The sultanate’s economy continues to enjoy the benefits of petroleum wealth, which has provided budget surpluses in most years and served as a backbone for growth. However, planning is well under way for an era in which oil will not be the main economic driver, with the twin goals of diversification and creating an increased number of private sector jobs at the top of the government’s current agenda.
One of the largest planned construction investment in the country is Oman’s national railway, estimated at $15bn. The government, funding the project with support from other GCC states, hopes that it will be a catalyst for economic diversification and underpin the long-term growth of sectors like manufacturing and logistics. The railway will link the major ports and...
The government is by some measurements the largest source of demand for construction services in Oman. In recent years the sultanate has wholeheartedly embraced competitive tendering, encouraging private and international firms to participate as much as possible. Almost all public sector procurement is conducted under the Tender Law, promulgated...
Tracking the resurgence of the construction sector, and the property market across the region, Oman’s cement industry is enjoying rising profitability, and looks to ramp up production as demand increases domestically and internationally. Cement demand across the GCC is expected to grow 6-7% in 2014, up from 4-5% in 2013, according to an October...
With a range of big-ticket projects coming on-stream as the country gears up its economic diversification strategy, Oman’s construction sector is seeing something of a resurgence. The market is highly competitive, thanks in no small part to the government’s encouragement of foreign and private sector participation. This is in turn squeezing...
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