Oman’s Rakiza Fund is quietly becoming a powerful force in the Middle East’s infrastructure space. Co-managed by Oman Infrastructure Investment Management (OIM) and global infrastructure specialist Equitix, the fund is deploying capital across a mix of high-impact sectors—spanning energy, transportation, telecom, and social development.
Since its establishment, Rakiza has attracted over $1 billion in funding and has already begun transforming Oman’s economic landscape while expanding into Saudi Arabia. With more than 25% of its capital already invested, Rakiza is fast-tracking infrastructure upgrades that promise long-term growth for the region.
A Strong Start in Oman
Rakiza Fund’s domestic investment strategy focuses on critical assets that support both economic diversification and long-term public benefit. In Oman, four standout deals illustrate this approach.
One of its key acquisitions is a 30% stake in Omantel’s passive tower infrastructure, aimed at enhancing digital connectivity and mobile coverage across the country. By supporting infrastructure sharing, the deal improves service quality and reduces carbon footprints—contributing to Oman’s digital transformation goals.
The fund also invested in Sohar Port’s Oman International Container Terminal, acquiring roughly 31% of the facility. This major gateway is crucial to Oman’s ambition of becoming a regional logistics hub. The investment bolsters port efficiency, increases cargo throughput, and supports growing regional trade.
Another core initiative is the Khazaen Fruit & Vegetable Central Market—one of the largest agri-distribution platforms in the Sultanate. Rakiza’s majority ownership helps modernize food distribution, improve supply chains, and promote food security for future generations.
Perhaps one of the most strategic moves is Rakiza’s 39% stake in Oman Broadband Company. This investment enhances the national fibre-optic network, extending high-speed internet to urban and rural areas alike, and enabling key government services to go digital. It positions Oman Broadband as a key enabler of e-governance and digital economy initiatives.
Crossing Borders into Saudi Arabia
Rakiza’s reach expanded beyond Oman in early 2024, when it closed its first international deal—acquiring a 40% stake in Saudi Arabia’s Tihama Power Generation Company. Partnering with French multinational Engie (which holds 60%), Rakiza now co-owns four combined heat and power (CHP) plants providing 1,600 megawatts of power and over 6 million pounds of steam per hour.
These plants serve Saudi Aramco under long-term contracts, ensuring consistent returns while contributing to energy efficiency and carbon reduction. CHP systems capture waste heat to generate additional energy—supporting regional goals for cleaner, smarter utility solutions.
This bold move into Saudi Arabia underlines Rakiza’s regional ambitions and its ability to operate in new markets with strong local partnerships and global best practices.
What Sets Rakiza Apart?
In an increasingly crowded investment space, Rakiza’s strategy is refreshingly focused on long-term value, sustainability, and local engagement. Several factors make the fund uniquely positioned for success:
- Strong Sovereign Backing: OIM’s ties to Oman’s government unlock exclusive access to key public-private partnerships (PPPs).
- Global Expertise: Equitix brings decades of international infrastructure experience, having managed over $10 billion in assets worldwide.
- Robust Due Diligence: Each deal is grounded in operational analysis, environmental stewardship, and public benefit—ensuring social value in addition to profits.
- First-Mover Advantage: Oman’s early adoption of privatization and PPP frameworks has helped Rakiza move swiftly where others tread cautiously.
Combined, these strengths allow Rakiza to target critical infrastructure projects with both economic and developmental potential—giving investors a unique blend of financial return and social impact.
Digital Infrastructure: Laying the Foundation for the Future
The investment in Oman Broadband isn’t just about faster internet. It reflects a larger trend where infrastructure funds play a growing role in digital inclusion and tech-enabled development.
As Oman pushes forward with Vision 2040, universal broadband access becomes a foundation for educational, financial, and governmental digital services. Rakiza’s role in this transformation highlights how infrastructure investment is no longer confined to roads and power plants—it’s about building the modern digital economy.
Rakiza’s engagement with Ithca Group, another major digital player in Oman, further cements its role in facilitating a digitally connected and inclusive society.
Ports, Logistics, and National Competitiveness
Sohar Port’s inclusion in the Rakiza portfolio reinforces Oman’s strategic role in global supply chains. With port activity growing year on year, the investment supports terminal expansion, automation, and cold storage facilities—helping Oman compete with larger regional ports like Jebel Ali in the UAE.
As the Sultanate looks to develop Duqm Port and other special economic zones, Rakiza is expected to play a continued role in financing and operating modern logistics infrastructure.
Efficient trade infrastructure isn’t just about exports. It’s also vital for ensuring national food security, rapid emergency response, and economic diversification—a key goal for Oman’s post-oil future.
People-Focused Infrastructure
Rakiza’s investment in the Khazaen Central Market proves that infrastructure can—and should—serve the people. This facility handles fruit and vegetable distribution at a national scale, enabling fair pricing, reducing waste, and improving access to fresh produce for consumers and businesses.
By modernizing agri-infrastructure, the fund supports local farmers and traders, improves hygiene and safety standards, and reduces dependency on foreign supply chains. These are infrastructure improvements that make a daily difference in people’s lives—while still generating steady returns.
Such investments help shift the conversation around infrastructure away from purely technical projects to social assets that empower communities and support national wellbeing.
Future Opportunities and Pipeline
Rakiza isn’t done yet. With significant capital still unallocated, and a robust pipeline of public-private partnerships on the horizon, the fund is expected to make major announcements in the near future.
Emerging opportunity areas include:
- Renewables: Wind, solar, and hybrid projects, especially in desert and coastal areas.
- Water Infrastructure: Desalination, wastewater treatment, and smart water management.
- Transport Corridors: Roads, airports, and urban transport systems to reduce congestion and support tourism.
- Healthcare and Education: Private sector-led development of hospitals and schools.
Many of these assets come with long-term concessions and guaranteed income streams, making them attractive for institutional investors while serving public interests.
With more than $5 billion worth of upcoming projects across the Gulf, Rakiza’s role is only set to grow.
A Human-Centric Approach to Growth
What makes Rakiza different isn’t just the sectors it invests in—but how it goes about those investments.
By putting people at the center—be it through improved connectivity, local food systems, or energy efficiency—the fund humanizes infrastructure. It transforms “assets” into impact. Roads become trade routes, fibre networks become classrooms, and ports become national engines of prosperity.
Rakiza’s success lies in this balance: between financial discipline and development focus, between technical excellence and community impact, between local insight and global scale.
It’s not just building projects—it’s building a better region.
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