Watch: Analysis on real estate sector in Oman

March 18 – The total real estate activity in the Sultanate by the end of 2017 reached RO 2,609.4 million, comprising a decrease of 60.6 per cent over the end of 2016, according to preliminary data released by the National Centre for Statistics and Information (NCSI).
The 2018 will be crucial for a diversified Omani economy as the government stresses on implementing the initiatives of Tanfeedh, pertaining to the improvement of investment climate, enhancement of the private sector’s role and boosting investment rates in GDP.
The announcement on the Real Estate Investment Trust funds (REITs) is expected to help this vital sector with a mega boost, feel sources in the real estate. With its proven ability to generate jobs, any incentives to pep up the real estate and construction sectors are the need of the hour, say the sources in the industry. An exclusive analysis with Mohamed bin Abdulla al Khonji, chairman and CEO of Al Khonji Real Estate & Development on what holds for the sector in the coming months.