Market Insight

The plans approved by His Majesty Sultan Qaboos bin Said, Oman is to spend OMR14.1 billion
Oman Vision 2020: The Eighth Five - Year Plan (2011 - 2015) expenditure has been hiked from US$ 111.8 billion to US$ 150 billion.
New construction projects are increasing the number of hotels in the country, with 17 properties set to open their doors between 2012 and 2016.
Government is spending US$ 208 million annually to implement housing projects.
Oman’s hospitality future supply is estimated at an additional 4,100 hotel rooms within the next 5 years.
First phase of Salalah’s US$ 1 billion medical city to open in 2016.
US$ 15 billion investment in Salalah Free Zone by 2025. SFZ currently has an aggregate investment of US$ 3.6 billion; the first phase of the strategic action plan for the zone’s growth will target increasing that value to US$ 5 billion by the end of 2018.
Development of Omagine mixed-use scheme comprising an enclosed harbor and marina, including a selection of five, four and three-star hotel resorts, restaurants, retail shops, entertainment avenues and other leisure facilities.
An OMR 315 million boom in the property sector of Oman has seen real estate sales soar in the Sultanate. The real estate scene in Oman is looking exceedingly bright, with sales figures registering a 69.7% increase by the end of August 2014.
The master plan process for the $2.3 billion 'Omagine' project will begin in January, 2015. It will feature seven pearl-shaped buildings (the Pearls), each with a theme centered on the great cultural, historical and scientific ideas of the world, including Oman's varied history and culture.
Additional budget (22.5% of total project costs) is allocated to interior contracting and fit-out projects in the hospitality sector than in any other sector within the GCC’s building construction industry.
The expansion of the Muscat international airport will see the raise in demand for furniture.
Only seven hours flying time to 50% of the world’s population, the Sultanate of Oman has captured the world’s attention, being named as one of the world’s most exciting emerging convention destinations.
Land allotted to Duqm Beach Resort for USD 500mn mixed-use project, The USD 500 million mixed-use project will span an area of 45,0000 square meters and will feature a 5-star and a 4-star beach resort, an entertainment and recreation area, residential units, an international school and commercial space for retail centers and offices.
A total of 57 road projects will be implemented in Oman, which includes 7 tunnels & 24 bridge projects worth a total of RO3.5 billion covering 12,704km
Oman’s infrastructure is on the verge of a huge expansion, with investment worth US$78 billion to be largely allocated to transport infrastructure such as road projects, bridge structures, tunnels and national railway networks being developed over the next 5 years.