ASAAS

We aim to increase the contribution of non-oil and gas sectors by initiating and developing economically sustainable projects to meet the needs of the public and enrich life in Oman.

Muscat National Development and Investment Company (ASAAS) was founded in 2014 through the concerted efforts of 10 key government entities.

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. Over the next 5-10 years, the company’s collaboration with public and private players in tourism, logistics, retail, transportation, healthcare and education will see the formation of a project portfolio with a target valuation of OMR 1bn.

Undertakings include an extensive range of project-based possibilities, ranging from hotels and mixed-use developments with residential and commercial components to leisure-based attractions. ASAAS’ investments, co-investments, funding and asset management will however remain focused on opportunities that connect people with the national agenda of economic diversification. One of ASAAS’ anchor projects is Oman’s first budget airline, which is anticipated to advance the nation’s tourism and aviation sectors.

Vision, Mission, Values

ASAAS’ vision is to enrich life in Oman with a strong commitment to generating sustainable economic returns. In its mission to initiate, collaborate and deliver businesses that improve the wellbeing of society, as well as driving shareholder value and contributing to the national agenda for economic diversification, ASAAS operates under a number of core brand values:

Empathy

Empathy reinforces our value of understanding the needs and wants of different stakeholders and accordingly, delivering projects and investment opportunities that are vital for the growth of Oman economy.

Ingenuity

ASAAS’ key competency is built upon its ability to identify investment opportunities, as well as its commitment to meet public demand with intelligent solutions that counter existing challenges, and its pursuit of original ideas defined by resourcefulness, efficiency and pragmatism.

Initiative

Building an entrepreneurial mindset, taking measured risks, increasing shareholders’ wealth, and exploring new business initiatives that contribute to the growth of Oman as a nation are what define ASAAS’ approach to business.

Commitment

ASAAS’ success is simply based on delivery and execution. Delivering more than promised is an entrenched working culture that serves the company as a strong driver of achievement.

Collaboration

ASAAS’ business model evolves around the collaboration of the public and private sectors’ efforts to best achieve the company’s goals. The key partnership also lies between ASAAS’ employees and partners.

Achievements

15.07.2014

ASAAS 

29.02.2016

Salam Air

Oman’s first budget airline
13.03.2016

Al Khuwair Hotel and Public Park

Hilton Garden Inn Muscat
25.05.2016

Kayan

Construction Management Company
22.12.2016

National Entertainment & Leisure Destination

Hospitality, water and theme parks, retail, dining and entertainment
09.05.2017

Oman Air Crew Reporting Facility

Muscat International Airport

Shareholders

Oman Investment Authority

Civil Service Pension Fund

Muscat Municipality

The Sultan Special Force Pension Fund

Ministry of Defense Pension Fund

Public Authority of Social Insurance

Royal Oman Police Pension Fund

Oman National Investment and Development Company

Internal Security Service Pension Fund

The Royal Office Pension Fund

Board of Directors

Abdullah Al Mamary

Chairman

Sheikh Abdulaziz Al Saadi

Deputy Chairman

Ahmed Al Busaidi

Board Member

Hashil Al Mahrouqi

Board Member

Sheikh Dr. Abdulaziz Al Hanai

Board Member

Yaser Al Wazzan

Board Member

Rashid Al Hashmi

Board Member