Construction
From The Report: Oman 2020
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After several years of slower growth, Oman’s construction sector looks set to bounce back as the government continues to invest in infrastructure, tourism, housing and energy projects. Strong private sector activity in the retail market is also creating a promising pipeline of construction work on shopping malls and other commercial properties, while plans to build additional integrated tourism complexes have created a raft of contracts for both local and foreign construction and engineering firms. The Ministry of Commerce and Industry is the sector’s principal governing body. This chapter contains an interview with Simon Karam, CEO, Sarooj Construction.

Articles from this Chapter

Overview

A strong foundation: Opportunities for private investment are set to bolster an already solid project pipeline fuelled by diversification
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After several years of slower growth, Oman’s construction sector looks set to bounce back as the government continues investment in infrastructure, tourism, housing and energy extraction. Strong private sector activity in the retail market is also creating a promising pipeline of construction work on shopping malls and other commercial properties, while plans to build further integrated tourism complexes (ITCs) have created a raft of contracts for both local and foreign construction and…

Interview

Build and adapt: Simon Karam, CEO, Sarooj Construction, on adjusting to and thriving amid structural economic change
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Interview:Simon Karam How can developers tackle challenges like oversupply and low demand in the real estate market? SIMON KARAM: We need to review the ongoing construction projects and redefine priorities before starting new ones. The current developments are aimed at expats, so there are two measures that could be taken to meet supply: first, to reverse the trend of expats leaving; and second, to change the laws that obstruct expats from acquiring property, such as those that restrict their…

Analysis

On the home front: Focus on boosting locally produced materials and integrating the supply chain to meet growing demand
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With manufacturing identified as one of the priority sectors under Oman’s Industrial Strategy 2040, the government is seeking to reduce reliance on imports by increasing domestic production of construction materials such as cement, steel and aluminium. To this end, the National Programme for Enhancing Economic Diversification, or Tanfeedh, is supporting the establishment of cement and steel manufacturing centres in the Duqm Special Economic Zone (SEZ), Sohar Port and Freezone, and Raysut…

Overview

China’s implementation of a new trade network is energising: the global construction industry Over land and sea
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From 206 BCE to 220 CE, China’s Han dynasty fostered a booming trade industry for silk, a precious commodity in high demand among the elites of the Mediterranean. The Silk Road was the name given to the network of trade routes connecting the East and West at the time. Later, spices and other precious cargo would be traded using the system, fostering not only economic, but also cultural links between Asia and its contiguous continents. As such, the network became the information superhighway of its time as well, transmitting knowledge and expertise across distance and cultures. Extremely rapid economic expansion in China in the four…