Real Estate
From The Report: Oman 2019
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As Oman’s economy starts to feel the effect of resurgent oil prices, its gradually recovering property market is creating brand new opportunities for both tenants and property buyers. Although a growing number of departing expatriates, rising Omani unemployment rates and limited salary increases have limited the property market’s potential since the decline in oil prices starting in 2014, the sultanate’s young population and carefully managed economy ensure that it continues to possess the fundamentals necessary for long-term investment value.

This chapter contains an interview with Sheikh Salim bin Ahmed Al Ghazali, Chairman, Golden Group of Companies.

Articles from this Chapter

Overview

Road to recovery: Stronger economic growth and favourable demographics are expected to increase market activity
OBG
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As Oman’s economy starts to feel the effect of resurgent oil prices, its gradually recovering property market is creating brand new opportunities for both tenants and property buyers. Although departing expatriates, Omani unemployment rates and limited salary increases have limited the property market’s potential since 2014’s decline in oil prices, Oman’s young population and carefully managed economy ensure that it continues to possess the fundamentals necessary for long-term investment…

Interview

Adaptive approach: Sheikh Salim bin Ahmed Al Ghazali, Chairman, Golden Group of Companies, on responding to the play of supply and demand
OBG
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Interview:Sheikh Salim bin Ahmed Al Ghazali How do global oil prices affect demand for residential and commercial property? SHEIKH SALIM BIN AHMED AL GHAZALI: There is undoubtedly a relationship between the petroleum market and demand for properties in both segments, due to the fact that Oman’s economy is more than 85% dependent on oil and gas revenue, and that the 2018 budget was prepared on the basis of hydrocarbon prices. Every domestic sector, not only real estate, is highly dependent…

Analysis

Domestic bliss: Smart technology is boosting the appeal of high-end housing
OBG
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Developers of some of Oman’s most prestigious residential and mixed-use projects are integrating smart technology as a means to create operational efficiencies and increase investment appeal, establishing the sultanate’s first smart cities and smart homes. While smart homes are currently limited to the higher end of the residential market, smart city technology is set to play a significant role in Oman’s largest new urban developments. Smart homes are characterised by the integration…