Oman Design & Build Week (ODBW) is the Sultanate of Oman’s leading event for the construction, building, design, and real estate sectors that facilitates business growth, knowledge transfer and wide networking opportunities. Organized under the patronage of the Oman Ministry of Housing and Urban Planning, ODBW incorporates Oman Real Estate Expo (OREX) catering to the flourishing real-estate sector.…
Construction activity will be key to realising the objectives of Oman Vision 2040, which prioritises diversifying the economy away from a reliance on hydrocarbons revenue. Public-private partnerships (PPPs) present an opportunity to accelerate progress towards strategic goals such as affordable housing while also preserving public finances. Matching real estate supply with the precise demands of the…
As the construction industry redefines its priorities to ensure sustainability, there is increasing recognition of the benefits of regenerative architecture as a means of lowering emissions. According to the “2019 Global Status Report for Buildings and Construction” published by the UN Environment Programme (UNEP), the construction sector accounts for nearly 40% of global energy-related greenhouse…
Construction activity will be key to realising the objectives of Oman Vision 2040, which prioritises diversifying the economy away from a reliance on hydrocarbons revenue. Public-private partnerships present an opportunity to accelerate progress towards strategic goals such as affordable housing while also preserving public finances. Matching real estate supply with the precise demands of the residential…
Oman has successfully stabilised public finances by implementing cost-saving measures and reforms while benefiting from higher oil prices. Additionally, the government is focusing on enhancing oversight and consolidating public sector entities to enhance efficiencies, improve the business environment and attract greater foreign direct investment over the long term. As a result, Oman’s sover
As it eases its dependence on oil and gas, Oman has turned to integrated tourism complexes (ITCs) as a conduit for boosting construction, real estate and tourism activity. ITCs are mixed-use developments comprising residential areas, hotels, resorts, leisure activities such as golf, and other amenities, and are currently the only places where non-GCC nationals can purchase property in Oman.…
Oman’s real estate market has continued to feel the effects of slower economic growth over the past year. Rental rates have declined by more than 25% since recent highs were reached in 2014, and 2019 saw prices continue to fall amid concerns about oversupply and expatriate workers leaving the country. The residential segment has been the most affected, with a large amount of recent developments…
Urbanisation is a mega-trend redefining contemporary life in both developed and emerging markets across the world. This mass rural-to-urban movement of people and expansion of cities to absorb formerly isolated villages is a relatively recent phenomenon, at least in the developing world. According to the UN, in 1950, 751m people lived in urban areas; however, by 2018 this number had risen to…
Interview:Nasser Al Sheibani To what extent is oversupply an issue, and what are the trends within the residential segment? NASSER AL SHEIBANI: Oversupply is not the main issue per se; rather, the issue is the fact that real estate offerings do not correctly suit the market in terms of price points and style. For example, in Oman we are seeing an uptick in both young, married Omani couples…
While still largely dependent on oil and gas revenue, a strong commitment to diversification – beginning in earnest in 2014 – has seen Oman’s non-oil sector record an average real GDP growth rate of 7% since the turn of the century. The country’s strategic position near established global trade routes and a history of political neutrality is opening up opportunities for Oman in transport,
