The sultanate of Oman is divided into 11 governorates, and as the country pushes ahead with economic diversification goals various regions are being rapidly developed. Duqm Port’s handling capabilities are to be expanded, with plans for an additional 10 km of commercial berths, while at Salalah International Airport a new terminal capable of handling 1m passengers per year is now coming on...
Vision 2020’s economic diversification mandate has seen Oman’s industrial segment expand rapidly in recent years, with the non-oil sector expanding by 7.6% in 2013. The strong growth being witnessed in the petrochemicals, aluminium, steel and mining segments is expected to continue with government investment in the industrial sector projected to reach $517.88m between 2014 and 2020. Sohar,...
Oman’s real estate market has shown resilience following the global financial turmoil and is poised for future expansion as economic growth in the sultanate drives local demand. In 2013 the sector grew 6.1% over 2012 and forecasts indicate this trend will continue. Increasing numbers of integrated tourism complexes are attracting foreign investment into the sector, particularly the high-end...
The construction sector is witnessing rapid expansion in Oman on the back of government investment in major infrastructure projects. The government has budgeted an estimated $77.68bn for development projects as part of the 2011-15 five-year plan, up 113% over the previous five-year plan, with the Oman National Railway Project comprising 45% of the total value of all current transportation...
As rapid industrialisation continues in the sultanate, the utilities sector looks set to be a growth driver in terms of both construction contracts and private investment. In 2013 the Authority for Electricity Regulation reported that operators approved 276 projects worth $357.34m, and the numerous water and power plant projects in the pipeline bode well for future investors. Of particular...
Oil and gas remain key economic contributors in Oman, with hydrocarbons accounting for 85.7% of government revenues in 2013. New partnerships with the private sector have led to some of the most advanced enhanced oil recovery (EOR) projects in the world with the use of solar-fired EOR technologies playing an increasingly important role in the sector. The sultanate is expected to substantially...
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