IDO Investments has invested in Carzaty, an online car retailer in Oman, paving the way for its regional expansion in the Gulf Cooperation Council markets.

Information on the Target

Innovation Development Oman (IDO Investments) has made a strategic investment in Carzaty, a burgeoning online retailer specializing in new and used cars within the Sultanate of Oman. Founded in 2017 in Muscat, Carzaty is leveraging cutting-edge technology and contemporary retail trends to provide an affordable and convenient car buying experience. This investment aligns with Carzaty's recent expansion into the United Arab Emirates, marking the company's inaugural step towards regional growth in the GCC.

Industry Overview in Oman

The automotive industry in Oman has been evolving rapidly, driven by increasing consumer demand for transparency and convenience in the car buying process. E-commerce platforms are playing a pivotal role in transforming traditional practices, as more buyers seek online solutions for purchasing vehicles. The digital landscape in Oman is particularly conducive to such innovations, with a growing internet penetration rate and a young, tech-savvy population.

Moreover, the Omani government has been actively promoting small and medium-sized enterprises (SMEs) as a means to bolster the economy, emphasizing the