Despite the impact of the oil price downturn, the sultanate remains an attractive proposition for GCC-focused retailers and international brands. Compared to neighbouring markets in the UAE, Kuwait and Qatar, the retail footprint in Oman is less formalised and growing from a smaller base. Retail space per capita is the lowest in the GCC at 0....
In January 2016 the Oman Supreme Council for Planning published the sultanate’s ninth five-year plan, covering 2016 to 2020. The plan is the final component of the government’s long-term Vision 2020 development strategy, focused on reducing reliance on the energy sector’s contribution to GDP and boosting non-petroleum industrial activities...
Sentiment in Oman’s real estate sector remains cautiously upbeat in the face of a downturn in the global price of oil and the consequent impact on government expenditure plans in the sultanate. Residential rental prices have softened in some areas, with landlords preferring to trim prices to avoid untenanted periods in their properties, but in...
Faced with lower oil revenues than in previous years, it is perhaps unsurprising that the government of Oman should look to more vibrant areas of the economy as a source of additional tax revenues. However, when the Ministry of Housing hiked real estate transaction fees for sales and leasing in February 2016, from 3% to 5% of the land value,...
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