The report titled “Oman Real Estate Market Outlook to 2013” discusses in details various aspects of Oman’s real estate market with the focus on the government initiatives to attract foreign investors in the country and rising domestic population. The report covers the comprehensive analysis on the market size of the real estate sector in Oman on the basis of supply and contribution of the real estate sector to the economy of the country, market segmentation, competitive landscape and company profiles of major developers operating in Oman. The report also entails the SWOT analysis of the real estate sector in Oman. The future projections and outlook provide an insight on the future growth drivers and challenges in the real estate sector of Oman.
The real estate sector of Oman is building the momentum, together with the economic confidence and property ownership rules as laid by the Government to persuade the foreign investors to invest in the market. In 2010, the market seemed to enter a recovery phase as more expatriates returned to the nation with the intent to secure a residential property at lower rates. In addition, with an increase in the employment opportunities in the nation, the higher requirement for affordable housing was recorded in the year. Oman’s real estate market value has grown at a CAGR of ~% for the period 2005-2010.
The residential rental market in Oman which majorly comprises of emigrants has witnessed a decline in the housing budget along with a demand for better designed houses as tenants are demanding for better designed and articulated houses at lower rates. A strong demand for already constructed better designed houses was recorded from the traditional Omani’s in the year as people do not seek to involve themselves in the purchase of land and construction of the houses.
The office market in Oman is currently over supplied. The office spaces encompass a majority of grade B or grade C office spaces or residential property turned office premises. The recent past has felt a demand for grade A office space as tenants seek to take the advantage of declining rentals and lack of demand for the office spaces.
The real estate market in Oman is expected to enter a recovery phase with an increasing level of demand for affordable residential properties from the expatiates, as well as the Omani families, preference for supper markets and small scale shopping malls and the government’s initiative to increase the number of inbound tourists in the country recently . Following these developments and expectations a fresh supply of ~ GLA thousand square meter of real estate space is expected to enter the market.
Key Topics Covered in the Report:
- The market size of the real estate sector in Oman on the basis of total supply and the contribution of the sector to the GDP of the economy, 2005-2010.
- Market segmentation of the Oman real estate market by residential, office, retail and hotel on the basis of total supply, 2005-2010
- Recent trends and developments of the Oman real estate market
- SWOT analysis of the Oman real estate market
- Market share of the major real estate developers operating in Oman, 2010
- Company profiles of leading developers in the real estate market in Oman
- Future outlook and projections of the supply of residential, office, retail and hotel spaces, 2011-2013
- Cause and effect relationship analysis between industry factors and expected industry prospects in the Oman real estate market
- Historical and future forecast of several macro-economic and industry factors including Population, GDP, number of tourist arrivals, inflation and housing finance