Muscat National Development and Investment Company (ASAAS)

Overview

Muscat National Development and Investment Company (ASAAS) is a prominent real estate development and investment firm based in Muscat, Oman. Established in 2014 through the collaborative efforts of ten key government entities, ASAAS aims to diversify the Omani economy by initiating and developing economically sustainable projects that meet public needs and enhance the quality of life in the country. The company's diversified development and investment mandate recognizes sectors vital to the continued progress of the national economy, including tourism, healthcare, retail, education, logistics, and transportation. Over the next five to ten years, ASAAS plans to collaborate with public and private players in these sectors to develop a diverse portfolio of projects valued at approximately OMR 1 billion. These projects encompass hotels, mixed-use developments with residential and commercial components, as well as theme parks, all contributing to the country's diversification strategy and connecting people to the national agenda. ASAAS' business strategies challenge the status quo by adopting a holistic approach to deliver sustainable economic returns, impactful social value, and attractive investment returns through the integrated development of core sector supply chains. The company's vision is to be a leading developer committed to generating sustainable returns while enriching people's quality of life. ASAAS operates under core brand values of empathy, ingenuity, initiative, commitment, and collaboration, which guide its approach to business and partnerships. The company's achievements include the establishment of Salam Air, Oman's first budget airline, and the development of the Al Khuwair Hotel and Public Park, among others. ASAAS continues to play a significant role in Oman's economic diversification efforts by investing in and developing projects that align with the nation's strategic goals.

Investment Focus

• Focus on economically sustainable projects
• Alignment with Oman's economic diversification strategy
• Collaboration with public and private entities
• Contribution to enhancing the quality of life in Oman

Portfolio Companies