Faced with public investment cutbacks and a broad economic slowdown in the wake of lower oil prices, Oman’s construction sector continues to grow at a brisk pace, bolstered by state-led diversification efforts, high income levels and relatively low labour costs. The building industry grew by a robust 10.4% in 2016, up markedly on the two...
Despite public investment cuts and a broad economic slowdown in the wake of lower oil prices, Oman’s construction sector continues to grow at a relatively brisk pace, bolstered by state-led diversification efforts, high income levels and relatively low labour costs. The building industry grew by a robust 10.4% in 2016, up markedly on the two previous years, according to the latest official...
The effects of lower oil prices continue to be felt in Oman, with budget cuts and spending rationalisation still in evidence across the board. However, higher commodity prices in late 2017 and into early 2018 should provide a welcome boost to state revenues.
Increased private sector participation in Oman’s project pipeline, and draft bills to ease workforce restrictions and allow 100% foreign ownership, look set to help drive continued expansion in the country’s construction sector over the medium to long term.
How much potential is there for the public-private partnership (PPP) funding model to boost major development projects in Oman?
With a multi-billion-dollar pipeline of public sector contracts and significant private sector developments planned for the remainder of the decade, the construction sector remains a highly significant and growing sector of the Omani economy. In the face of substantial headwinds driven by lower oil prices since the middle of 2014, the...
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