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,…
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.