Real Estate
From The Report: Oman 2016
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Oman’s real estate sector has continued to grow in recent years, and despite the fall in oil prices, demand, particularly from the private sector, has helped fan development. Projects that target niches, such as high-end offices, units in integrated tourism complexes, shopping malls and gated communities are flourishing. The residential leasing market saw five consecutive quarters of stability to the second quarter of 2015, as steadily rising demand matched new projects coming onto the market and the economy expanded at a steady pace. Meanwhile, Muscat’s retail mall market remains buoyant, and as of autumn 2015 all malls were at 100% capacity. This chapter contains an interview with Sheikh Salim bin Ahemd Al Ghazali, Chairman, Golden Group of Companies.

Articles from this Chapter

Overview

Strategies for success: Ongoing investment in a series of major projects is expected to offset the adverse effects of a continuing drop in oil prices
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Oman’s growth path since the turn of the century has seen its real estate market develop into one of the most interesting in the region. Equilibrium has been reached after the correction following the global financial crisis, and projects in several segments have pushed on. Continued government investment has helped offset some of the effects of lower oil prices, while strong demand in a range of niches has brought success to the better-planned developments. Recent Performance From 2008 to 2011,…

Interview

A choice investment: OBG talks to Sheikh Salim bin Ahmed Al Ghazali, Chairman, Golden Group of Companies
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Interview:Sheikh Salim bin Ahmed Al Ghazali How attractive is the real estate sector in Oman to domestic and foreign investors? SHEIKH SALIM BIN AHMED AL GHAZALI: Real estate investment in Oman is the best business for investors. Luckily, the country offers many opportunities in various sectors that will help attract international brands. Most foreign investors look to invest their capital in a safe place, where they are comfortable and free to move in and out of the market. At the same time,…

Analysis

Complex developments: Integrated tourism complexes have been a success for the sultanate and look set to expand
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Integrated tourism complexes (ITCs) are a key magnet for investment in the real estate sector. ITCs are zoned areas that allow foreign nationals to own property on a freehold basis, and mostly also grant investors two-year visas, renewable on application. Generally, only leaseholds are available to non-Omanis. Success Stories At present, Muscat has three main ITCs in operation, Al Mouj Muscat (once known as The Wave and now rebranded with the Arabic word for “wave”), Shangri-La’s Barr Al…