OMINVEST supports a social entrepreneurship project by Al Rahma Association
Muscat, May 9, 2022: With a commitment towards the development and growth of Omani communities and the society, OMINVEST – the leading investment company in the Sultanate of Oman - has extended support to Al Rahma Association by providing project management services through its fully owned real estate subsidiary “ORIS”.
The support includes conducting technical due diligence to the project and supporting in preparing specifications for the overall project and analysing the same for tendering, as well as assessing tender submissions for the selection of the consultants and contractors for the new Al Rahma Centre, a building which will include approximately 20 shops for leasing. The total construction built up area is 6,229 square meters for a total cost of OMR 1.6 million. The Centre will also include administrative offices for the Association and meeting rooms, while also acting as a venue for workshops that families looking to sell home-made products can use.
Al-Rahma Centre is scheduled to be established on usufruct land granted by the Ministry of Housing and Urban Planning in the Al-Khoudh area. The new Centre will be the Association’s largest sustainable project, one of a number of projects for which ORIS is providing technical support.
The Centre will act as a social enterprise for Al Rahma Association, with the generated income expected to cover the Association’s initiatives, including payment of bills, purchasing of required equipment for the Centre, study aids for university students, Iftar spreads and gifts for Eid.
Commenting on OMINVEST’s contribution to the project, AbdulAziz Al Balushi, Group CEO, said, “We believe in working closely with social impact partners that align with OMINVEST’s social responsibility strategy, which in turn is built on our corporate vision of “Transforming Businesses to Enrich Societies.”
He added “We commend Al Rahma Association for their contribution to communities across the Sultanate. Their efforts to provide financial and non-financial support to families in need is honourable and praiseworthy. Businesses such as ours can be significant catalysts for creating scalable social value by supporting sustainable social entrepreneurship projects and programmes such as theirs”.
To further lend support to Al Rahma Association, and to encourage employee engagement, OMINVEST also promoted the ‘Riyalak Million’ campaign to its staff and companies within the OMINVEST Business Centre during the Holy Month of Ramadan, with aims to assist the Association in collecting funds for the construction of Al Rahma Centre.
Founded in 1983, OMINVEST is one of the largest investment companies in the region. Its long-term vision is to be a prominent investment group with significant global reach and tangible societal impact. The company seeks to create value for all its stakeholders by prudently investing in growth sectors and markets while implementing innovative solutions, scalable platforms and impactful initiatives.