Muscat:OQ Group has signed a significant agreement to fund the construction of a new Youth Center headquarters in Muscat, valued at RO 20 million. This initiative underscores OQ's dedication to social investment, aiming to enhance opportunities for young Omanis to develop skills, innovate, and engage in entrepreneurship.
According to Oman News Agency, the agreement was formalized during the Omani Youth Day celebrations, with the presence of HH Sayyid Bilarab bin Haitham Al Said, Minister of State and Governor of Muscat. The signing was conducted by Khalid Said Al Shuaibi, Chairman of the Board of Directors of the Youth Centre, and Jasim Hassan Al Ajmi, Vice President of Sustainability and Communications at OQ.
The new Youth Center will offer a variety of facilities to bolster skills development, practical learning, and entrepreneurship. This includes business incubators, co-working spaces, innovation and manufacturing facilities, training halls, and modern creative studios. The project is expected to support approximately 3,000 small and medium-sized enterprises (SMEs) and deliver over 1,000 training programs.
Ashraf Hamed Al Mamari, Group Chief Executive Officer of OQ, highlighted the importance of this contribution, aligning with government efforts to empower young Omanis and contribute to sustainable national projects. He emphasized the role of the new center in fostering a dynamic environment for skill development and economic diversification.
Khalid Said Al Shuaibi expressed gratitude for OQ's contribution, emphasizing the critical role of the private sector in supporting socially valuable projects. He noted the new headquarters as an integral addition to Oman's youth development landscape, aligning with Oman Vision 2040 objectives.
The initiative is projected to generate substantial social and economic value, with Social Return on Investment (SROI) estimates indicating a potential RO 11.4 return for every RO 1 invested over ten years. The economic value from direct employment opportunities is anticipated to reach RO 3 million.
This agreement is part of OQ's broader Social Investment Strategy, which allocated approximately RO 12 million across 256 initiatives in 2025. The Group also invests in training and professional development programs, supporting national talent and entrepreneurship through various initiatives and partnerships.
The new Youth Center headquarters aims to consolidate these efforts, promoting a diversified, prosperous, and sustainable future for Oman through enhanced learning, collaboration, innovation, and entrepreneurship.
Source Oman News Agency