Investment Thesis
Oman’s genuine geographic competitive advantages — outside the Hormuz Strait, on the Asia-Europe trade lane, with deep-water ports at Salalah, Sohar, and Duqm — create a credible logistics hub investment thesis. ASYAD Group’s consolidation of port and logistics assets provides a coherent institutional vehicle.
Investment Opportunities
Port and terminal operations:
- Salalah Port concession — potential for international terminal operator participation
- Duqm Port expansion — growing volumes as refinery and future green hydrogen operations scale
- Sohar Port bulk and liquid terminals — industrial cluster-linked volumes
Free zone industrial real estate:
- Industrial plots in Duqm SEZ, Salalah Free Zone, Sohar Free Zone — long-term leasehold (30-50 years)
- Warehousing and logistics facilities adjacent to ports
- Cold-chain infrastructure for fisheries export
IMEC-linked positioning:
- Rail connectivity investment (Duqm-Muscat corridor under development)
- Inland container depot and dry port development
- Multimodal logistics platform development
ASYAD Group Equity Potential
ASYAD Group has not been publicly listed — if a partial IPO proceeds (aligned with Vision 2040’s privatisation agenda), it would represent one of the most significant logistics equity offerings in the Indian Ocean region.
Risk Framework
IMEC uncertainty: The IMEC corridor’s realisation timeline is deeply uncertain — geopolitical obstacles may delay by 5-10+ years.
Trade flow volatility: Container shipping volumes are cyclical; transhipment hub economics depend on shipping line route decisions that can shift with market conditions.
Competition: Salalah’s transhipment position faces competition from Aden (currently inactive due to Yemen war) and potential Indian Ocean port development in East Africa.