Overview
The real estate sector in Oman employs ~110,000 (construction and property services) workers with an Omanisation rate of ~28%. Workforce development is a critical enabler of Vision 2040 objectives, requiring targeted interventions in skills training, career pathway development, and nationalisation policies tailored to sector-specific needs.
Key Indicators
| Indicator | Current | 2040 Target |
|---|---|---|
| Direct Employment | ~110,000 (construction and property services) | See 2040 targets |
| Omanisation Rate | ~28% | See 2040 targets |
| Key Employers | Omran Group, Al Mouj, Eagle Hills, Dar A… | Expanding |
Analysis
Workforce composition in Oman’s real estate sector reflects both historical development patterns and emerging skill requirements. The current Omanisation rate of ~28% indicates strong progress toward nationalisation targets. Key employers including Omran Group, Al Mouj, Eagle Hills, Dar Al Arkan, Majid Al Futtaim are implementing structured training programmes. However, skills gaps persist in technical specialisations, middle management, and digital competencies. The sector must balance rapid Omanisation with maintaining operational excellence and international competitiveness.
Challenges
Skills mismatch between education outputs and sector requirements remains the primary workforce challenge. Oversupply in luxury segments, limited affordable housing stock, slow mortgage market development, low Omanisation in construction trades, and regulatory complexity in land use planning. Additionally, retaining Omani talent in the face of competition from government and higher-paying sectors requires innovative compensation and career development frameworks.
Opportunities
Structured apprenticeship programmes, industry-academia partnerships, and TVET alignment with sector needs can accelerate workforce readiness. Affordable housing PPPs, smart city development (Madinat Al Irfan, Sultan Haitham City), ITC expansion attracting foreign buyers, REIT legislation enabling institutional investment, and sustainable building standards driving green construction.
Vision 2040 Targets
Increase GDP share to 12 percent; deliver 300,000 affordable housing units; achieve 40 percent Omanisation in construction; launch a REIT framework; develop three smart cities.