Oman Real Estate Guide
Oman’s real estate sector is undergoing significant transformation driven by Vision 2040 objectives including urban development, tourism infrastructure expansion, and integrated township projects. Reforms to foreign ownership laws and the introduction of usufruct rights have opened the market to international investors.
Key Facts
| Indicator | Value |
|---|---|
| Market Value | ~OMR 8 billion |
| Foreign Ownership Zones | Integrated Tourism Complexes (ITCs) |
| Major Developers | Omran, Al Mouj, Muriya, Dar Al Arkan |
| Usufruct Period | Up to 99 years |
| Rental Yield (Muscat) | 6-8% |
Foreign Ownership
Foreign nationals can own freehold property within designated Integrated Tourism Complexes including Al Mouj Muscat, Muscat Bay, Hawana Salalah, and Jebel Sifah. Outside ITCs, usufruct rights of up to 99 years are available. Property ownership in an ITC grants the right to an Oman residence visa.
Residential Market
Muscat’s residential market ranges from luxury villas and apartments in prime locations to affordable housing developments. The government’s Oman Housing Programme addresses social housing needs for eligible citizens. Secondary cities including Sohar and Salalah offer emerging residential markets at lower price points.
Commercial and Office
The commercial real estate sector concentrates in the Muscat Central Business District, Qurum, and Al Khuwair areas. Grade A office space demand is driven by government entities, energy companies, and financial institutions. The Oman Convention and Exhibition Centre area is emerging as a new commercial hub.
Industrial and Logistics
Industrial real estate demand is growing in Madayn-managed estates and free zones. Warehousing and logistics facilities near ports benefit from proximity to international shipping routes. Purpose-built industrial units are available for lease with supporting infrastructure.
Market Regulation
The National Centre for Statistics and Information maintains a property transaction database. The Real Estate Regulatory Authority oversees developer licensing, off-plan sales regulations, and escrow account requirements to protect buyers. The Property Law and associated regulations provide the legal framework.