Oman real estate sector on recovery path: reports

Muscat: A recent report by the Indian research company Mordor Intelligence predicted the commercial real estate sector to continue its recovery and growth in the Sultanate of Oman during the next five years.

The report, which was published by the company on its website, said that the Omani real estate market is recovering, which is one of the main factors that are expected to encourage private sector investments in the Sultanate of Oman, and thus the growth of the commercial real estate sector due to the continued recovery of oil prices, and the start of natural gas production in the Khazzan field. It gives a boost to the country’s GDP growth, and this growth is also expected to boost the performance of the commercial real estate sector in the Sultanate.

The report also pointed out that the amended Real Estate Investment Funds Regulations issued by the Capital Market Authority enhances the activity of the real estate market in the Sultanate of Oman, as it allows residents to buy shares from real estate development companies listed on the Muscat Securities Market.

The report also mentioned that Oman, as part of its plans to reduce its dependence on oil and diversify the economy, has also opened the real estate sector to expatriate investments in Integrated Tourism Complexes (ITCs), which are freehold mixed-use development projects, featuring different asset classes, including residential, hospitality and retail. and entertainment.

The report said that commercial real estate in the Sultanate is also gaining momentum from the transformations that the retail market is going through, and changing consumer preferences.