Oil production retains its key role in the economy, however plans are under way to encourage diversification away from hydrocarbons towards an economy that is more knowledge based. The political climate has been characterised of late by a number of disputes, often resulting in either the resignation of the government or the dissolution of parliament, which has contributed to the slow progress of some projects.
Steady residential demand from a young and wealthy population and increased government spending on commercial development projects is helping the real estate market get back on track, with clear signs of recovery in the industry. Recent legislation, including new laws giving women stronger homeownership rights, and allowing Islamic banks to offer...
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