Its interesting for a couple of reasons. Mainly because it formalises the dirty little secret that UK presence in the region since 71 has been officially 'temporary' or 'operationally linked'. In other words, we weren't there because it was there, we were there because it was linked to a named Op.
Now its a clear declaration that we are in town permanently, and I suspect it will lead to subtle but important funding changes on how the area is manned and supported.
In reality it is about formalising the extant set up into slightly better buildings, and taking what is a temporary area and making it permanent. Its not about creating the next Portsmouth, although I'm sure others will see it that way.
For way of comparison, the US, French and Australians all operate facilities of a similar size and scope in region already.