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.
Oman Residential Real Estate Market Driver:
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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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Oman Residential Real Estate Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2023
-Historical Period: 2019 to 2022
-Forecast Period: 2024 to 2030
- By Type
- Apartments and Condominiums- Market Size & Forecast 2019-2030F, USD Million
- Villas and Landed Houses- Market Size & Forecast 2019-2030F, USD Million
- By Region
- North
- Central
- South
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – 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, and others
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