Oman Towers Ousters Strategic Alliance with Brookfield to Boost Telecom Development
The telecom sector in Oman received a significant boost recently with the completion of the strategic partnership between Oman Towers and global asset management giant, Brookfield. The partnership, announced in June, was celebrated in a recent ceremony, marking a milestone for the Sultanate's telecom infrastructure sector.
Established in 2018, Oman Towers oversees around 2,450 tower sites nationwide in partnership with mobile operators. With the acquisition of Oman Towers, Brookfield, which manages over US$1 trillion, has positioned itself as the world's second-largest tower operator and the largest outside China.
The deal extends beyond capital investment, according to Majid Amer Al Kharoosi, CEO of Oman Towers. It aims to ensure long-term sustainability for Oman Towers and strengthen governance at the company. The partnership aligns with Oman's national digital ambitions and will reinforce Oman Towers' financial and operational capabilities.
Brookfield's entry into the Omani market expands its growing telecom tower footprint in the Middle East. The deal adds to Brookfield's global network of approximately 315,000 tower sites. Despite taking a controlling stake, Burooj Telecommunications Networks and Al Souroh Investment remain on board as strategic partners for Oman Towers.
The chairman of Oman Towers involved in the partnership ceremony with Brookfield is Eng. Ali Al Salami. The partnership signals increased international investor confidence in Oman's telecom tower market, with the Sultanate's market receiving heightened attention due to the Brookfield-Oman Towers partnership.
The Brookfield-Oman Towers partnership is significant for the Sultanate's telecom infrastructure sector, positioning Oman Towers as a key player. The partnership will further strengthen Oman Towers' role in the sector, ensuring continued growth and development in Oman's telecom sector.
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