MarkNtel Advisors recently published a detailed industry analysis of the Oman Residential Real Estate Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Oman Residential Real Estate Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The Oman Residential Real Estate Market size is estimated to grow at a CAGR of around 9.8% during the forecast period, i.e., 2024-30.
What are the major Driver the Oman Residential Real Estate industry?
Strategic Developments Enhancing Urban Living Propel the Oman Residential Real Estate Market – There has been a noticeable surge in the number of expatriates in Muscat, which has significantly increased the demand for rental accommodations. This shift has particularly highlighted the desirability of well-managed residential communities, known for their quality properties, professional management, and comprehensive amenities including retail, food & beverage outlets, and leisure facilities, making them top choices in the city. Further, in tandem with this growing demand, Oman has initiated several large-scale integrated housing projects. These developments are designed to offer mixed-use residential areas that comprehensively cater to the needs of their residents. For instance
- In 2024, the Oman government announced its plans for a USD 2.4 billion Omani Mountain Destination project in Jabal al Akhdar. The project is in alignment with Oman Vision 2040, which would include residences, hotels, and a health village.
Hence, these efforts would allow the country to reduce the supply-demand gap in the residential real estate sector, specifically in urban areas. These efforts also showcase Oman’s proactive approach to urban development, ensuring high-quality living spaces within vibrant, fully integrated communities, catering to both local citizens and the growing expatriate community. Thus, the upcoming projects would further augment the size & volume of the Oman Residential Real Estate Market during the forecast period.
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What segments define the Oman Residential Real Estate Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
- By Type
- Apartments and Condominiums- Market Size & Forecast 2019-2030F, USD Million
- Villas and Landed Houses- Market Size & Forecast 2019-2030F, USD Million
According to report, In Oman’s urban centers like Muscat, apartments, and condominiums have experienced a substantial increase in demand, a trend largely driven by rapid urbanization and the influx of expatriates.
Explore the Complete Oman Residential Real Estate Market Analysis Report –
https://www.marknteladvisors.com/research-library/oman-residential-real-estate-market.html
Geographical Analysis: Oman Residential Real Estate Market
- By Region
- North
- Central
- South
Oman Residential Real Estate Market Share & Competitive Landscape:
The Oman Residential Real Estate Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry’s leading companies, highlighting their strengths, financial performance, and market influence.
Leading Companies in the Oman Residential Real Estate Market are:
- Al Raid Group
- Al Mouj Muscat
- Al Taher Group
- Wujha Real Estate
- Orascom Development Holding AG
- Maysan Properties SAOC
- Harbor Real Estate
- Savills
- Hilal Properties
- Edara Real Estate LLC
Oman Residential Real Estate Market Recent Development:
- 2023: Al Mouj Muscat, a collaboration between Majid Al Futtaim Properties of the UAE and Oman Tourism Development Company (OMRAN), together with Tanmia Oman (Oman National Investments Development Company), has introduced Jinan Island. This exclusive enclave comprises 43 luxurious villas, each boasting five to six bedrooms and situated amidst a serene lake and expansive parkland.
- 2023: Orascom Development Holding AG,an internationally acclaimed developer, has partnered through its subsidiary, Muriya, with OMRAN, the leading governmental arm for tourism development in Oman, to launch Amazi. This new and highly sought-after waterfront residential resort is situated in Hawana Salalah and was designed by the esteemed SB Architects.
Questions Addressed in this Study
1.What factors are driving the Oman Residential Real Estate Market growth?
2.How is the Oman Residential Real Estate Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Oman Residential Real Estate Market ?
4.What is the current size of the Oman Residential Real Estate Market, and how is it projected to change in the future?
6.What is the future outlook for the Oman Residential Real Estate Market in terms of technological advancements and market expansion?
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