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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,...

The uncertainties surrounding global oil production and price have done little to suppress interest in liquid bulk storage and hydrocarbons logistics projects in Oman. Across the sultanate hundreds of kilometres of pipeline are being laid, and new facilities for gas and oil storage and export are coming on-stream. At the same time, low oil...

As part of a broad series of austerity measures aimed at plugging the sultanate’s growing budget deficit, a joint council of the State Council and the Majlis Al Shura – both advisory bodies appointed by the sultan – voted on May 26, 2016 to increase the corporate tax rate on liquefied natural gas (LNG) firms from 15% to 55%. The new raft of...

Driven by rapid industrialisation, a growing population base and state-funded investments in major infrastructure projects, demand for electricity and water has surged in Oman over the past decade. Peak power demand on Oman’s Main Integrated System (MIS) has more than doubled since 2006 and water demand has almost tripled, according to Finnish...