Latest news with #OmanTowerCompany
Muscat Daily
01-07-2025
- Business
- Muscat Daily
Brookfield acquires majority stake in Oman Tower Company
Muscat – Oman Tower Company has announced that Brookfield Global Investment Firm has acquired a majority stake in the company, marking a significant milestone in the evolution of Oman's telecommunications infrastructure sector. Oman Tower Company is a leading independent provider of telecommunications towers in the sultanate, managing a portfolio of over 2,450 sites across various governorates. The company plays a pivotal role in supporting the growth and expansion of telecom networks across Oman. Brookfield, one of the world's largest alternative investment managers, brings extensive global experience to the partnership. With over US$1tn in assets under management, Brookfield operates the world's second-largest portfolio of telecommunication towers, encompassing approximately 315,000 sites worldwide. The firm has also been a major direct foreign investor in the GCC region since 1997, with a current regional asset portfolio valued at approximately US$15bn across infrastructure, private equity, and real estate sectors. Majed bin Amer al Kharoosi Commenting on the development, Majed bin Amer al Kharoosi, CEO of Oman Tower Company, said, 'This strategic partnership with Brookfield marks a new chapter in our company's journey. It is not merely an investment transaction, but a launch-pad for future growth, enhanced operational excellence, and institutional development.' He is of the opinion that the collaboration 'will elevate our governance standards, strengthen business sustainability, and enable us to better align with Oman's national development goals and future opportunities in the telecommunications sector'. The partnership is expected to bring in world-class expertise and innovation, positioning Oman Tower Company as a key regional player in digital infrastructure and contributing to the Sultanate's broader digital transformation agenda.
Times of Oman
01-07-2025
- Business
- Times of Oman
Brookfield acquires major stake in Oman Tower Company
Muscat: Oman Tower Company (OTC), the independent telecom tower infrastructure provider in Oman, announced today that Brookfield acquired a substantial stake in the company. OTC is Oman's fastest growing telecom tower infrastructure company, having started operations in 2019 and rapidly scaled up to a pan-Oman portfolio of more than 2,400 telecom Sites with key partnerships across all mobile operators in Oman. Majid Al Kharoosi, Managing Director of OTC said: 'This move is a new phase of growth and development for OTC and the Omani telecommunications sector.' Globally, Brookfield owns and operates high-quality, long-life assets in the utilities, transport, midstream and data sectors. Brookfield's tower portfolio is the second largest in the world and includes approximately 315,000 sites. Brookfield is one of the largest foreign direct investors in the Gulf Cooperation Council. Brookfield has built a portfolio of approximately $15 billion of managed assets across infrastructure, private equity and real estate. Moreover, Brookfield Asset Management Ltd. is a leading global alternative asset manager with over$1 trillionof assets under management across renewable power and transition, infrastructure, private equity, real estate, and credit.
