MUSCAT, OMAN
Muscat, particularly the southern coast, is one of Oman’s most desirable real estate markets, attracting both local and international buyers. The area is especially popular among retirees and second-home buyers from the GCC, Europe, and Asia. Property prices in Muscat have seen consistent growth, especially in luxury markets.
Strategic Location
Oman, on the southeastern coast of the Arabian Peninsula, is a key gateway between Asia, Africa, and the Middle East. Its capital, Muscat, just 75 minutes from Dubai, is vital for regional trade, with Oman’s strategic shipping routes supporting economic growth and international collaboration.
GDP Growth
As of 2023, Oman’s GDP was approximately $90 billion, with a growth rate of around 3.5%. The diversification strategy, Vision 2040, aims to reduce oil dependency and increase the contribution of non-oil sectors to the GDP.
Investment Climate
The government has been actively encouraging foreign investment through various incentives and relaxed regulations. The establishment of free zones and special economic zones, such as Duqm, provides attractive opportunities for investors.
THE NATURAL BEAUTY OF OMAN
Oman is a land of remarkable natural beauty and diverse landscapes, making it a unique and captivating destination. From the rugged peaks of the Al Hajar Mountains to the golden sands of the Wahiba Desert and the pristine beaches along its coastline, Oman offers a stunning array of natural wonders. The country is also home to lush green oases, ancient forts, and picturesque wadis (valleys) that provide breathtaking views and opportunities for adventure. The turquoise waters of the Arabian Sea and the rich marine life make it a paradise for divers and beach lovers Oman Ministry of Tourism.
Al Hajar Mountains
The rugged peaks of the Al Hajar Mountains offer stunning views and opportunities for adventure.
Wahiba Desert
The golden sands of the Wahiba Desert stretch as far as the eye can see, creating a mesmerizing landscape
Coastal Beauty
Oman’s pristine beaches along its coastline offer a paradise for beach lovers and divers alike.
A YOUNG AND DYNAMIC POPULATION
Population
Oman’s population was approximately 4.5 million in 2023, reflecting steady growth.
Youthful Demographics
Oman has a youthful population, with a median age of around 26 years, and over 50% of the population is under the age of 30.
Education
Oman boasts a high literacy rate of over 95%, thanks to significant investments in education over recent decades.
Urbanization
Over 84% of Oman’s population lives in urban areas, with Muscat being the largest city and capital.
A BURGEONING ECONOMY
Economic Indicators
Oman’s 2022 GDP reached $82 billion, with the non-oil sector contributing 63%. Foreign Direct Investment totaled $4 billion, and inflation remained low at 2.8%.
Economic Vision 2040
Oman’s Vision 2040 aims to increase the non-oil sector’s contribution to GDP to 91% by 2040, with a focus on sectors like logistics, tourism, mining, and fisheries.
International Trade
Oman’s total trade volume in 2022 was $61 billion, with key exports including oil, natural gas, and petrochemicals. Major trading partners were China, the UAE, and India.
THE REAL ESTATE SECTOR IN OMAN
01
100% Foreign Ownership
Expatriates can purchase real estate in designated Integrated Tourism Complexes (ITCs).
02
Infrastructure Development
Ongoing infrastructure projects, such as new roads, airports, and public facilities, are enhancing the attractiveness of real estate investments across the country.
03
Market Performance
In 2022, Oman’s real estate market witnessed over $6 billion USD in transactions, reflecting strong investor interest despite global economic challenges.
04
Rental Yields and Sustainability
Prime areas in Muscat offer rental yields of around 6-8%. There is a growing emphasis on sustainable real estate development, with new projects incorporating green building practices and energy-efficient designs.
ZOOMING IN ON MUSCAT
Economic Center
Muscat is the economic and administrative center of Oman, hosting the headquarters of major businesses, government institutions, and financial services.
Strategic Location
Just 75 minutes away from Dubai, Muscat offers a unique blend of accessibility and exclusivity.
Real Estate Growth
The real estate sector has seen a steady increase in transactions, with over 60,000 deals recorded in 2023. The introduction of new regulations allowing 100% foreign ownership in certain areas has boosted investor confidence.
THE BENEFITS OF INVESTING IN MUSCAT, OMAN
Oman offers an attractive tax regime with no personal income tax, enhancing the return on investment. The country is known for its stable political environment and investor-friendly policies.
Tax Benefits
0% Personal income tax and 0% Import or export duties
Foreign Ownership
100% Foreign Ownership allowed in designated Integrated Tourism Complexes (ITCs).
Banking
Hassle-Free Bank Account Setup for investors
Residency
Lifetime Residency for real estate investments starting at OMR 250,000 (approximately USD 650,000)
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