in the 10th Five-Year Development Plan, Oman Vision 2040, the Zero Neutrality Plan 2050, and the Sustainable Development Goals for 2030. The insights shared by CEOs and business leaders will definitely serve as a vital lens through which we can better understand Oman’s economy, as well as the business opportunities and challenges that lie ahead.
Salim Al Rumaithy, Rustaq
FUELED BY INNOVATION
Passion is the driving force behind every great achievement. It is the spark that motivates us to push boundaries and pursue excellence. When passion is paired with innovation, it creates an environment where creativity thrives and extraordinary solutions emerge. This synergy is what allows us to approach challenges with fresh perspectives and turn ideas into impactful outcomes.
Innovation goes beyond technology; it is about fostering a culture of continuous improvement and forward-thinking. Fuelled by a genuine passion for what we do, we aim not only to meet expectations but to exceed them—delivering results that resonate and inspire change. Each step we take reflects our commitment to progress and our desire to make a lasting impact.
By embracing new ideas, staying adaptable, and always striving for better, we transform challenges into opportunities. With passion and innovation at the heart of our work, we are not just shaping the future; we are redefining it.
Sadaf Al Zadjali, Muscat
14
COVER STORY
COLLABORATIVE FUTURE
The Ministry of Energy and Minerals has unveiled a new policy framework designed to promote the use of renewable energy and liberalise the electricity market
INVESTMENT DESTINATION OF
HE Ibtisam Al Farooji Undersecretary for Investment Promotion at the Ministry of Commerce, Industry, and Investment Promotion shares the reasons for the growing attractiveness of Oman
ECONOMY SHAPING THE FUTURE
Oman Investment Authority (OIA) invests in Singapore’s Golden Gate Ventures
34
INFRASTRUCTURE INNOVATIVE SOLUTIONS
JSIS promotes steel slag as a green alternative in construction
Oman Investment Authority (OIA) invests in Singapore’s Golden Gate Ventures
Oman Investment Authority (OIA) – represented by its venture capital arm Innovation Development Oman (IDO – has announced its investment in a new MENA fund launched by Singapore’s leading venture capital firm, Golden Gate Ventures (GGV)
Qatar Airways equips 30th Boeing 777 with Starlink, outpacing original timeline by 70 Per Cent
Qatar Airways, the largest global airline to offer Starlink’s high-speed internet on board, has achieved a new milestone with the installation of Starlink on its 30th aircraft, equipping over 50 per cent of its Boeing 777 fleet
Microsoft AI Tour showcases groundbreaking AI innovations driving transformation and growth across Oman
Microsoft’s global AI Tour arrived in Muscat recently, bringing together industry leaders, developers, and government officials to explore the transformative potential of Artificial Intelligence (AI) in accelerating Oman’s digital transformation
Bank Muscat Board of Directors approves financial results, proposes 16.5 per cent dividend for 2024
Bank Muscat has proposed a 16.5 per cent dividend for the year 2024. The meeting of the Board of Directors of the Bank, chaired by Sheikh Khalid bin Mustahail Al Mashani, Chairman, approved the financial results for the year ended December 31, 2024. The Board of Directors has proposed a 16.5 per cent cash dividend for the year 2024.
Shareholders would receive a cash dividend of RO0.0165 per ordinary share aggregating to RO123.856mn on the Bank’s existing share capital. The proposed cash dividend is subject to the formal approval of the Annual General Meeting of the shareholders and regulatory authorities. The Bank’s Capital Adequacy Ratio (CAR) after the cash dividend payout will be 20.02 per cent which is well above the regulatory minimum.
The Bank posted a net profit of RO225.58mn for the year 2024 compared to RO212.45mn reported in 2023, an increase of 6.2 per cent. Net Interest Income from Conventional Banking and Net Income from Islamic Financing stood at RO397.70mn for the year ended December 31, 2024 compared to RO374.82mn for the same period in 2023, an increase of 6.1 per cent. Non-interest income was RO145.00mn for the year ended December 31, 2024 as compared to RO138.00mn for the same period in 2023, an increase of 5.1 per cent. Operating expenses for the year ended December 31, 2024 was RO209.26mn as compared to RO196.39mn for the same period in 2023, an increase of 6.6 per cent. Net impairment losses on financial assets for the year
ended December 31, 2024 was RO64.41mn as against RO64.66mn for the same period in 2023. Net Loans and advances including Islamic financing receivables increased by 3.6 per cent to RO10,237mn as against RO9,877mn as at December 31, 2023. Customer deposits including Islamic Customer deposits increased by 3.6 per cent to RO9,777mn as against RO9,438mn as at December 31, 2023.
Oman Arab Bank launches a new suite of digital commercial banking services
As part of its ongoing efforts to lead the banking sector, Oman Arab Bank (OAB) unveiled a new suite of banking e-services for small and medium enterprises (SMEs), corporate clients and government entities on February 9. The launch took place at a special event hosted by the bank under the patronage of HE Dr. Said bin Mohammed bin Ahmed Al-Saqri, Minister of Economy, with the presence of more than 800 bank clients and high-profile guests.
The newly introduced digital commercial banking solutions from OAB provide businesses with seamless, real-time access to their financial transactions, enabling them to process payments, authorise transactions and manage payroll efficiently. The new e-services include: Mobile Commercial Banking Application: This will allow the bank’s valued customers to manage their banking accounts and conduct business transactions such as payments, payroll and transaction approvals at any time and from any location. Host-to-Host Payment Solutions: A direct connection system linking the clients’ systems with the bank’s payment system, incorporating the latest developments in this field, significantly
Bank Nizwa wins ‘Most Innovative Islamic Bank’ Award at International Finance Awards
In a testament to the bank’s enduring legacy of driving excellence within the Islamic finance sector, Bank Nizwa, was recently honoured with the prestigious title of ‘Most Innovative Islamic Bank’ at the International Finance Awards 2024, securing this distinction for the third consecutive year. The award underscores the bank’s commitment to offering exceptional banking experiences, underpinned by a comprehensive and innovative suite of Sharia-compliant solutions.
The International Finance Awards celebrate the outstanding achievements of financial institutions across the Middle East, Asia, Europe, and Africa, acknowledging excellence in leadership, capability, and industry standing. The ceremony witnessed the presence of several senior executives and prominent figures from the financial sector.
Khaled Al Kayed, CEO, Bank Nizwa, and Mohammed Al Hashmi, Assistant General Manager of Governance and Compliance at Bank Nizwa, graciously accepted the award on behalf of the bank.Commenting on this achievement, Khaled Al Kayed stated, “Being recognised as the Most Innovative Islamic Bank on such a prestigious platform fills us with immense pride. This accolade is a testament to our concerted efforts and commitment to innovation in the development of banking and financial services that meet the evolving needs of our customers, all while remaining firmly grounded in the core principles of Islamic finance. By continually pushing the boundaries of innovation, we not only set new benchmarks within the Islamic finance sector, but also leverage the latest advancements in Fintech to enhance our product offerings and customer interactions.
Our strategic emphasis on innovation also empowers our team to unlock their full potential, fostering creativity, while delivering experiences that resonate with our customers’ values and preferences.” This award comes in recognition of Bank Nizwa’s continuous efforts to be at the forefront of driving innovation and digital transformation in the banking sector. The recognition also reflects the bank’s dedication to providing innovative products and services that comply with Islamic Sharia principles. The bank has shifted its focus to enhancing customer experiences by launching new digital financial solutions through the utilization of the latest technologies in the banking sector.
saving time and effort while reducing banking transaction costs. Global “SWIFTNet” System: A global system that offers simplified connectivity for securely, quickly and efficiently transferring messages and financial transactions from the client to the bank. By leveraging these advanced technologies, OAB empowers businesses with greater financial control, operational efficiency and a future-ready digital banking experience.
Speaking about the bank’s vision for innovation in banking solutions, Sulaiman Hamed Al Harthi, CEO, Oman Arab Bank, stated, “In light of the rapid technological developments in banking, Oman Arab Bank continues its diligent efforts to adopt and localise the latest technologies, exploring the best digital solutions and utilising them. Its focus is serving the nation and supporting its development journey, setting an example of excellence and leadership in the banking sector. From this perspective, we have been eager to provide innovative banking services that cater to the needs of various sectors, beginning with micro-enterprises and progressing to small and
medium-sized enterprises, which form the backbone of the national economy and are an essential part of the vital resources in advancing this generous nation and extending to large companies and public and private institutions that play a role in driving development.”
Meanwhile, Sulaiman Ali Al Hinai, Chief Wholesale Banking Officer, commented, “These solutions have been meticulously designed following comprehensive studies to offer you the highest levels of security, flexibility and ease in managing your businesses, thereby enhancing your capacity to grow and evolve in a world facing shifts in needs and accelerating challenges.
The launch of these solutions reaffirms our continued leadership in digital commercial banking services, where we do not merely keep pace with trends but consistently strive to be at the forefront of innovation, elevating the standards in delivering this type of service and becoming the model to emulate and the reference point to acknowledge.”
NBO and Dar Global sign strategic partnership to develop AIDA Oceana Project, Oman’s new luxury destination
The National Bank of Oman (NBO) has signed a Credit Facilities Agreement with Dar Global to support the development of AIDA Integrated Tourism Project in Yiti, Muscat. Abdullah Al Hinai, CEO, NBO, and Ziad El Chaar, CEO, Dar Global signed the agreement at a ceremony held at the NBO Head Office, attended by the legal counsel Addleshaw Goddard. The Agreement complements business growth through tailored financial solutions for this state-of-art project, highlighting NBO’s efforts in strengthening Oman’s real estate and tourism sectors in alignment with Vision 2040. Additionally, the Credit Facilities Agreement provides partial financing for the development of ‘AIDA Oceana,’ a landmark project that is an integral part of the Yiti Master Development Plan.
Speaking on the agreement, Ghadeer Iqbal Al Lawati, Assistant General Manager - Head of Project Finance and Syndication at NBO, said, “We are proud to partner with Dar Global on this transformative project which not only redefines the concept of luxury tourism and community living in Oman but also contributes to the Sultanate’s economic diversification goals. The AIDA project represents an important milestone in Oman Vision 2040, and our financial support underscores NBO’s focus on promoting sustainable development and new investment opportunities in the real estate and tourism sectors.”Ziad El Chaar, CEO, Dar Global, said, “The AIDA Oceana project is set to be one of the most exclusive luxury destinations in the region, integrating world-class residences and leisure experiences. Perched atop hilltops 100 meters above Muscat shores, AIDA is a mixed-use development project comprised
EXECUTIVE MOVEMENT Sohar International appoints Abdul Wahid Mohamed Al Murshidi as CEO
The Board of Directors of Sohar International has announced the appointment of Abdul Wahid Mohamed Al Murshidi as Chief Executive Officer, effective February 26. Al Murshidi has been serving as Acting Chief Executive Officer since January 1, 2025, during which he has demonstrated exceptional leadership and strategic vision. Said Mohamed Al-Aufi, Chairman of Sohar International, stated, “Today marks an important milestone for Sohar International. Abdul Wahid’s proven track record, exceptional expertise, and unwavering dedication make him the ideal leader to steer our bank into its next chapter. We are confident that under his guidance, Sohar International will continue to thrive and reinforce its position as a leading financial institution in the region.”
In his new role, Al Murshidi will spearhead the bank’s initiatives aimed at achieving exponential and sustainable growth. “We are pleased to have a leader of Abdul Wahid’s caliber to guide the management team toward further success and excellence. With his diverse experience in the banking industry, we believe he will build on the bank’s achievements and strengthen its capabilities as a market
of residences, amenities, and outdoor landscapes. This partnership with NBO strengthens our ability to deliver a world-class development that will attract global investors and visitors to Oman.” AIDA Oceana is a high-end gated community featuring a Trump Golf Course and luxury residences branded by Trump. With 3,500 residential units including high-end villas, townhouses, and hospitality experiences, the project is poised to elevate luxury living in Oman while boosting the country’s tourism and real estate sectors. Through this collaboration,
Alizz Islamic Bank announces its partnership with Visa to elevate customer experience
Alizz Islamic Bank has partnered with Visa, a world leader in digital payments, to offer an enhanced shari’a compliant card value proposition to the bank’s customers. The new premium offering from Alizz Islamic Bank and Visa comes as part of the bank’s recent transformational journey that focuses on ‘Personalising every experience through innovative and smart solutions.’
As part of this partnership Alizz Islamic Bank will be introducing instant issuance new Visa debit cards, new Visa credit cards and Visa prepaid cards. The new set of cards offer unmatched features and privileges that will provide cardholders with exclusive benefits. Customer can choose between physical & digital cards and the cards will all be tokenisation enabled for Apple Pay, Samsung Pay, Google Pay and other OEM Pay Options. The cards will offer seamless global acceptance worldwide and Alizz Islamic bank cardholders will have access to more than 1,000 airport lounges around the world, along with premium benefits and luxury retail shopping advantages offered by Visa.
Additionally, for the first time ever for an Islamic bank in Oman; Alizz Islamic Bank is introducing a multi-currency Visa prepaid card that is available in multiple currencies including all GCC currencies, USD, GBP, EUROS, Yen and much more. The card will offer a safe, easy, and cashless way to carry multiple foreign currencies in a single card. Wherever the customer travels the card will support transactions in the relevant currency and customers can avoid the hassle of visiting exchange houses.
Visa is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and Government entities across more than 200 countries and territories. Visa’s mission is to connect the world through the most innovative, convenient,
reliable and secure payments network, enabling individuals, businesses and economies to thrive. This stems from their belief that economies that include everyone, everywhere, uplift everyone, everywhere and see access as foundational to the future of money movement.
Speaking on this occasion, Ali Al Mani, CEO, Alizz Islamic Bank said, “We have strategically partnered with Visa to ensure we are able to cater to the dynamic customer demands when it comes to our Shari’a compliant debit, credit and prepaid cards that are tailored to deliver personalised experiences, streamline operations and offers value added services that cater to customers’ evolving needs. This launch represents a milestone in our ambitious plans to become Oman’s leading Islamic Bank. Our vision is to provide our customers with innovative financial services and solutions that are exceptional and responsive to customers’ requirements, and our collaboration with Visa is a testament on our successful move towards achieving this vision.
We are committed to providing innovative, digital banking solutions and exceptional customer experiences to our customers and as we continue to expand, our focus remains on delivering the highest standards of personalised banking solutions.”
Manish Gautam, Visa’s Country Manager for Oman, said, “We are thrilled to partner with Alizz Islamic Bank to introduce a suite of premium Visa card products that are designed to elevate the customer experience. By leveraging Visa’s advanced technology and global network, Alizz Islamic Bank Visa cardholders will enjoy seamless access to exclusive benefits, enhanced security features, and unparalleled convenience both at home and while traveling abroad. Together, we aim to support the bank in their mission to offer enriched value to customers in Oman, and the government’s efforts to grow the digital economy.”
PIVOTAL ROLE
Oman launches digital platform to track and evaluate Green Hydrogen
Oman’s Green Hydrogen Ecosystem Readiness Steering Committee, chaired by HE Eng. Salim bin Nasser Al Aufi, Minister of Energy and Minerals and Chairman of Hydrom, has launched a dedicated digital gH2 Ecosystem Readiness monitoring platform called ‘gHad.’
The Hydrom-led initiative is designed to track sector-wide progress, enhance collaboration, and provide real-time data-driven insights on key initiatives supporting the development of Oman’s green hydrogen strategy.
The platform builds on the outcomes of the Ecosystem Readiness Lab conducted in September 2024, which identified 26 key initiatives designed to deliver Oman’s
2030 green hydrogen production targets. By digitalising sector-wide coordination, ‘gHad’ will move Oman’s hydrogen strategy from planning to structured execution across five key focus areas including permits, contractors, workforce development, logistics, and local content.
Eng. Abdulaziz Said Al Shidhani, Managing Director of Hydrom said, “Ensuring the readiness of all supporting sectors is critical to delivering Oman’s green hydrogen ambitions.
‘gHad’ is an integral tool to our joint success, providing us with a one-stop-shop to align efforts, address challenges early, and create the right conditions for large-scale
project execution. With clear visibility on sector progress, we can support decisionmaking, strengthen investor confidence, and position Oman as a competitive player in the global hydrogen economy.”
‘gHad’ will serve as a centralised system, integrating key public and private sector stakeholders across multiple sectors, including government entities, infrastructure providers, workforce development institutions, local industries, and regulatory bodies.
As Oman progresses towards becoming a global green hydrogen hub, the platform will play a pivotal role in enhancing governance, increasing transparency, and driving data-backed decision making.
OMAN - AN INVESTMENT DESTINATION OF CHOICE
HE Ibtisam Al Farooji
Undersecretary for Investment Promotion at the Ministry of Commerce, Industry, and Investment Promotion shares the reasons for the growing attractiveness of Oman as an investment destination and the sectors driving FDI. Mayank Singh reports
Since the accession of His Majesty Sultan Haitham bin Tarik five years ago, Oman has undergone a new and Renewed Renaissance. How has the investment landscape evolved during this period?
Thanks to the wise leadership and guidance of His Majesty Sultan Haitham bin Tarik and the framework provided by Oman Vision 2040, Oman today is more attractive than ever to investors. How has this been achieved? Well, let’s start with the Foreign Capital Investment Law, which amongst other things, allows for 100 per cent foreign ownership. There’s the streamlining of processes with the Oman Business Platform app being a great example.
Then there’s the investor support network we have developed and, of course, here I should mention Invest Oman, which has been set up to help investors get maximum value from being part of our growing and ambitious economy. And crucially important is the infrastructure enhancement that has gone on with, for instance, the modernisation of our ports, airports and roads as well as the development of our special and free economic zones along with the packages of incentives that have been put together to give them an extra competitive edge.
Let’s not forget the digital transformation, which is taking place all across government organisations with initiatives such as ROP’s Bayan customs portal and the Ministry of Energy & Minerals Taqa investment platform. As the global imperative to decarbonise becomes ever more pressing, our commitment to sustainability is playing an increasingly important part too, especially since the setting of our 2050 Net Zero target. It’s a commitment that’s underscored with the opening of the new Net Zero Centre which will, amongst other things, issue certifications for carbon, hydrogen and low-carbon products, manage and monitor carbon trading programs at both local and international levels as well as enabling participation in carbon markets.
In short, what this all means is that
when investors look at Oman, they see an ambitious, goal-oriented country, one with GDP projected to rise by a healthy 3.4 per cent in 2025. Compare this to the US with a forecast of 2.4 per cent and the euro zone at around 1.2 per cent and you can see Oman is doing well in the global economic context.
A notable illustration of the confidence the international community has in our economy is the regaining of our investment-grade status with the upgrade of Oman’s credit rating by S&P Global Ratings to BBB- with a stable outlook in 2024. This is up from B+ in just five years and our first time at this grade in seven years, a remarkable achievement by any standard. More than an accolade, it demonstrates the effectiveness of Oman’s economic reforms and fiscal policies. It indicates a safer investment environment, encouraging foreign direct investment (FDI) and enhancing confidence in the country’s economic stability. Let me also point out that the ‘stable outlook’ suggests potential for further improvements in the coming years, reinforcing our position as an attractive destination for investors.
Total FDI stock reached RO26.6bn (US$68.9bn) end of Q3 2024 marking a robust 16.2 per cent growth compared to the same period in 2023. This influx of investment – especially in energy, manufacturing and logistics - not only drives economic growth and development but also creates valuable opportunities for our entrepreneurs and career pathways for our talented youth.
In Oman’s transforming economy, where do you see the most compelling opportunities for domestic and international investors?
Thanks to an abundance of solar, wind and land – renewable energy here has tremendous potential. In fact, we are set to be one of the world’s most competitive green hydrogen producers and exporters - with the annual production of one million tonnes projected by 2030 and up to 8.5 million tonnes by 2050. This presents possibilities all along the value chain, from the manufacture of wind turbine
components and solar panels – we have a projected need for over 10,000 wind turbines and 300 million solar panels by 2050 - to servicing, maintenance and logistics solutions. So clearly, this is one to watch.
To be frank, there is so much potential in all the key sectors of Oman Vision 2040 with particular highlights, for me, being downstream manufacturing such as automotive and white goods from Oman’s green steel; adventure, luxury and eco niches in Tourism; the processing of metallic and non-metallic minerals in mining; integrated cold chain logistics as well as E-commerce fulfilment and last mile delivery in logistics; and food processing and aquaculture in agriculture and fisheries.
I would like to say though that I think investment in the circular economy is especially interesting as we ramp up our efforts to achieve carbon neutrality. In biogas plants, waste-toenergy facilities and recycling – the prospects are plentiful, especially when you take into consideration the goals of diverting 80 per cent of municipal solid waste into recoveryrecycling-reuse initiatives by 2030. An excellent example of what is possible here is the Evergreen Gulf Recycling Hub in Salalah, which uses AI-enabled technology to recover up to 20,000 tonnes of recyclable materials from electronic waste per year. Equally impressive is be’ah’s Suhar Industrial Waste Handling & Treatment Facility (IWHTF) on SOHAR Freezone – it is one of the world’s largest hazardous waste management facilities.
I’d also like to highlight Oman’s space industry which, if you will pardon the pun, took off when Duqm-1 was launched in December last year. With an outstanding geographical and topological location, Duqm Spaceport has a real edge for space launches not least of which are the significant fuel savings it offers over higher latitude sites such as Cape Canaveral and Baikonur Cosmodrome. Complementing this is the impressive innovation in drones and AI that is going on nearby in SEZAD’s AI Zone.
Linking Sohar Port to the UAE National Rail Network in its first phase, this unified transport and logistics chain will span the region. That is going to be tremendous for our manufacturers, mining companies, construction industry and more. It’s great news for the environment too as rail transport generally has a lower environmental impact than road
Where is Oman casting its net for our next generation of investors?
First, let me say we are already fortunate enough to attract investors from all over the world as well as from here. Recent new projects range from Iran’s RO29mn (US$75.1mn) Opal Bio Farma investment on Khazaen Economic city and France’s involvement in the RO23mn (US$59.5mn) BCG pharmaceutical vaccine manufacturing Plant on Samail Industrial City to Indonesia’s RO3mn (US$7.7mn) Oil & Gas Equipment Manufacturing facility in Nizwa. In terms of a domestic example, there’s the RO6mn (US$15.5mn) Neem Women’s Health & Wellness Centre in Al Khoud which is an Omani investment.
But what for me is particularly interesting is how countries that are longstanding investment partners, countries we already have a robust relationship with, are expanding their footprint and diversifying their interests here – clear evidence of Oman’s strengthening investment climate. India exemplifies this trend. While traditionally investing in core industrial sectors like iron, steel, cement, fertilizers, textiles, cables and chemicals, Indian investment is now venturing into sustainable energy and mining. The ACME Green Hydrogen & Ammonia Plant at SEZAD, a collaboration between India’s ACME Group and Norway’s Yara International is a prime example of this as is the RO20mn (US$51.8mn) mining and quarrying Salt Lamps Building Products LLC also on the Special Economic Zone at Duqm. Similarly, Chinese investment in Oman, which
reached US$2.7bn in 2023 and grew 37.6 per cent in Q3 2024, is expanding beyond traditional infrastructure projects like the US$19.5mn Duqm Materials Market launched in April 2024 with investors looking to engage in a range of sectors.
Europe and North America continue to be important investors and we fully expect their interests to grow given the global demand for green energy and Oman’s leading role in this sector. I draw your attention here to Denmark’s Copenhagen Infrastructure Partners and Blue Power Partners involvement with Oman’s Al Khadra – part of the Hind Bahwan Group - in the US$6bn Amnah Green Hydrogen project and to the fact that the UK is involved in five out of the eight Hydrom concessions.
Actually, UK investment grew 18.6% in the 12 months to September 2024, reaching US$5.5bn with other new investment areas for the UK here include mining - UK firm Knights Bay was awarded Oman’s first ever international mining concession in the Wilayat of Ibra; while in the telecommunications sector, FTSE250 company Helios Towers invested US$495mn in our telecommunications network.
How is the new era of everincreasing regional co-operation reshaping the investment landscape? I fully understand there can be a feeling of nervousness about this but, and I say with great confidence that working together with our GCC neighbours is creating powerful synergies, strengthening our competitive edge. We are seeing the building of strategic partnerships that
enhance our collective capabilities, particularly in key sectors like logistics, real estate, finance and tourism and this is fostering larger, more ambitious projects that benefit from shared expertise and resources across the GCC – just look at the US$9 billion Duqm Refinery, a joint venture between Oman’s OQ and Kuwait Petroleum International (KPI).
Another notable example is Sohar Aluminum which brings together Oman’s OQ, Abu Dhabi’s TAQA and global player Rio Tinto Alcan. The renewable energy sector is also benefiting from this regional cooperation, as evidenced by the 500MW Ibri II Solar Project, which unites Saudi Arabia’s ACWA Power, Kuwait’s Gulf Investment Corporation, Alternative Energy Projects and Barka Water & Power Company in a consortium that leverages each partner’s strengths. It would be remiss of me not to mention the joint venture between Oman Rail and Etihad Rail - the upcoming US$3bn Hafeet Rail which will be the region’s first cross-border rail network.
Linking Sohar Port to the UAE National Rail Network in its first phase, this unified transport and logistics chain will span the region. That is going to be tremendous for our manufacturers, mining companies, construction industry and more. It’s great news for the environment too as rail transport generally has a lower environmental impact than road. I have to say, I am excited to see what the next joint mega-project will be and look forward to seeing how it will add to the many attractions of Oman’s ever more vibrant investment landscape.
COLLABORATIVE FUTURE
The Ministry of Energy and Minerals has unveiled a new policy framework designed to promote the use of renewable energy and liberalise the electricity market. This policy is expected to enhance energy efficiency, diversify energy sources, and lower carbon emissions, highlighting Oman’s commitment to achieving net-zero carbon emissions by 2050. An OER Report
Oman is reaffirming its strong commitment to reaching netzero emissions by 2050, in line with the goals of Oman Vision 2040, especially in diversifying energy sources to ensure sustainable energy security. The Ministry of Energy and Minerals has also embarked on forging local and international partnerships that contribute to achieving the country’s transition to green energy. In this backdrop, the ministry took steps by introducing clean energy projects and launching green hydrogen investment packages. The development of the green hydrogen economy will provide a strategic opportunity for Omani and international companies to participate and collaborate in driving local and global energy security, economic diversification and muchneeded climate change mitigation.
Oman’s Ministry of Energy and Minerals has unveiled a new policy framework aimed at fostering the adoption of renewable energy and liberalising the electricity market. The “Renewable Energy Policy for SelfGeneration and Direct Sale” seeks to promote sustainable development, encourage investments in clean energy, and regulate electricity self-generation and direct sales, aligning with the Sultanate’s vision for a greener future. The policy is expected to improve energy efficiency, diversify energy sources, and reduce carbon emissions,
underscoring Oman’s commitment to achieving net-zero carbon emissions by 2050.
Recently, Petroleum Development Oman (PDO) signed landmark agreements on with OQ Alternative Energy (OQAE) and TotalEnergies to develop three key renewable Independent Power Producer (IPP) projects: North Solar 100MW PV IPP, Riyah-1 Wind 100MW IPP, and Riyah-2 Wind 100MW IPP. These projects represent a significant step in PDO’s commitment to sustainability, aligning with Oman’s Vision 2040 and the national target of achieving net-zero emissions by 2050. The North Solar IPP, spanning an area of 3 sqkm – equivalent to 468 football pitches – will generate 100MW of clean, renewable energy. This utilityscale solar photovoltaic farm, which is scheduled to be commercially operational in Q2 2026, marks a major milestone in PDO’s renewable energy journey. By harnessing solar power, the project will reduce CO2 emissions by over 220,000 tonnes annually and save millions of cubic metres of natural gas each year. The Riyah-1 and Riyah-2 wind farms, located in Amin and Nimr West, will collectively produce 200MW of clean energy. These two projects, covering an area equivalent to 1,870 football pitches, are expected to be commercially operational by Q4 2026. Both onshore wind projects will set a
remarkable global precedent, with the first oil and gas company as the sole buyer integrating a wind farm into its grid. The wind farms will save millions of cubic metres of gas annually, contributing significantly to cost savings and a substantial reduction in CO2 emissions – collectively by approximately 740,000 tonnes.
Oman’s Green Hydrogen Ecosystem Readiness Steering Committee, chaired by HE Eng. Salim bin Nasser Al Aufi, Minister of Energy and Minerals and Chairman of Hydrom, launched a dedicated digital gH2 Ecosystem Readiness monitoring platform called ‘gHad.’ The Hydrom-led initiative is designed to track sector-wide progress, enhance collaboration, and provide real-time data-driven insights on key initiatives supporting the development of Oman’s green hydrogen strategy. ‘gHad’ will serve as a centralised system, integrating key public and private sector stakeholders across multiple sectors, including government entities, infrastructure providers, workforce development institutions, local industries, and regulatory bodies. As Oman progresses towards becoming a global green hydrogen hub, the platform will play a pivotal role in enhancing governance, increasing transparency, and driving data-backed decision making.
Reinforcing its commitment to
advancing the lubricants technologies, Shell Oman recently convened industry leaders, experts, and stakeholders at the Shell Lubricants Technology Conference. The event spotlighted Shell Oman’s role in developing cuttingedge lubricants and solutions for the construction, oil and gas and power sectors. These solutions tend to reduce the total cost of ownership, reduce energy consumption and support the transition toward a more sustainable energy future in line with the Oman 2040 vision. The event not only showcased cutting-edge technologies but also highlighted the importance of cross-sector collaboration in accelerating Oman’s energy transition. By investing in innovative technologies and cleaner energy solutions, Shell Oman is enabling businesses to adapt to an evolving energy landscape, linking sustainability with long-term
commercial growth and strengthening its market position.
Oman signed $20bn of contracts with partners including BP, Shell and the newly formed Hydrogen Oman (Hydrom) to produce 500,000 tonnes of green hydrogen each year. The production targets are 1 million tonnes by 2030, 3.75 million tonnes by 2040 and 8.5 million tonnes by 2050. This should make the Sultanate the world’s sixth largest exporter of hydrogen by 2030. By 2040, those exports are projected to be worth 80 percent of Oman’s current exports of liquefied natural gas (LNG), according to the International Energy Agency.
Oman’s national policy for an energy transition will focus on setting a general framework, policies and regulations on accelerating the
transformation process in sectors of hydrogen, renewable energy, energy efficiency and capturing, transfer, use or storage of carbon. Plans for an energy transition include reducing carbon emissions, striking a balance between sustainable development and mitigating the impacts of climate change, utilising clean technology, and diversifying energy sources. Oman’s visionary plans for the green hydrogen economy and the joint infrastructure being developed to support these projects, will open doors for various industries to transition towards green production methods. A number of initiatives are in place to put the Sultanate of Oman on the list of the world’s leading green hydrogen producers, thus making it an attractive destination for foreign industrial investments seeking to transition to clean energy.
ENHANCING CONSUMER
How does the company ensure the reliability and efficiency of electricity supply?
Electricity in Oman is very reliable and efficient. In 2024, we have not experienced any major interruptions or shutdowns, making it one of the best in the region. We adhere to international standards to maintain this efficiency and reliability, ensuring that the supply meets all requirements with the co-ordination of other stakeholders mainly Nama distribution.
In November 2024, we launched Smart Prepaid. Out of our total customer base of around 1.4 million, approximately 180,000 are prepaid customers. Previously, prepaid systems were standalone, requiring customers to manually purchase tokens and enter them into a machine.
However, with the launch of Smart Prepaid, there is no need to change the meter and there are no extra charges that must be borne by the customer.
Customers can now recharge through a mobile app or directly via our interconnected system, which is part of the national AMI (Automatic Meter Infrastructure) project. This initiative, which began in 2020, aims to replace old meters with smart ones.
NAMA Supply Company’s package of services that accompanies the smart meter project, include options for prepaid bills, deferred payment, instant billing service, and much more. This initiative aligns with Oman’s broader vision for innovation, digitalisation, and technological integration. Each smart meter connects to our systems via SIM cards, eliminating the need for manual intervention or site visits, as all data and control are communicated directly.
We aim to complete the AMI system by 2025, with around 77 per cent already implemented. While NAMA distribution manages the replacement of meters, we handle the prepaid aspect, processing customer requests
to switch from postpaid to prepaid. Recharging can be done easily through the NAMA Service mobile app, taking just a few seconds. Customers simply enter their account number and the desired amount—there is no need for tokens or additional numbers.
We have received positive feedback regarding this streamlined process. Further, switching between prepaid and postpaid is also easy and can be done remotely through our system, known as Sabiq. We recently launched this service and will discuss various initiatives to support customer payment options.
What measures does the company take to promote sustainability in its operations?
NAMA Supply is currently focusing on digitalisation as a key component of its operations. We have a comprehensive digitalisation plan and a five-year business strategy, with digitalisation serving as the main pillar of our system. At present, we have nearly 10 projects aimed at enhancing sustainability in our operations. Our goal is to achieve seamless paperless operations with fully automated processes in the coming years. We are also assessing the use of artificial intelligence in our operations to minimise errors.
While no system is entirely errorfree, the use of these technologies significantly reduces the likelihood of errors, and we are continually improving our processes, both internally and in our customer interfaces. We also have a major project underway to enhance our customer portal, ensuring that users can easily access information and services. In terms of customer initiatives, last year, we launched a service called Thabit, which offers fixed payments.
Given that electricity consumption can increase significantly in the summer, this solution allows customers to pay a consistent amount throughout the year, even if their consumption varies. When customers enrol in the Thabit
program, we calculate their average usage from the past 12 months and provide payment options. Further, we are introducing an auto-payment feature through our app, allowing customers to set up automatic deductions from their bank cards for their electricity bills. This option will be available in the next three to four months. We are also developing a service called “YUSR,” which will assist customers facing payment difficulties. Like Thabit, this service will allow them to spread their outstanding dues over future bills.
Customers in need will be identified based on their payment patterns., ensuring we can effectively support those who require assistance. All processes will be automated through our system.
What are the company’s plans for expansion or investment in new technologies?
NAMA Supply is focused on enhancing technologies in operations, customer interfaces, and smart meters. We plan to invest around RO5mn over the next few years, including a major tender for a new billing system. Enhancements include improvements to the NAMA Service Portal, enhance further Prepaid and the Thabit product, which will offer more userfriendly features. We also aim to introduce a consumption simulation tool to help high-consumption customers choose the most costeffective tariff options.
How does the company envision its role in the future of Oman’s energy landscape?
We are an integral part of Oman’s energy landscape, particularly in the context of the Oman Vision 2040. We are making significant investments in digitalisation and actively supporting renewable energy initiatives. This year, we plan to launch a loyalty program aimed at promoting and supporting renewable energy. We are collaborating closely with other stakeholders, including authorities and distribution entities, to advance renewable energy efforts.
FUTURE DRIVEN
Oman LNG is contributing not only to Oman’s energy transition but also to global efforts to combat climate change and promote cleaner energy solutions, says Mohammed Al Tae,
New Business Development General Manager in
an
interview with Oommen John
In what ways is Oman LNG aligning its operations with global energy transition goals?
There is a global focus on reducing GHG emissions, and many international directives support a pathway towards a carbon free future. Global events such as the COP summit, in which Oman has a strong presence in, emphasise the need to ultimately secure the world’s energy needs through a carbon neutral or carbon free solution. Oman is no different, and Oman LNG has set its own ambitions towards these goals. Oman LNG is aligning its operations with global energy transition goals by
focusing on sustainability, improving energy efficiency, and exploring innovative solutions such methanation, and low-carbon LNG through increased electrification of its equipment and hydrogen firing applications. By reducing emissions, adopting cleaner technologies, and collaborating with global partners, Oman LNG is positioning itself to contribute to a low-carbon future while continuing to be a key player in the global natural gas market.
What is the long-term perspective of Oman LNG as a facilitator for
hydrogen-supported projects?
As part of Oman’s’ broader energy transition strategy, the long-term perspective of Oman LNG in this regard involves leveraging its existing infrastructure and expertise to become a significant ‘customer’ for Oman’s hydrogen projects. This could be achieved through aligning its operations to integrate hydrogen with its existing natural gas liquefaction operations, through hydrogen co-firing applications and through decarbonising its carbon emissions with hydrogen to enable green ammonia production. Oman LNG is building collaborations with international companies and governments that are leading the development of technologies thatt will help Oman LNG access the technical expertise, investment, and market knowledge required to scale up these ambitions and establish itself globally as a low-carbon LNG producer.
How is Oman LNG contributing to the development of a hydrogen cluster in Sur?
The development of a hydrogen cluster in Sur is an essential step toward harnessing the potential of hydrogen as a clean energy source and fostering economic growth for Oman. Oman LNG is contributing to this development by actively collaborating with the government and industry (through OQ etc) for developing Sur as a centre for green hydrogen production.
This is through providing its
technological expertise and market knowledge to the governmental agencies tasked with setting up hydrogen clusters across Oman. Furthermore, Oman LNG is actively involved with sponsoring hydrogen related conferences and seminars in Oman to promote the country’s hydrogen ambitions, and is aligning its long-term operations as a potential off-taker of green hydrogen from the Sur hydrogen cluster development. The hydrogen cluster can benefit from synergies between LNG production and hydrogen production, particularly in terms of energy efficiency and infrastructure. For example, surplus renewable energy from hydrogen production could be used to power LNG operations or vice versa, contributing to overall energy efficiency.
What are the potential benefits and challenges of integrating LNG with hydrogen projects?
The integration of LNG with hydrogen projects offers a range of potential benefits, such as leveraging existing infrastructure synergies, economic diversification, job creation, and enhanced energy security, while also positioning hydrogen as a key component of Oman’s global energy transition. However, the challenges are substantial, especially regarding infrastructure adaptation, high hydrogen production costs, regulatory uncertainties, and competition from other decarbonisation technologies. For this integration to be successful, significant investments in technology, infrastructure, and policy frameworks are necessary, as well as international collaboration to create a stable and efficient hydrogen market.
Is Oman LNG collaborating with other stakeholders to advance energy transition efforts in Oman?
Oman LNG’s collaborative approach with the Omani government most notably Hydrom, international partners, research institutions, and local communities is crucial for advancing the energy transition in Oman. By aligning with Oman’s Vision 2040, supporting
The integration of LNG with hydrogen projects offers a range of potential benefits, such as leveraging existing infrastructure synergies, economic diversification, job creation, and enhanced energy security, while also positioning hydrogen as a key component of Oman’s global energy transition
the development of hydrogen projects, integrating renewable energy, and investing in research and development, Oman LNG is helping the country transition to a more sustainable energy future. Oman LNG is engaging with research institutions such as Sultan Qaboos University, and technology companies such as Kanadevia to develop and implement new technologies that can support the energy transition.
Oman LNG, through its Corporate Social Responsibility (CSR) initiatives, is also engaged in community-level projects aimed at raising awareness about sustainability and energy efficiency. These efforts help foster a culture of sustainability across Oman and contribute to the success of the broader energy transition. Through these partnerships, Oman LNG is contributing not only to Oman’s energy transition but also to global efforts to combat climate change and promote cleaner energy solutions.
What role do you envision for LNG in the future energy landscape, particularly concerning hydrogen and sustainability initiatives? In the future energy landscape, LNG is likely to play a dual role: acting as a bridge fuel during the transition to cleaner energy sources and facilitating the growth of the hydrogen economy. While LNG will remain a key energy source for power generation and heating in the near-term, its longterm role will be increasingly tied to hydrogen production, especially through blue hydrogen and blending with natural gas. The integration of LNG with hydrogen projects, along with innovations like CCUS, synthetic methane etc. can make LNG more sustainable and ensure its relevance in the global energy mix. Ultimately, LNG’s future will depend on how well it can adapt to the changing energy landscape—focusing on reducing emissions, supporting hydrogen infrastructure, and helping achieve global sustainability goals. If these challenges are met, LNG could play an essential role in the transition to a lowcarbon, hydrogen-powered future.
we have had with both Tethys Oil and Mitsui. We are quite excited about our collaboration with Rock Oil, as they will bring to the table - a different set of skills and experience from different parts of the world.
Can you elaborate on CCED’s gas-topower initiative and its impact on greenhouse gas emissions?
Overall, our business is based on three pillars and these are important and interlinked. These are – maintaining low cost, reducing our environmental footprint and being valued by the community in which we operate. Let us take gas to power. We have associated gas, which is generated during production. The produced quantity of gas is not enough for exports but it is too much to be ignored. So we have been flaring it.
On the other hand, we have a lot of requirement for electricity as we run submersible pumps and our plants on electricity and hence there is a reasonably large electricity generation requirement. The drawback is that we are located in an extremely remote location, which is a long way from the national grid. We looked at the associated gas as a resource to generate power. As a result, we decided that instead of flaring the gas, we would use it to generate power for our facilities. This has enabled us to reduce diesel consumption, bringing down the cost of operations.
In addition, we are reducing emissions that come from burning diesel, helping the environment. Overall, around 5,000 to 6,000 tonnes of emissions are being reduced per month, which is significant along with a decrease in the cost of operations. We are helping the community by reducing emissions, getting more work done in the field in terms of gas generators and an overhead transmission system to distribute the power. The EPC contract for the installation of the overhead power lines was done by a local contractor, benefiting the local community.
Overall, we have reduced costs, lowered emissions and helped the community. It is a great example of how actually CCED’s three pillars become important and support each other.
In what ways is CCED contributing to Oman’s energy transition towards net zero emissions and greener alternatives?
From our perspective, it is about getting down the emission of flares. Though we are deploying gas to generate power, we are still generating emissions. This led us to consider other beneficial ways of reducing emissions such as reinjection of gas into our reservoirs helping recovery. We are looking at a number of different techniques on how we can reduce our overall emissions. We are exploring offsetting, by looking at mangroves and greening as a way to offset emissions. There are a number of other options such as achieving net zero by using technology, agriculture, greening, and increasing efficiency.
One of the things, which we are looking at, is that we have a number of vehicles in the field, which run on diesel, and one idea, which we are exploring, is – whether these be turned into electric vehicles, reducing diesel consumption. It is quite a challenging environment to have electric vehicles, but we have the power, so we can charge them and see if they survive the heat in a desert environment. In pursuance, we are looking to trial both 4x4 desert vehicles and crew change buses on electricity. There are a suite of opportunities, which are being explored. While not all of the options may work, we need to trial enough of them with the industry because this is something where partnerships and understanding from other outfits makes a big difference. This will enable us to find the right solutions to meet emission targets.
In what ways is the company enhancing In-Country Value, local procurement and Omanisation? We are fully supportive of ICV. As mentioned, one of our pillars is to be appreciated by the communities in which we work. This is not just doing CSR in terms of donating money to a project in a wilayat, but more about developing both people and companies. We have a strong in-house development program for people and we recruit graduates from Oman. CCED has an Omanisation ratio of 92 per cent, with about 77-80 per cent Omanisation at senior management level. This is remarkable in terms of Omanis in senior positions and enhancing
the technical capability of an Omani workforce.
Along with that, we like to work with local companies in order to build their skills and expertise. This in turn helps us to keep the cost of our operations low. It is cheaper to have a local organisation do things compared to an international company. There is also a knock on benefit for the environment, because if something is being manufactured in Oman, it ensures that we are not adding Scope 3 emissions for shipping things from other parts of the world. All the three pillars of our business are helped by ICV and we see it as being a valuable part of our business and not just a chore.
How was year 2024 for CCED and what are the key growth initiatives planned for 2025?
In 2024, we produced the 150 millionth barrel of oil, and that too from blocks that were seen as fallow, which is quite an achievement. We have started a major investment campaign in exploration, by completing the biggest on-shore nodal 3D shoot. This is a special technique, which uses nodes to gather seismic data, and we completed it in September last year. We are now in the processing stage, wherein we are processing the last acquired data. This year we will be starting to drill wells on the back of that processed data and we will be drilling those wells for the next three or four years.
We took our gas-to-power project from the generation of power in December 2023 to a completion of the first phase of our overhead lines. We powered all our plants and 90 odd wells with the system last year. A lot of work was done and this has encouraged us. In 2025, we are looking at more exploration and I am hopeful that our exploration program will start to deliver results, which would enable us to add resources and reserves. It will also help us to move forward and to look at other areas within block three and four for further development.We are adding a third phase of overhead lines to connect more power to our power plants. I am also hoping that we will come with some ideas about how we could start to use some of our stranded gas and get those projects moving forward. Therefore, there is a lot of exciting stuff, which is happening.
MAXIMISING OPPORTUNITIES
can greatly boost satisfaction and build trust. We have a robust CRM in place to ensure that we keep in touch with our customers, learn and improve our services from their experience as well.
How is the company managing challenges in complex business environments?
Every business has its own challenges encountering obstacles such as global supply chain issues, political and legal issues and environmental concerns.
To run a successful business outfit, we need to be aware of the challenges in the micro, market and the macro environment and re-evaluate the business model and come up with the strategies to turn these challenges into opportunities.
In what ways is Sayarti concentrating on growth and innovative partnerships to enhance value creation?
Strategic partnership is essential for a business to grow, expand its market reach and offer new services. Sayarti has always been in the forefront to enhance its market reach through partnerships as any strategic partnership adds value to Brand Sayarti and our business growth.
The latest example is our tie-ups with the local tour operators, supporting their tour operations by providing them with the tailor-made mobility solutions e.g. the SUV vehicles with the camper kits for their incoming tourists etc.
Can you share details about the company’s commercial operations in the construction, infrastructure, and oil & gas sectors? How significant are these sectors to the company?
The oil and gas industry are vital to the local economy, influencing mobility/ transportation businesses as well.
Sayarti LLC has been in the forefront supporting this sector by providing mobility solutions and meeting the PDO / OPAL standards from the day it started its operations in 1992 operating under Zubair Leasing. Sayarti has a wide range of vehicles available, meeting the standards required regarding the safety of land transport in Oil and Gas operations.
What are the company’s plans for expansion in the year ahead?
At Sayarti, we are constantly challenging ourselves by pushing the boundaries to keep the business growing either through the induction of new and latest vehicle models into our fleet, opening of new business outlets in the strategic locations across Oman targeting new businesses/ segments which helps us to penetrate the market more effectively, and most importantly, staff training on the new products and updating the skills sets.
Our growth has been exceptional in 2024, we opened a new business outlet at Al-Mouj which supports our objective and targets well. We not only focus on the new sales campaigns but also maximise the business opportunities through referrals and word-of-mouth marketing
PREMIUM EXPERIENCE
Tand performance in their vehicle. At the core of this impressive truck is a 2.0-litre turbocharged diesel engine delivering 163 horsepower and 380 Nm of torque, making it ready to handle any job or adventure. Paired with a smooth six-speed manual transmission, drivers get full control and a rewarding driving experience.
The Tunland G7 is a commanding presence on the road, measuring 5340mm long, 1940mm wide, and 1870mm high. Its spacious cargo area, sized at 1520mm x 1580mm x 440mm, offers plenty of room for heavy loads, while its wheelbase of 3110mm ensures stability and a comfortable ride. With a gross weight of 2980kg and a curb weight of 1980kg, it is clear that this pickup
For off-road enthusiasts, the Tunland G7’s four-wheel drive system boosts its ability to conquer tough terrains. The front suspension features a doublewishbone design with spiral springs and a sway bar, while the rear uses a leaf spring setup, ensuring a smooth ride even on rough surfaces.
Built with components from top global manufacturers, the Tunland G7 does not just excel in power but also in reliability and fuel efficiency. Whether hauling cargo or navigating rugged paths, this pickup delivers a premium driving experience.
A spokesperson from Gulf Great Sands LLC (GGS) commented, “The Foton Tunland G7 Diesel 4WD is designed
durability, it is a standout in its class.”
Style and practicality come together in the Tunland G7. It features 18-inch alloy wheels, LED daytime running lights, front fog lamps, and heated mirrors, while the cargo area is spray-coated for added durability. Inside, synthetic leather seats, a six-way adjustable driver’s seat, and heated front seats ensure a comfortable ride. Safety is a top priority with features like front collision warnings, lane departure alerts, dual airbags, and electronic stability systems. Technology-wise, the pickup is equipped with a 10.25-inch touchscreen, Bluetooth, USB ports, cruise control, keyless entry, remote window control, and a premium sound system for convenience and entertainment.
IS YOUR BRAND GETTING HONEST FEEDBACK? MARKET
SHAPING THE FUTURE
Oman Investment Authority (OIA) invests in Singapore’s Golden Gate Ventures
In line with the government’s commitment to support startups and enhance investments that promote innovation and entrepreneurship, Oman Investment Authority (OIA) – represented by its venture capital arm Innovation Development Oman (IDO) has announced its investment in a new MENA fund launched by Singapore’s leading venture capital firm, Golden Gate Ventures (GGV). The new fund targets startups in the Middle East, and has a capital of $100mn.
This partnership aims to empower Omani startups, stimulate and attract direct foreign investments, and transfer valuable expertise to the local market. It will also create job opportunities for Omani youth and support the establishment of research and development centers, thereby reinforcing Oman’s position as a regional hub for innovation and technology investment.
GGV kicked off its regional investments by investing in the Omani company Bayanat, specialising in data analytics solutions delivered via a Software-asa-Service (SaaS) model. This reflects OIA’s commitment to having an Omani dimension in its international investments while adding value to the national economy. This move underscores OIA’s focus on supporting startups while advancing the national objectives of Oman Vision 2040, strengthening the digital economy and empowering local entrepreneurs.
Ibrahim Said Al Eisri, Chief Investment Officer-Private Markets at Oman Investment Authority, stated that the partnership is part of broader efforts to diversify investments and enhance the Omani dimension in its international projects by redirecting investments into local sectors.
This strategy is expected to drive economic development and promote technological innovation. Additionally, the initiative supports OIA’s national agenda by investing in future-oriented sectors such as renewable energy, technology, artificial intelligence, and medical technology, while also creating sustainable business opportunities for local enterprises and employment for youth.
On his turn, Michael Lints, Partner at the Middle East and North Africa Fund, GGV, noted that this collaboration with OIA represents a significant milestone in the GGV’s journey to actively shape the future of innovation and entrepreneurship in the region. He emphasised that the partnership lays a solid foundation for expanding and enhancing sustainable value for investors.
As part of this cooperation, GGV plans to establish an office in the Sultanate of Oman. This development will strengthen the firm’s investments in Omani startups, attract local talent,
investment ecosystem in Southeast Asia, accelerating the inflow of foreign investment into the local market.
GGV was founded in 2011 and has invested in more than 100 companies across Asia, the United States, and Europe, including nine Unicorns (startups that reached a valuation of $1bn). The recent establishment of this MENA Fund further strengthens its regional presence.
This investment marks a continued effort to diversify the Future Generations portfolio managed by OIA consisting of its international investments across various sectors.
Through these investments, OIA aims to support economic growth and enhance financial sustainability in alignment with Oman Vision 2040, which seeks to establish the Sultanate of Oman as a leading investment destination both regionally and globally.
BUILDING RESILIENCE
OIC-CERT and Huawei release framework to secure software supply chains across member states
Huawei, in collaboration with the Organisation of the Islamic CooperationComputer Emergency Response Team (OIC-CERT) and the Oman National CERT, has announced the release of the OIC-CERT Software Supply Chain Security Framework.
This framework provides crucial guidance to OIC member states on establishing robust software supply chain security management, ensuring end-to-end cybersecurity. This comes at a critical time when cybersecurity is a top priority for businesses in the region, with 55 per cent of companies in the Middle East prioritising mitigating digital and technology risks over the next year, exceeding the global average of 53 per cent, according to a report by PwC. Within this, cyber risks remain a significant concern, with 42 per cent of regional businesses focusing on them.
Developed by the OIC-CERT Supply Chain Security working group, co-chaired by the Oman National CERT and Huawei, the framework addresses the growing complexity and interconnectedness of software systems and the increasing risks of supply chain attacks. It offers practical guidance for regulatory authorities in member countries to formulate effective policies for software supply chain manufacturers and service providers.
The framework provides a comprehensive approach to software supply chain security governance, covering key areas such as supplier cybersecurity management, opensource software management, R&D and production management. It guides organizations in implementing security measures throughout the entire software lifecycle, from evaluating and selecting suppliers to securing the development and deployment processes.
It also emphasizes the importance of managing open-source software components and integrating security practices into research, development, and production environments. This holistic approach aims to mitigate risks throughout the software supply chain.
Aloysius Cheang, Chief Security Officer for Huawei in the Middle East and Central Asia, said: “Huawei is committed to collaborating with global partners to enhance cybersecurity for all. This framework represents a significant step forward in strengthening software supply chain security across the OIC member states. We believe that by working together and sharing best practices, we can create a more secure and trustworthy digital environment for everyone.”
Dr. Saleh Said Al Hashmi at Oman National CERT, highlighted the significance of this framework and
the value of collaboration, stating, “In today’s interconnected world, software supply chain security is paramount. This framework provides a crucial foundation for OIC member states to build resilient digital economies. Our collaboration with Huawei leverages their expertise and industry insights to develop comprehensive guidelines that address the evolving threat landscape. By adopting these recommendations, nations can effectively mitigate risks and protect critical infrastructure. We believe this joint effort will significantly enhance cybersecurity across the OIC community.”
The framework’s release comes at a pivotal moment, as software supply chain attacks continue to evolve and pose significant threats to organizations and nations. By prioritising supply chain cybersecurity, OIC member states can protect their digital assets, foster trust, and enhance resilience in an increasingly interconnected world.
This initiative underscores Huawei’s ongoing commitment to contributing to the development of cybersecurity standards and enhancing industry security capabilities. By collaborating with international organisations like OIC-CERT, Huawei aims to support the building of cyber resilience and contribute to a more secure and trustworthy cyberspace.
Revitalised. Renaissance.
Oman’s business landscape is rising to new heights, fueled by innovation and bold vision.
Be part of the OER Business Summit - where leaders, thinkers, and changemakers come together to chart the course for Oman’s bright future. A new era beckons and it deserves your voice. Join us in keeping the momentum going.
GREEN INNOVATION
Oman gets its first hydrogen refueling station
The first hydrogen refuelling station in the Sultanate of Oman was launched today by Oman Shell. The move comes as part of Oman Shell’s drive towards advancing sustainable mobility in the nation. The launching event was held under the auspices of HE Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals.
Strategically located near Muscat International Airport, this state-ofthe-art hydrogen refuelling station is the Sultanate of Oman’s first green hydrogen production facility, integrating hydrogen refuelling, electric vehicle (EV) fast-charging, and conventional fueling options into a single fueling hub.
Built with electrolysis technology powered by solar energy, the station will produce up to 130 kg of green hydrogen per day. In addition to providing an alternative fuel source, it supports Oman’s Vision 2040 and its Net Zero 2050 goals by fostering lowcarbon mobility solutions.
Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals, highlighted the national importance of the initiative: “The launch of the Sultanate of Oman’s first green hydrogen service station marks a pivotal milestone in our
nation’s journey toward sustainability and energy diversification. This initiative reflects our commitment to implement His Majesty Sultan Haitham bin Tarik’s vision to position Oman as a key player in green hydrogen and a step towards achieving Net Zero by 2050. By integrating renewable energy, onsite hydrogen production, and advanced mobility solutions, this project demonstrates the potential of hydrogen ecosystems in attracting investment and supporting future technologies.”
On his turn, Walid Hadi, Oman Shell’s VP and Country Chairman, emphasised the project’s contribution to Oman’s sustainability journey: “The Green Hydrogen for Mobility project underscores Oman Shell’s commitment to sustainable innovation in Oman.”
Eng. Badr Mohammed Al Nadabi, CEO, Mwasalat, stated, “At Mwasalat, we believe that the future of transportation lies in sustainability, innovation, and the integration of smart, eco-friendly solutions. The launch of Oman’s first hydrogen fueling station marks a significant step in our journey toward sustainable mobility, reinforcing the nation’s commitment to a greener future. In collaboration with Oman Shell and Nama Power and Water Procurement Company, we
are introducing 15 hydrogen-powered vehicles for premium transportation, a milestone in achieving Oman Vision 2040 and the Net Zero 2050 goals.”
Further, Ahmed Salem Al Abri, CEO, Nama Power and Water Procurement, added, “Nama for Power and Water Procurement will provide a total of 7,000 International Renewable Energy Certificates (I-REC) to Oman Shell over the next five years until 2029, at a rate of 1,400 certificates annually. Additionally, 250,000 I-REC(E) certificates have been sold to the local market so far, and more than 3 million I-REC(E) certificates will be issued in 2025.”
Moreover, Dr. Mohammed Mahmoud Al Balushi, CEO, Shell Oman Marketing said, “At Shell Oman Marketing, we recognise that the future of mobility lies in innovation, sustainability, and collaboration. The launch of Oman’s first green hydrogen refueling station is more than just an infrastructure milestone — it’s proof of our commitment to Oman’s energy transition journey. By integrating green hydrogen into Oman’s mobility sector, we are not only introducing an alternative fuel source but also setting the technology foundation for a more resilient, low-carbon transport ecosystem.”
The Sustainable City - Yiti hosts groundbreaking ceremony for its new hotel, set to open in 2026
The Sustainable City - Yiti, the region’s first city committed to achieving net-zero emissions by 2040, marked a significant milestone with the groundbreaking ceremony for its new hotel. This landmark development aligns with the city’s mission to create a sustainable, live-work-thrive community while advancing Oman’s Vision 2040.
The event was attended by senior representatives from Diamond Developers, Oman Tourism Development Company (OMRAN Group), and other key stakeholders, to celebrate the commencement of construction. The 4-star property will have 203 keys, including guest rooms and suites, as well as wheelchairaccessible rooms. The hotel will feature a range of facilities – including restaurants, a fitness club, a spa and wellness center, two meeting rooms
and more.
“We are excited to break ground on this significant development, an integral part of our strategy to position The Sustainable City - Yiti as a world-class destination and a hub for sustainable living,” said Mahmoud Shehada, Chief Sales and Marketing Officer at The Sustainable City – Yiti. “This project exemplifies our commitment to delivering sustainability-focused infrastructure that serves both residents and visitors. The hotel will not only provide premium accommodations but also reinforce the city’s sustainable ethos through its design, operations, and offerings.”
The development will seamlessly blend modern aesthetics with rich Omani cultural influences. It will cover a total area of approximately
new hotel represents a key step in establishing The Sustainable CityYiti’s appeal as a vibrant, sustainable destination for residents and visitors alike. Beyond premium hospitality, the project aims to bolster Oman’s tourism sector, create numerous job opportunities, and showcase the nation’s leadership in sustainable development.
On track to start handovers by 2026, The Sustainable City - Yiti has already sold out of phase one of residential properties and with this vital community component, has kicked off the next phase of development. Once complete, the city will accommodate approximately 10,000 residents and visitors, setting a regional benchmark for eco-friendly urban living. The city will feature state-of-the-art facilities, urban farming, a central plaza with a mall, school and nursery, an indoor sports complex, access to a wide range of outdoor recreational activities, an equestrian centre, and an additional hotel.
TAPPING NEW OPPORTUNITIES
Austria and Oman continue to strengthen ties, exploring new opportunities for partnerships and sustainable growth, says Johannes Brunner, Austrian Commercial Counsellor, Advantage Austria Muscat
ADVANTAGE AUSTRIA, the official Austrian internationalisation, foreign trade promotion and innovation agency, with 100 offices in over 70 countries, provides a broad range of intelligence and business development services for Austrian companies, institutions, and their international partners. Its mission is to strengthen economic and innovationdriven relations and increase international business opportunities by building strong global relationships with Austrian companies and by fostering an exchange between Austria and the world of the best minds and most creative innovations.
Austria and Oman share strong bilateral trade relations, focusing on many sectors such as energy, infrastructure, technology, and tourism. Trade exchanges include machinery, industrial equipment, and renewable energy solutions from Austria, while Oman exports unprocessed Aluminum and petrochemical products. Collaborative efforts are also seen in the infrastructure, mining & tourism sectors, where Austrian expertise in innovation and technology could contribute to key projects in Oman. Both nations continue to strengthen ties, exploring new opportunities for partnerships and sustainable growth.
Austria’s Strengths...including 28 “Fortune 500” corporations make
headquarters:
• Proximity to the target market
• High stability
• Good infrastructure
• Significant tax advantages
• High productivity and motivation
• Great quality of life
Austria’s Export Economy
• Exports more than 50 per cent of economic output
• Exports to more than 200 countries (led by Germany, USA and Italy)
• More than 1.2 million jobs are directly linked to Austrian exports.
• + 169 per cent to Europe
• + 330 per cent to America
• +313 per cent to Australia / Oceania
• Austria is among the world’s Top 10 exporting nations per capita alongside Switzerland, Sweden, and Germany
• Export Figures in 2023:
• 201 billion EU in goods export
Over 60,000 Austrian companies engage in exports, contributing to a total export rate exceeding 60 per cent. Key sectors include mechanical engineering, chemicals, metal & steel, and vehicle supplies.
The economy is driven by innovative,
family-owned SMEs, many of which are global leaders in niche markets as “Hidden Champions.” Over half specialise in industrial goods, particularly mechanical engineering, metal construction, and electronics, with export rates reaching up to 85 per cent.
Key industries include mechanical engineering, automotive, railway, steel, food, electronics, and tourism.
EXPORT NATION
Austria’s most important export partners are Germany, ltaly, USA. Switzerland and France. The country’s proximity to Central and Eastern European states is a key factor in the increasingly significant trading relationships and economic connectivity with these countries. Capital goods are an important part of Austria’s export power.
The mechanical engineering industry, vehicle parts, GreenTech solutions and pharmaceuticals are prime examples of quality “made in Austria”. Companies from Austria are obsessive about quality, world class partners and committed experts that make their products and services #SURPRISINGLYINGENIOUS.
A GREENTECH CHAMPION
Austria is a leader in hydropower, hosting top global suppliers and generating 90per cent of its electricity from renewable sources. It also excels in timber construction with a zerowaste focus and pioneers Eco-Concrete with thermally activated building systems.
LEADER IN CORE
TECHNOLOGY FOR THE USE OF RENEWABLE ENERGY
Pumped storage power plants are vital for grid stability. Austria’s largest, located in the Malta Valley, Carinthia, has a capacity of 730 MW.
WASTE WATER EXPERTISE
Industry at its best: Customised water management systems for treating drinking water and wastewater.
INVEST IN AUSTRIA
ADVANTAGE AUSTRIA informs, advises and connects you with the right partners, such as the Austrian Business Agency, which supports you throughout the process of establishing your business.
• Researching market & industry data and trends
• Location scouting
• Networking & establishing contacts
• Austria is a strong and stable economic nation and the gateway to around 750 million customers in the heart of Europe. As one of the wealthiest EU countries, Austria offers a consumer market with a high standard of living and strong purchasing power. Also, Austria has a skilled labor force and a welldeveloped R&D Landscape with Industry as one of the strongest sectors. Pioneering innovation as a strong field of competence makes the country an important supplier of precision-machinery, pharmaceutical products and electronic devices, many of its companies being market Leaders in their respective categories.
• Information on company formation & Expansion
• Grants and financing options
• Talent pool
The presence of a high number of international organisations in Austria translates to a location advantage. The UN has designated Vienna as one of its four official headquarters and is represented here by numerous organisations.
OPEC and the IAEA also have their headquarters in Vienna, exerting influence beyond national borders. Additionally, more than 400 international companies operate regional headquarters in Austria.
FRESH VIEW magazine, published by ADVANTAGE AUSTRIA, offers insights into Austria’s economy, featuring sector overviews, facts, company profiles, and export success stories showcasing innovative solutions.
ADVANTAGE AUSTRIA MUSCAT
Mag. Johannes Brunner Austrian Commercial Counsellor Hajir Abubakr, Representative of the Austrian Commercial Counsellor M +968 911 20 207
E muscat@advantageaustria.org
INNOVATIVE SOLUTIONS
Building a sustainable future: JSIS promotes steel slag as a green alternative in construction
Jindal Shadeed Iron and Steel (JSIS), a leading force in the region’s industrial sector, recently hosted an exclusive event at its Liwa facility in North Al Batinah to advocate for the use of steel slag as a sustainable alternative in commercial construction. The gathering, attended by the Governor of North Al Batinah, other senior dignitaries from the region and Muscat Governorate, as well as industry experts and key decisionmakers, highlighted JSIS’s dedication to advancing environmentally responsible practices.
In line with Oman Vision 2040’s focus on sustainability and resource efficiency, the event showcased steel slag, a by-product of steel production,
as an innovative and eco-friendly solution for road construction and infrastructure projects. By promoting its adoption, JSIS seeks to reduce dependency on natural stone aggregates, safeguard Oman’s natural reserves, and drive the nation’s transition toward a circular economy. Notably, the steel slag roads have been effectively implemented in countries like the USA, Germany, and Japan, showcasing its environmental and economic benefits while preserving ecosystems in mining regions. It has been tried, tested and approved for use commercially for some decades.
Commenting on the initiative, HE Sheikh Mohammed bin Sulaiman Al Kindi, Governor of North Al Batinah,
said, “Environmental sustainability is one of Oman’s top priorities and serves as a fundamental pillar of Oman Vision 2040. Implementing strategic environmental programs is among the most vital means to achieve various developmental objectives, particularly in the industrial sectors. The Sultanate reaffirms its commitment to strengthening responsible environmental practices in alignment with global sustainability goals and the United Nations 2030 Agenda.”
His Excellency further emphasised the importance of adopting innovative solutions to minimise environmental impact, stating: “For instance, utilising steel slag not only helps in reducing long-term environmental
impact but also accelerates the transition towards more efficient and sustainable resource utilisation.”
Highlighting global trends in this field, he added, “Many regions worldwide are increasingly adopting steel slag as a sustainable and resource-efficient option. As an ambitious nation with a forwardlooking vision, Oman is keen to keep pace with these advancements. By incorporating steel slag into industrial processes, we have a significant opportunity to curb emissions, reduce waste, and contribute to the development of a cleaner and more sustainable circular economy.”
Harssha Shetty, CEO, JSIS, emphasised the role of steel slag in supporting Oman’s environmental objectives, stating, “With growing global environmental concerns, it is imperative for industries to embrace sustainable practices in resource management and production. The construction sector, in particular, must prioritise eco-friendly solutions
to address the environmental impact of traditional methods. At JSIS, we are at the forefront of these developments, leveraging innovative approaches to optimize resource utilisation while delivering high-quality products that support greener practices. Through initiatives like these, JSIS is proud to contribute to building a cleaner future for Oman while driving sustainability across varied sectors.”
Echoing Shetty’s sentiments, Prakash Chaudhari, COO of JSIS, added, “Steel slag offers a viable and environmentally sound alternative to natural aggregates while providing a steady supply of high-quality materials for infrastructure projects. Globally, steel slag has been proven effective in preserving ecosystems and reducing the environmental footprint of construction. By championing such innovative solutions, JSIS not only addresses critical environmental challenges but also strengthens its position as a forwardthinking contributor to Oman’s sustainable development goals.”
By hosting such events, JSIS actively encourages local companies to explore the untapped potential of steel slag and advocate for its broader adoption in future projects. The event featured comprehensive presentations that highlighted the various advantages of steel slag, particularly its role in ecosystem protection.
Repurposing this by-product significantly reduces the need for mining natural aggregates, which is often linked to environmental degradation, including deforestation, habitat loss, and soil erosion. Additionally, using steel slag helps mitigate dust pollution, improving air quality and fostering a healthier ecological balance.
The event also introduced innovative applications, such as using steel slag to fill open-pit mines in the North Al Batinah Governorate, providing a proactive solution to prevent acid mine drainage, and further reinforcing JSIS’s commitment to environmental stewardship.
A LEGACY IN LUXURY
At the heart of luxury, art, and timeless craftsmanship lies the Doha Jewellery and Watches Exhibition, a celebration of heritage and innovation. Asst. Editor of OERLive Alvin Thomas explores the elegance of the event and the artistry it showcases
When luxury meets art and timeless designs are etched into the sands of time, there’s an aura of glamour that lingers in the air – an energy woven from gold, diamonds,
as the “DJWE” – an annual spectacle of elegance that transforms the heart of Qatar into a glowing stage for the world’s most celebrated maisons and master artisans. For over two decades, DJWE has been an institution
cultural influences that breathe new life into the world of jewellery and timepieces.
In an age where time is measured in fleeting notifications and digital
and the quiet hum of precision craftsmanship. I could tell that it’s the kind of place where every sparkle tells a story, where watches don’t just mark time but capture the history of horology, and where the concept of beauty transcends aesthetics.
This was after all Doha (in a familiarisation trip organised by Visit Qatar) and I was at the Doha Jewellery and Watches Exhibition –fondly known among connoisseurs
honouring the craft of luxury designing and craftsmanship. Since its inception, it has drawn collectors and admirers of fine jewellery and horology from across the globe. What began as a showcase for Qatar’s leading jewellers has grown today into a dazzling confluence of international luxury, heritage craftsmanship, and contemporary design. Each year, the exhibition reportedly expands its horizons, bringing together historic maisons, avant-garde designers, and
screens, the art of horology teeters on the edge of obscurity. Don’t get me wrong – I marvel at the conveniences of modern technology, but I can’t help but mourn the quiet fading of our collective reverence for true craftsmanship. There’s something almost divine in the idea of master artisans dedicating hundreds of hours to creating a single timepiece, an intricate symphony of precision and passion that rivals even the most advanced machinery.
While our era leans towards mass production and instant gratification, I find myself drawn to the unwavering hands of those who refuse to let their craft be forgotten. In a world that moves ever faster, there is something profoundly beautiful about those who choose to slow down and perfect every detail.
So, walking into the Doha Exhibition and Convention Center this year, I felt the full weight of that legacy. The air itself seemed infused with anticipation, thick with the scent of polished wood, fresh florals, and something else – something intangible, a quiet reverence for beauty in its purest form.
Fardan Jewellery, Al Majed Jewellery, Ali Bin Ali Luxury, Amiri Gems, FiftyOne East, Al Muftah Jewellery, and a host of international legends. The booths themselves were works of art, some sleek and modern, others reminiscent of palatial elegance, each whispering an invitation to step closer, to admire, to dream.
In total the exhibition spanned over 33,000 square meters in the Doha Exhibition & Convention Center. The hosting hall was transformed into a glittering haven showcasing more than 500 brands from 30 countries, and the curtains were raised by His Excellency Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani,
Nicole Weiss, Chief Client Relations Officer and Global Head of High Jewelry, welcomed me with a knowing smile, her words carrying the weight of exclusivity.
“We are very fortunate to be the only jewelry house that purchases and chooses natural pearls from the Al Fardan collection. These are incredible pearls, and we are fortunate to have this opportunity to put them in pieces of our own,” she says.
She guided me to one of their landmark creations, a breathtaking necklace that seemed to hold the very essence of the ocean itself. “This necklace features this incredible
Under the soft golden glow of spotlights, gemstones winked mischievously from their glass cases, while timepieces sat with regal poise, their mechanisms a silent testament to centuries of watchmaking mastery. It was impossible not to be enchanted and reminisce over my childhood as a boy lost in a toy store.
And why wouldn’t I? The grandest names in the industry had all assembled in all their glory – Al
Prime Minister and Minister of Foreign Affairs.
Recognising Al Fardan Jewellery from its recent debut in Oman, I was drawn toward its boutique booth – an oasis of refinement where ultra-luxury brands converged in quiet grandeur. It was an intimate lounge where heritage and modernity intertwined seamlessly. My first stop was Tiffany & Co., where treasures of the rarest kind lay nestled under soft pools of light.
suite of natural pearls in a bluish, silver, purple undertone. You have a beautiful lustre, a beautiful orient on the pearls. They are paired with a Jean Schlumberger-style leaf. You have beautiful volume, a lot of wire work. Honestly, only the Tiffany & Co. jewellers could achieve this effect. It’s one of our most important pieces we are featuring here in Doha.”
And she was right: the pearls shimmered under the soft glow, their
hues shifting like liquid light, their history as deep as the waters they came from. Paired with the delicate artistry of Schlumberger’s signature motifs, the piece was not just an ornament, it was a masterpiece, a quiet symphony of rarity and craftsmanship.
Taking the opportunity, I ran my fingers along the edges of a velvet display case, tracing the curve of a necklace so delicate it looked as if it had been spun from moonlight.
Moving through the exhibition, each pavilion felt like a universe unto itself, orbiting around a shared devotion to craftsmanship and legacy. My next stop was the Girard-Perregaux booth, a destination I approached with a quiet sense of admiration.
significance of what lay before us.
Over the years, this brand had slowly but surely stolen my heart, pulling me away from longtime favorites like IWC and Omega. There was something about its understated elegance, the way its timepieces whispered rather than shouted, that made it impossible to ignore.
There, amidst the quiet hum of horology enthusiasts, I crossed paths with Tarek Biour, the Retail Director of Al Fardan Jewellery across Qatar, Oman, and the UAE. A man who carried the weight of legacy on his shoulders, he spoke with the conviction of someone deeply intertwined with the world of haute horology. “For over 70 years, we have promised our clients creativity and innovation, always staying ahead of their expectations. That responsibility grows with every exhibition, and this year in Doha, we’ve brought something truly special.”
As he spoke, he led me through a showcase of marvels – a curated collection of the finest from Chopard and Tiffany & Co., each piece crafted with the kind of intention that goes beyond mere luxury. “These new collections speak directly to the consumer, reflecting their passion, their expectations,” he explained, the glint of excitement in his eyes hinting at the
For the watch connoisseurs, the year was particularly momentous. Vacheron Constantin was marking 270 years of watchmaking mastery, unveiling two new models in celebration – the Historique Triple 2 Steel 37mm and the Americano Platinum 39.5mm. The significance wasn’t lost on anyone. “It’s a big moment,” Tarek noted, “that a maison of such heritage has chosen to celebrate this milestone here in Doha. Watch lovers have been queuing for days just to catch a glimpse of the newest releases.”
And then, there was Bovet. A name revered in horology circles, a brand synonymous with old-world complexity and artistry. Its recent partnership with Al Fardan had sent ripples through the industry. “It all started by chance,” Tarek revealed. “Mr. Al Fardan and Mr. Rafi Pascal, the owner of Bovet, met at an exhibition, and something just clicked. They saw what we were doing in Doha, our commitment to elevating every brand we represent, and they knew this was the right fit. Just a month and a half ago, we signed the agreement, and now Bovet is here, standing alongside the world’s finest under the Al Fardan umbrella.”
It was a meeting of minds, a convergence of vision and tradition.
And as Doha welcomed Bovet into its fold, the stage was set for something even bigger. “We have a surprise coming soon,” Tarek hinted, leaving the details shrouded in mystery but the promise unmistakable.
Before parting ways, I asked him about the state of the luxury market, a question that had been lingering in my mind throughout the exhibition. The answer came without hesitation. “Al Fardan has never lost faith in the luxury segment. Yes, the market moves in waves, but the last quarter of 2024 and the start of 2025 have shown incredible momentum. We’re seeing a rise in demand for complications, for limited editions, for pieces that speak to collectors and watch clubs. The connection between consumers and maisons is growing stronger, and that’s what keeps this world alive.”
Standing there, surrounded by timepieces that had outlived generations, I realised that luxury wasn’t just about extravagance, it was about preservation, about storytelling, about ensuring that the art of watchmaking continued to tick forward.
Wandering deeper into the exhibition, I found myself drawn toward the showcases under the banners of Al Majed Jewellery and Ali Bin Ali Luxury. But before delving into the ultra-luxury segment, there was one
stop I couldn’t resist – IWC. There it was, the IWC Portugieser Eternal Calendar, a masterpiece that lived up to its moniker, “A Tribute to Eternity”. A watch that not only embraced the complexities of horology but defied the very structure of time itself. The first secular perpetual calendar from IWC Schaffhausen, it calculated leap years over a 400-year cycle, skipping three leap years with unerring precision. The moon phase, accurate to 45 million years, was nothing short of a poetic defiance of impermanence.
As I admired its craftsmanship, I was soon joined by a fellow enthusiast, Zaheer Khan, a collector whose passion for watches ran deep. We struck up an instant connection, the kind that only true watch lovers understand. Time seemed to slip away as we wandered from Audemars Piguet to Cartier, from Patek Philippe to Rolex, exchanging stories, insights, and the quiet satisfaction of knowing we spoke the same unspoken language of mechanical artistry.
Zaheer was a man of machines – first cars, then watches, though he confessed that both shared a space in his heart. “Watches are like engines fitted into small spaces,” he mused, “everything you see under the hood of a car, reduced to fit within 40mm on your wrist.”
His journey into collecting began as a quiet fascination, a longing for mechanical watches in an era before digital distractions. The challenge of reading an analog dial as a child became the foundation for a lifelong obsession. “Back then, you had to learn to read the hands, to truly see time. Today, it’s just a number on a screen.”
For Zaheer, watches weren’t just accessories – they were identity. “Women have jewelry, but for men, what is it? It’s your watch. People notice it before anything else. You and I? We met, and the first thing we talked about was what was on our wrists.”
His collection had started modestly,
with a Rolex in 2013. But the obsession took hold quickly. “You wouldn’t save money, but you’d want to have a watch,” he laughed. And then came COVID – a time of upheaval that, for Zaheer, deepened his commitment to horology. “It changed everything. That’s when I truly immersed myself. By 2019, 2020, I was all in.”
What fascinated him most was the mechanical ballet within each timepiece, the invisible intricacies beneath the dial. “It’s physics, it’s art, it’s engineering at its finest,” he said, his eyes lighting up as he turned his wrist to admire his current piece.
“Right now, I’m wearing the Audemars Piguet Code 11.59 Chronograph,” he revealed. “I wanted this watch the moment it was launched in 2019, but they only released it in precious metals. I don’t wear gold for personal reasons, not that I couldn’t afford it, I just chose not to. But in 2023, when they finally released it in steel, I knew I had to have it. It wasn’t easy. I chased them for six months, making weekly visits, proving my collection was worthy before they finally let me take it home.”
Chasing a timepiece was as much a part of the process as owning it. “It’s the hunt that makes it special. My Royal Oak? I waited two years for it. You make your visits, you face disappointment, you walk away empty-handed. But then, in a single moment, you finally get what you were after. That feeling? That’s why we do this.”
As our conversation stretched into the evening, I asked what advice he’d give to someone just starting out. He smiled knowingly. “Watches are an indulgence,” he admitted. “A beautiful, dangerous indulgence. If you’re young, find a mentor.
Learn before you spend. By 40, have two or three great watches – pieces that define you. Don’t chase trends, don’t buy out of peer pressure. If a watch speaks to you, wait. If, after a month, you still feel the need to own it, then it’s meant for you.”
And his dream watch? A quiet pause, then a knowing grin. “If I had to give it all up for just one piece, it would be an Audemars Piguet Minute Repeater in black. That’s the one.”
As I listened to him speak, I realised that watch collecting was never just about ownership. It was about time itself, not just measuring it, but cherishing it, preserving it, carrying its weight on your wrist like a silent promise that some things, some moments, are meant to last.
Before we parted ways, I realised that our conversation had carried us through more than just the finest watch brands, it had also taken us on a journey through the heart of DJWE. I noticed the Qatari Pavilion that stood as a tribute to local artistry, showcasing rising talents who seamlessly blended heritage with contemporary craftsmanship.
Meanwhile, the Turkish Pavilion exuded Ottoman grandeur, its filigree work so delicate it seemed to whisper stories from the halls of Topkapi Palace. Meanwhile, the Indian Pavilion was a spectacle of regal opulence, displaying heritage pieces so rich in detail that they could have once adorned queens of lost dynasties.
Yet, beneath all the extravagance, there was a deeper resonance to DJWE, a purpose that extended beyond luxury. A special collaboration with Education Above All turned jewellery into a catalyst for change, with proceeds funding educational initiatives across the globe. In a setting where exclusivity reigned supreme, this act of giving felt like the rarest treasure of all.
As I took one final walk through the exhibition, allowing the last glimmers of diamonds and polished dials to imprint themselves in my memory, I understood something fundamental; DJWE was never just about adornments. It was about passion, legacy, and the art of time itself. Some pieces were meant to be worn, others collected – but all, in their own way, were timeless.
ENGINEERED FOR TOUGHNESS
The INEOS Grenadier is a rugged off-roader that prioritises mechanical prowess over modern conveniences, offering an authentic driving experience. Alvin Thomas, Assistant Editor of OERLive, explores its design, performance, and appeal for true adventure enthusiasts
The charm of a true machine, once a symbol of both power and precision, is slowly fading into obscurity. Regardless of the complexity of its engineering, the world is inching ever closer to an era where minimalism reigns. As brands increasingly latch on to the banner of ‘sustainability,’ something strange has happened: a disconnect from the very essence that once made the automotive industry so enticing. Gone are the days when carmakers pushed the limits of what was impossible, when every turn of the wrench, every innovation, was a testament to breaking boundaries. Now, in their place, we find a sea of uniformity, a blandness that renders even the most iconic names into symbols of a transformation that feels more like a loss than a gain.
And then, like a sudden gust of fresh air that cuts through the monotony, enters the INEOS Grenadier. A revival of sorts – a throwback to the unapologetic ruggedness of the oldschool 4x4, wrapped in the kind of craftsmanship that promises durability, adventure, and a timeless sense of character. Born from a conversation among friends and brought to life by the legendary Sir Jim Ratcliffe, a businessman whose name is as grand as the vision behind this new brand, the Grenadier has set out to do more than simply compete. Its story, one of ambition and sheer willpower, feels like it could stand the test of time, told for generations as a testament to a new kind of driving.
INEOS’ debut into the automotive world isn’t just another addition to the crowded marketplace. No, this is
a bold statement, a vehicle designed not to blend in, but to challenge the established order. From the moment Ratcliffe expressed his desire to craft a no-nonsense off-road truck, there was a palpable buzz in the air. A vehicle that would stand up to the heavy-duty behemoths of the industry – machines that have slowly become consumed by technology, laden with electronics and governed by algorithms. But the Grenadier promised something different: a return to rawness, a return to hard mechanics, where driving was an experience, not an equation.
So, when the Grenadier finally arrived on the scene in 2022 after five years of development, the automotive world was taken aback. Here was a machine that didn’t bow to the trends of the day. It stood firm, uncompromising, and ready to take on any challenge – whether it be the rugged backroads of the wild or the harsh, unforgiving terrains once only navigable by military-grade vehicles. And when we first got behind the wheel of the Grenadier, on the test grounds of the Oman Automobile Association back then, we were left impressed. The vehicle, with all its rugged charm and mechanical strength, was everything we had hoped for and more.
Yet, deep down, we knew that the Grenadier had the potential to do so much more.
So, when the opportunity arose to take the ‘Trialmaster’ variant of the Grenny out for another spin, this time across a wider variety of terrains, we couldn’t resist. What awaited us was not just a vehicle, but a journey into the heart of
its character. An unfiltered drive that would strip away the preconceptions and reveal the soul of this mighty machine. A test not just of its capabilities, but of its enduring spirit.
Much of this character can be seen in the shape and design of the Grenadier. From a purely aesthetic standpoint, its boxy silhouette is both a nod to the past and a statement of intent. The upright stance, the exposed hinges, the broad, flat surfaces – all of it serves a purpose. Those slab-sided panels maximise interior space while also making repairs and modifications easier. The flat front wings? Perfect for perching a cup of tea or a toolbox when working. Meanwhile, the near-vertical glass helps keep dust from settling in ways that would compromise visibility. Even the split rear doors were designed with utility in mind, capable of swallowing a full kayak (or two) without issue.
Nothing feels overdesigned or included for the sake of aesthetics alone. Even the little details, like the external wiring access points for auxiliary lighting, make it clear that this is a machine designed for people who use their vehicles as tools rather than status symbols. A utility rail with a universal fixing system on the doors offers additional versatility, while the rear door is split 30:70, as a singlepiece tailgate would have required hinges the size of the moon to support it. There’s also a rear ladder built to handle up to 150kgs of bodyweight, as is the roof, even without the full-length rack installed.
Other practical touches include exterior utility mounting points,
a reinforced bonnet, and a 400W inverter with an auxiliary battery. And for those who like to keep track of their surroundings, there’s even a compass with an altimeter built in. The pronounced wheel arches aren’t just for show – they allow for impressive axle articulation. Power is sent to all four wheels at all times, with a low-range transfer case for tackling tougher terrain. Engaging it is done the old-school way via a mechanical lever which seems stiff at first, but according to owner forums and Reddit, it eases up with use.
Inside, the utilitarian theme continues. Overhead switches, toggle controls, and a dashboard dominated by thick, tactile dials reinforce the idea that this is an off-roader first and a comfortable cruiser second. But that’s not to say it feels crude – far from it. The Recarobranded seats provide ample lumbar support and side bolstering on the road. The lockable center console, the roof-mounted off-road controls, and the auxiliary battery setup tucked neatly beneath the second-row seat all add to its practical appeal.
That said, there are quirks. The driver’s footwell is notably narrow, making it less accommodating for those with long legs and the infotainment system, while
functional, takes some getting used to. But after three days behind the wheel, these became minor inconveniences in an otherwise well-thought-out interior. In fact, the cabin feels purpose-built for both adventure and comfort, striking a balance that makes long highway cruises just as enjoyable as off-road escapades. The cockpit-like layout seems deliberately engineered – every switch and toggle placed with a sense of order reminiscent of a Boeing aircraft, lending the interior a distinctive and almost industrial charm. It’s a novelty, sure, but one that feels undeniably fitting for a machine of this caliber.
The 12.3-inch screen is an important component with key vehicle readouts like speed and fuel level displayed on the central screen rather than in a traditional instrument cluster. There’s a certain logic to it, allowing for an uncluttered forward view, which is particularly important when you’re off-road.
Speaking of which, that’s where the Grenadier truly shines. When it leaves the tarmac behind, its ladder-frame chassis, solid axles, and long-travel coil suspension make it a formidable presence off-road. It doesn’t float over obstacles in the way that an
independent suspension setup might, but it powers through them with a steady, unflappable confidence. The weight is always apparent – especially in technical terrain – but it never feels unwieldy. The balance is just right.
Locking differentials, selectable lowrange gearing, and that old-school hydraulic steering all contribute to a driving experience that’s raw, direct, and refreshingly mechanical. The steering, in particular, might be a sticking point for some. It’s heavy, deliberate, and doesn’t self-center in the way that modern systems do. But for those accustomed to classic offroaders, it feels honest and connected in a way that electronic assistance just can’t replicate.
Having tested it on the sandy terrains of Al Ashkharah in an independent testing, we found the Grenadier to swallow up all forms of terrain even while it donned All-Terrain rubbers manufactured by Bridgestone Dueler. Whether it was crossing the salt trails, crawling over rock shelves, or wading through deep wadi ruts, the Grenadier seemed to maintain a reassuring sense of stability, thanks largely to thanks to its weight distribution and longtravel suspension. It’s not as nimble as some two-door overlanders, but
it doesn’t need to be. It’s built for the long haul, for adventures where endurance matters more than outright articulation.
And it’s here, in the wild, that its strengths become most apparent. The high sill clearance – so often a weak point in modern off-roaders – means it’s less likely to snag on obstacles that would leave other vehicles stranded. The factory-fitted auxiliary battery setup is a godsend for those who rely on 12V power for their expeditions. Reportedly, there’s also a Pathfinder function (that we didn’t try), which allows users to breadcrumb their journey into an exportable GPS file, is a brilliant tool for adventurers who like to track their routes.
Off-road, the Grenadier feels composed and capable. Its suspension absorbs washboard roads and scattered stones with ease, while the steering offers just enough feedback to keep you connected to the terrain. The brakes, too, are strong and responsive, delivering a smooth, linear bite when needed. Nothing feels excessive or lacking – just a well-balanced setup that keeps the vehicle in check. On the road, the Grenadier doesn’t undergo a dramatic transformation. It retains that all-purpose character, gliding over surfaces with confidence, though mastering the steering inputs takes a bit of practice. Once you do, keeping
of gravity and a rod ball joint steering setup, understeer is surprisingly kept to a minimal.
The Grenadier’s towing and payload capacities further reinforce its workhorse credentials. With a braked towing limit of 3500kgs and a payload of around 907kgs, it’s more than capable of handling the kind of gearheavy expeditions that would push lesser vehicles to their limits.
It does all this courtesy a BMWsourced 3.0-liter straight-six engine, which packs plenty of torque (rated at 450Nms). They don’t make the Grenadier feel particularly peppy at 282hp, but when you put your foot down, that surge of power is undeniable. The eight-speed ZF automatic gearbox, already a wellregarded unit, has been fine-tuned specifically for the Grenadier, prioritising durability over razorsharp shifts. It’s a gem, dropping gears eagerly when you need a burst of torque on the open road while smartly holding lower gears to keep momentum steady when tackling deep desert sands.
Perhaps the biggest challenge for potential buyers will be adjusting to the Grenadier’s old-school driving
a bit jarring at first. But for those who understand the appeal of a truly mechanical off-roader, it’s a refreshing return to form – one that rewards patience, skill, and an appreciation for the analog driving experience.
And that’s really what makes the Grenadier so compelling. It’s not here to compete with the latest luxury SUVs or to chase after market trends. It’s a vehicle built with a singular purpose, designed for those who see driving as an experience rather than just a means of getting from A to B. It’s tough, honest, and packed with character in a way that modern, tech-laden 4x4s often aren’t.
It’s also a reminder that, in an age of increasing digitisation and driver assistance, there’s still a place for vehicles that prioritise capability over convenience. The Grenadier isn’t perfect – it has its learning curve. But for those who get it, who appreciate the art of engineering over-the-top robustness into every component, it might just be one of the most satisfying off-roaders on the market today. In fact, its purpose-driven design is so compelling that we’re seriously considering adding one to our own collection.
In a momentous event at the luxurious Al Bustan Palace Hotel, Muscat International Automobiles unveiled the revolutionary ROX Motors, setting a new benchmark in automotive excellence. The exclusive gathering of industry leaders, media representatives, and distinguished guests celebrated the arrival of this cutting-edge innovation, a true game-changer for Oman’s automotive landscape. The launch event captivated attendees with a dynamic showcase of the ROX 01, New Generation All-Terrain Luxury SUV – a fusion of cutting-edge technology, unparalleled performance, and futuristic design. Engineered for
power, efficiency, and sustainability, this groundbreaking vehicle is set to redefine the driving experience for modern motorists.
ROX 01 - New Generation All-Terrain Luxury SUV
The Full-size Range Extended EV SUV ROX 01 impresses with its dimensions, which emphasise its status as a powerful and comfortable SUV. With a length of 5295 mm, a width of 1980 mm and a height of 1869 mm, the car provides a spacious interior and excellent maneuverability on the road. The wheelbase of 3010 mm contributes to stability and smoothness of the ride, the ground
clearance of the vehicle is 205 mm which is especially important when overcoming difficult routes, crossing wadis and other all-terrain conditions. It has 22.2° Approach angle, 19.7° Longitudinal angle and 25.1°
Departure angle which is especially important for overcoming difficult routes. These parameters make the ROX 01 an excellent choice for both long distance and everyday urban driving.
Design history ROX 01
The design of the car was developed by the famous Italian studio Pininfarina, for ultra luxury sports models. At the same time, the
aesthetics of the Celestial Empire are also visible in the details: the inspiration for the design of the head and rear optics, as well as the front LED Headlights, was the Chinese character (stone), symbolising strength and durability.
Range Extended EV System
The ROX 01 is equipped with a sequential range extended system that combines high power and environmental friendliness. Under the hood is a 1.5-liter turbocharged engine that works in tandem with two electric motors. The internal combustion engine in this bundle acts as a generator. WLTC driving range 880 kms.
The CATL 56.01 kWh Lithium Battery with heat insulation and flame retardant design offers WLTC driving range 235 kms. The overall system allows the car to develop an impressive torque of 740 Nm and accelerate to 100 kilometers per hour in just 5.5 seconds. Despite such dynamics, the hybrid system allows for impressive efficiency - the ROX 01’s range reaches 1,115 kilometers as per WLTC standard.
ROX 01 vehicle warranty is 5 years / 150,000Kms and battery warranty is 8 years / 240,000 kms, whichever is earlier respectively.
ROX 01 smart driving systems
The ROX 01 body is made of highstrength steel and aircraft type aluminum, which makes it lightweight and at the same time super-strong. The ROX 01 built with 87% highstrength steel to protect the shell of the vehicle. As a result, the ROX 01 showed excellent results in crash tests, including side impacts, impacts to the front pillars and roof load.
ROX 01 has various modes to select and drive in different challenging terrains and adopt to sand, rock, mud, snow and wade.
The car is equipped with advanced safety systems includes Adaptive
Cruise Control, Lane Centering Assistance, Rear Cross Traffic Alert, Blind Spot Monitoring with 6 cameras, 5 Millimeter Radars and 12 Ultrasonic Radars, which provides perfect visibility in all conditions, including night driving.
Modern technologies for maximum comfort and protection
The ROX 01 interior is made of premium Nappa leather seats and other expensive materials. ROX 01 seats are built with zero gravity seats with lumbar & back relaxation support system, 8-point massage with heating, ventilation function provides relaxation and comfort throughout the trip. The spacious interior with a total glazing area of more than 6.5m² fills the interior with light and creates a feeling of spaciousness, making the trip more memorable for the driver and all passengers.
The ROX 01 also features modern multimedia systems with 3 HD display screens, 14-speaker audio system for surround sound, 2 wireless charging stations. For those who like to stay connected, the car offers CarbitLink application and Apple CarPlay.
During the event, GK Ganesh, the Chief Operating Officer of Muscat International Automobiles, emphasised the brand’s unwavering commitment to innovation and excellence. “The ROX Motor 01 is more than just a car—it’s a movement. With groundbreaking engineering and state-of-the-art craftsmanship, we are shaping the future of mobility in Oman.”
Additionally, Chief Executive Officer Jarvis Yan, Co-founder and Chief Executive Officer of ROX Motor and David Wu, Chief Strategy Officer of ROX Motor shared their visionary perspectives on the brand’s expansion and the future of smart automotive technology in the region.
PREMIUM EXPERIENCE
Changan Oman introduces a new state-of-the-art showroom in Al Qurum and expands its network to 14 service centres and 8 showrooms across Oman
Changan Oman has reinforced its commitment to the Oman market with the launch of a new state-of-the-art showroom in Al Qurum, bringing customers an enhanced and refined automotive experience. This newly opened showroom reflects Changan Oman’s dedication to providing world class facilities, ensuring a premium and welcoming environment for customers to explore its impressive range of vehicles.
As the brand continues to grow, it has also opened new showrooms in Barka, Sur, and Nizwa, ensuring even
extensive automotive networks in the Sultanate. This expansion reaffirms the brand’s focus on providing buying convenience and exceptional after sales support to Oman customers.
A spokesperson for Arabian Gulf Automobiles and Equipment LLC (AGAE), official distributors of Changan Oman said, “By combining an extensive 8 showroom and 14 service network with an exceptional lineup of vehicles, the brand ensures that customers across Oman enjoy a seamless and superior automotive experience.
lifestyle.”
The Qurum showroom serves as a flagship facility, designed to offer a supreme customer experience, showcasing the latest Changan models in an immersive and sophisticated setting. The addition of a showroom in Barka enhances accessibility for customers in the western region, particularly those in Al Batinah and surrounding areas. similarly, the showroom in Sur will cater to the needs of customers in the eastern part of Oman, ensuring that the latest Changan vehicles and services are readily available.
lineup more accessible to a wider audience.
Beyond these new locations, Changan’s existing showrooms in Mawaleh, Sohar, Ibri, and Salalah continue to serve customers across the country. Whether in the capital, the northern or southern regions, or the interior, Changan Oman growing presence guarantees that every customer has access to the brand’s cutting-edge vehicles, expert consultations, and test drive opportunities without having to travel far.
To complement its expanding showroom network, Changan Oman has also built a comprehensive aftersales service infrastructure, with fourteen strategically located service
CHANGAN OMAN NETWORK
centres ensuring that customers receive top-tier maintenance and repair support. In Muscat, service centres in Wadi Kabir, Mawaleh, Azaiba, Mabella, Rumais, Rusayl, and Amerat provide convenient servicing options for residents of the capital which is one of the largest network in capital and beyond Muscat, Changan has established service centres in Nizwa, Sohar, Barka, Salalah,
Sur, Ibri, and Duqm, ensuring that customers across Oman have easy access to expert vehicle servicing, diagnostics, and repairs. Each centre is equipped with advanced tools and staffed by highly trained technicians, guaranteeing efficient and professional support for all Changan models.
Changan Oman’s success is driven
by its diverse and technologically advanced vehicle lineup, catering to a wide range of customer preferences.
The UNI-K 4WD, a refined mid-size SUV and CS95 7 seater SUV offers a powerful 2.0-litre turbocharged engine with 8 -Speed Automatic Transmission, while the UNI-T crossover provides a sleek, futuristic design with a 1.5-litre turbocharged engine for a smooth
driving experience.
Those seeking economical and compact yet sophisticated sedan can explore the ALSVIN, featuring a 1.5-litre Blue Core engine with 5DCT for efficiency, while the EADO Plus 1.5 Turbo sedan combines stylish aesthetics with advanced technology mated with 7-Speed Dual clutch transmission.
The Luxury All-new UNI-V Sedan blends style and performance with a 2.0-litre turbo engine, modern technical and advanced safety features. The HUNTER Pickup is available in double cab gasoline and diesel variants.
The CS35 Plus, a compact SUV, delivers a balance of power and comfort with a 1.5-litre turbocharged GDI engine, making it ideal for city driving.
Meanwhile, the Luxurious All-new UNI-S ensures a refined and dynamic experience with its 1.5-litre turbo engine and seven-speed dual clutch transmission, and each model embodies Changan’s commitment, and performance, offering something for every driver in Oman.
technology, and performance. Designed to suit the demands of today’s drivers, the Starray combines innovation, safety, and road command in perfect harmony while offering outstanding value as an affordable family SUV. The launch ceremony was held at Crowne Plaza - Grand Lawn, and was graced by industry leaders, automotive enthusiasts, and dignitaries.
Michael Song, Vice President of Geely Auto and General Manager of GAIC says, “Geely Starray is the future of intelligent mobility, combining aesthetic excellence with safety and digital innovation. It represents the evolution of design philosophy and engineering prowess, crafted for discerning drivers.”
smoothness—whether driving on city roads or conquering off-road adventures.
With advanced technology, lavish comfort, and uncompromising safety, the Starray raises the bar in performance and versatility, redefining the driving experience on urban and highway terrains.
4WD System: Advanced traction and control technology to handle varied terrain with confidence, from city streets to sand, mud, and gravel.
8-Speed Automatic Transmission (8AT): Provides seamless gear shifting, improved fuel economy, and enhanced driving dynamics for performance and comfort.
interior, offering both style and substance.
“With the Starray 4WD, we’re not just introducing a new car; we’re redefining what versatility means for modern drivers,” said Alex Gu, Geely Middle East & Africa General Manager. “Its powerful 4WD system and advanced 8AT transmission ensure a smooth, confident driving experience, no matter where the road leads.”
The Geely Starray features an aerodynamically streamlined shape, exuding confidence and flair. Its striking and dynamic exterior design boasts Stars-Aligned Daytime Running Lights and a distinctive front face, with the Flying Arrow Full-Width
Taillight that enhances both visibility and road presence. Complementing its authoritative posture, the Starrayrides rides on 20-inch silver and black alloy wheels wrapped in Goodyear Eagle F1 tires for enhanced grip and stability. A programmable power tailgate and thin rear spoiler combine sportiness and elegance to make a dramatic figure on the road.
Every detail of the Starray’s exterior is meticulously crafted to fulfill function and form. Aerodynamic lines are formed to enhance performance, while LED light components are crafted to provide maximum visibility and safety, especially when driving at night. The Starray’s design language represents a vision for the future, combining sophistication and high-performance capabilities.
The Geely Starray 4WD is engineered for adventure, combining a bold exterior with a spacious, luxurious interior to inspire exploration. Whether navigating city streets or tackling demanding environments, the Starray provides a comfortable, connected, and thrilling driving experience.
Key design & features include:
Striking Exterior
With LED headlights, a bold grille, and aerodynamic styling, the Starray captures the essence of both adventure and elegance.
Unmatched Versatility
Designed with industry-leading ground clearance, dynamic suspension system, and 4WD, Starray easily transfers from urban driving to offroad terrain, presenting unmatched performance and stability. The Geely Starray is exclusively available in
owners have a hassle-free and rewarding ownership experience. To further complement the customer experience, TAC will offer customised financing schemes, extended warranty packages, and regular service promotions, further affirming Geely’s dedication to quality and customer satisfaction.
STRIKING DESIGN
Moosa Group unveils the highly anticipated allnew GMC Canyon & GMC Acadia
Moosa Group has announced the arrival of the all-new GMC Canyon and GMC Acadia, two of the most anticipated models in the GMC line-up. With their unmatched capabilities, cutting-edge technology, and striking design, these vehicles redefine the standards of premium midsize trucks and SUVs in the region.
Speaking at the launch event, Ziad Haddad, CEO of Moosa Group, stated, “We are excited to introduce the allnew GMC Canyon and GMC Acadia to our customers in Oman. These models showcase GMC’s commitment to innovation, performance, and luxury. The Canyon AT4X brings a new level of off-road capability, while the Acadia redefines premium SUV versatility. At Moosa Group, we continue to bring the best automotive experiences to our
valued customers.”
GMC has unveiled the highly anticipated GMC Canyon midsize truck, available exclusively in the AT4X trim across the region. This marks a significant addition to their premium line-up, offering off-road enthusiasts a truck that is built from the ground up to conquer any terrain.
Smaller yet just as rugged as the renowned Sierra, the Canyon AT4X is designed for extreme off-road performance. It introduces segmentfirst features such as:
• Baja Mode for high-speed off-road driving
• Front and Rear Electronic Locking Differentials for superior traction
• Multimatic DSSV Shocks for exceptional control and comfort
• Factory Lifted, Ultra-Wide Track for optimized approach and departure angles
• Off-Road Performance Display providing real-time performance metrics
• 3” Factory Lifted, Ultra-Wide Track for enhanced off-road capability
• Multimatic DSSV Dampers for superior suspension performance
• Front and Rear Electronic Locking Differentials for optimal traction control
• 2.7L Turbo Max High Output Engine delivering exceptional power with 310 hp
• 8-Speed Automatic Transmission for smooth and efficient driving
• Autotrac 2-Speed Transfer Case for seamless terrain adaptability
• Front Aluminum AT4X Skid Plate for added underbody protection
• 33” OD MT Tires designed for extreme off-road adventures
The Canyon’s advanced technology suite includes a customizable 11.3-inch infotainment touchscreen, 11-inch digital instrument cluster, and Bose seven-speaker audio system, ensuring a premium driving experience. With up to 10 available camera views, including an underbody camera, drivers can confidently navigate even
the most challenging terrains.
All-New GMC Acadia
The all-new GMC Acadia redefines the premium midsize SUV category with its bold design, enhanced technology, and spacious interior. It is longer, wider, and taller than its predecessor, offering increased passenger and cargo space for an elevated driving experience.
Key Highlights of the AllNew GMC Acadia:
• Increased Dimensions: Acadia is 10.6 inches longer and 3.2 inches taller, providing more room for up to eight passengers.
• More Cargo Space: Offers nearly 80% more storage behind the third row compared to the previous generation.
• 2.5L Turbocharged Engine: Produces 328 horsepower and 326 lb-ft of torque, enhancing towing capability up to 5,000 pounds.
• Advanced Technology: Features a 15-inch diagonal infotainment touchscreen, Google built-in compatibility, and Super Cruise hands-free driving.
• Enhanced Safety Features: Includes Adaptive Cruise Control, Rear Cross Traffic Braking, Blind Zone Steering
Assist, and Intersection Automatic Emergency Braking.
Acadia AT4 – The Most Capable Yet
• For adventure seekers, the Acadia AT4 is the most rugged version yet, featuring:
• 1-inch taller ride height for improved ground clearance
• Active Torque Control AWD system for superior traction
• 18-inch all-terrain tires for enhanced off-road stability
• Selectable Drive Modes, including Terrain Mode and Hill Descent Control
Acadia Denali – Elevated Luxury
For those seeking refined elegance, the Acadia Denali introduces premium features such as:
• Panoramic sunroof and premium leather-appointed seats
• 22-inch machined aluminum wheels, the largest ever on Acadia
• Bose premium sound system with up to 16 speakers
The all-new GMC Canyon AT4X and GMC Acadia are now available at Moosa Group showrooms across Oman. Customers can experience the ultimate blend of power, luxury, and advanced technology by visiting their nearest Moosa Group dealership.
Shell Lubricants Technology Conference, held at the Sheraton Oman Hotel. The event spotlighted Shell Oman’s role in developing cutting-edge lubricants and solutions for the construction, oil and gas and power sectors. These solutions tend to reduce the total cost of ownership, reduce energy consumption and support the transition toward a more sustainable energy future in line with the Oman 2040 vision.Commenting on the conference, Mohamed ElFatatry – General Manager – Lubricants, Supply Chain and Customer Operations at Shell Oman stated, “Innovation and collaboration are the driving forces behind a successful energy transition, and at Shell Oman, we are dedicated to developing lubricant technologies that enhance industrial performance while advancing sustainability. As Oman strengthens its position as a regional leader in energy transition, we continue to integrate sustainability at every level—ensuring our solutions are both commercially viable and environmentally responsible. This conference serves as a platform to exchange actionable insights on achieving Net Zero by 2050, emphasising the role of partnerships in shaping a lower-carbon future.
Takaful Oman drives digital innovation in insurance
In its continuous pursuit of leadership in Oman’s insurance sector, Takaful Oman Insurance SAOG has launched its comprehensive digital transformation strategy to enhance efficiency, transparency and customer experience by leveraging the latest technologies. The strategy was unveiled during a press conference organised by the company to introduce its newly upgraded website and a suite of smart solutions aimed at streamlining policy issuance, claims processing and customer interactions, marking a significant advancement in the sector. With over 200,000 digitally issued policies since 2023 on its digital insurance platform and more than 1,000 claims processed since December 2024 on its digital claims platform, Takaful Oman continues to set new standards for speed, efficiency, and reliability. Its digital-first approach aligns with Oman Vision 2040, reinforcing its role in driving financial technology and national economic progress.
featured specialized sessions on innovations in oil and gas operations and advanced solutions for the construction industry. These sessions offered indepth technical insights into modern lubricant technologies, highlighting their role in optimizing heavy machinery, extending asset lifespan, and enhancing operational efficiency in complex industrial settings. The event not only showcased cutting-edge technologies but also highlighted the importance of cross-sector collaboration in accelerating Oman’s energy transition. Discussions emphasized the role of strong partnerships with OEMs, vendors, and suppliers in setting sustainability benchmarks and driving collective progress toward a greener future. Shell Oman’s commitment to capacity building, In-Country Value (ICV) enhancement, and Omanisation was also a key focus, reinforcing its efforts to develop local talent while advancing economic and environmental resilience. By investing in innovative technologies and cleaner energy solutions, Shell Oman is enabling businesses to adapt to an evolving energy landscape, linking sustainability with long-term commercial growth and strengthening its market position.
As part of its commitment to ongoing innovation, the company is also implementing a next-generation ERP system to streamline financial operations and improve efficiency at scale. Additionally, by leveraging data-driven insights, Takaful Oman is working towards hyper-personalised insurance solutions that cater to individual customer needs, ensuring a tailored and seamless experience. The company is also developing a next-generation policy administration system for life and medical insurance, reinforcing its foundation for future growth. Commenting on these advancements,
is not just about operational improvements—it is about equipping our customers with secure, efficient and transparent insurance solutions tailored to their evolving needs thereby reshaping the industry and supporting Oman’s transition to a knowledge-based digital economy.” Echoing this commitment, Neelmani Bhardwaj, CEO, Takaful Oman Insurance SAOG, added, “Our digital transformation is a testament to our relentless focus on customer experience. We are building an ecosystem where ease of access and security are paramount. This evolution cements our leadership in digital insurance and underscores our drive to set new industry standards.”
Khedmah signs agreement with Vodafone Oman for seamless bill collection services
In a strategic initiative to expand its service portfolio and enhance customer convenience, Oman Investment and Finance Company (OIFC) Khedmah has signed a bill collections agreement with Oman Future Telecommunications (Vodafone Oman). The agreement was formalised by Said bin Ahmed Safar, CEO, OIFC, and Eng. Badr bin Saud Al-Zidi, CEO, Oman Future Telecommunications
CAUTIOUS OPTIMISM
The Dollar and USA equity market: 2025 and beyond
US President Donald J. Trump has vowed to “make America great again,” and global policymakers, economists, and private and institutional investors alike are contemplating what a Trump 2.0 administration full of tariffs, could mean for the U.S. stock market, its valuations, and short-to-medium-term trends. One important investment lesson is to avoid mixing personal political views with investment decisions. The global capital market is larger than any country or president. To paraphrase renowned British economist and father of the World Bank, John Maynard Keynes, “In the long run, we are all dead, and in the short run, you might get a margin call.” In most countries in the world a dog usually barks louder than its bite.
For 2025, the main risks to U.S. equities are widely believed to include: Trade Wars and Protectionism: Heightened tensions and policies could disrupt global supply chains, leading to cost increases and market volatility. Inflationary Pressures: Persistent inflation risks eroding consumer purchasing power and corporate profit margins. Elevated Equity Valuations: High valuations leave limited upside potential and increase vulnerability to economic shocks. Policy Uncertainty: A new Trump administration could introduce unpredictable regulatory and fiscal policies. Technological Disruptions: Emerging technologies, particularly from global competitors, could challenge U.S. market dominance.
A globally diversified, long-term investment portfolio with a tilt toward value investing and equity income strategies can mitigate most, if not all, of these risks. Since the 2008 global financial crisis and the era of massive central bank quantitative easing, the U.S. stock market— particularly the technology sector—has
been the dominant force in global equities. U.S. exceptionalism was evident as U.S. equities consistently outperformed the rest of the world (ROW) by a wide margin. Pessimism surrounding Trump’s tariff policies and their potential impacts on the global economy may be overstated, particularly within the energy sector. While tariffs could disrupt international supply chains, they may also create near-term volatility in U.S. markets. Earnings estimates for non-U.S. equities have declined since the election, while U.S. earnings have remained stable. This divergence reflects the relative resilience of the U.S. economy and corporate sector. Nonetheless, the dollar’s strength and its impact on earnings dispersion among U.S. companies remain key concerns.
The consensus among Wall Street analysts is for the S&P 500 to reach 6,509, representing a modest 7 per cent gain for the year. Consensus earnings per share (EPS) estimates stand at $266.54, an 11.8 per cent increase yearover-year. However, projections vary widely:
Bullish View: Oppenheimer’s John Stoltzfus has a target of 7,100, valuing the market at a price-to-earnings (P/E) ratio of 25.82x.
Bearish View: BCA’s Peter Berezin forecasts a target of 4,450, with a P/E ratio of 18.54x.
The median target of 6,600 suggests an 8.2 per cent return, while the most optimistic estimates from Wells Fargo indicate a 14 per cent gain. Importantly, no major analyst is forecasting a negative return for 2025.
Despite optimistic projections, U.S. stocks remain overvalued but are far from bubble territory. Fair value for the S&P 500 is estimated at 5,120 based
on a long-duration bond analysis, assuming dividends grow at 6.5 per cent annually over the next decade and slow to 5 per cent beyond that. Retail investors are more optimistic about higher stock prices in 2025 than ever before. This sentiment has led to overpayment for assets, pushing forward one-year valuations higher. Such psychological exuberance highlights the need for caution, as markets driven by sentiment often correct sharply when fundamentals reassert themselves.
Over the past 15 years, stock market returns have significantly exceeded the long-term average of 8 per cent, with inflation-adjusted returns nearing 12 per cent annually. While these returns have been fuelled by factors like low interest rates and central bank liquidity, they are unlikely to persist indefinitely. Historically, stocks cannot grow faster than the underlying economy over the long term. When valuations deviate significantly from economic fundamentals, eventual corrections follow.
As we move into 2025 full of tariffs, investors should balance cautious optimism with pragmatic risk management. While U.S. equities have demonstrated resilience, historical patterns suggest that long-term returns will align more closely with economic fundamentals. A disciplined, diversified approach will be critical in navigating the evolving market landscape under Trump 2.0 and beyond.
Rainer Michael Preiss Partner & Portfolio Strategist at Das Family Office in Singapore
