Market pressures that have weighed on Oman’s real estate sector since oil prices fell from their historic highs three years ago continue to affect its performance, and the state has adjusted to lower revenues by trimming budgets and paring back some investments. Growth in public payrolls and jobs – a key driver of real estate demand – slowed...
Many large construction projects in Oman are developed under public-private partnerships (PPPs), whereby a state-linked institution joins forces with a private company or multinational to carry out a project in the common interest.
Four initiatives under way at the Ministry of Housing (MoH) could have a considerable impact on the broader real estate sector over the course of 2018, namely the centralised processing of transactions, passage of new regulations, software to ease information collection and create indices, and an affordable housing programme. “The aim is to...
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...
Domestic output of both steel and cement has recorded a substantial rise amid recent price pressures, suggesting the supply of building materials will continue reliably at cost-effective levels as the country looks to clear a large infrastructure project pipeline on a tighter budget. With regional demand set to continue growing – by as much as...
Located in the south-eastern quarter of the Arabian Peninsula, Oman is the only member of the GCC situated outside of the Gulf. Leveraging its strategic location, Oman has invested in infrastructure with the goal of becoming a global logistics centre. While the country is less hydrocarbons-rich than its GCC neighbours, diversification efforts...
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