BUSINESS REPORTER
MUSCAT, OCT 8
Colliers, a leading diversified professional services and investment management company focusing on healthcare, issued its latest white paper on Muscat’s real estate market “Repositioning the Real Estate Sector in Muscat”.
The paper highlights that over the last few years, Muscat has witnessed rapid development across its real estate market. With a number of new launches and developments recently breaking ground, the real estate landscape in Muscat is transitioning towards a more urban setting. Developers and investors are looking for new avenues and concepts to adopt to successful on ground realities. In the case of residential developments, more emphasis is placed on social infrastructure, which not only increases the absorption / occupancy rates but also translates positively on sale prices and rental performance.
Mansoor Ahmed, Executive Director Advisory Services at Colliers, MEA Region, highlighted: “Based on Colliers’ experience, developers / investors should transform their developments to destinations and ensure proper provision of social infrastructure is integral to meet the needs of a population base that has grown more inspired and demanding and to remain competitive to make their developments attractive, sustainable and financially viable.”
He added that the UAE’s President’s recent visit to Oman resulted in the signing of number of Memoranda of Cooperation (MoC), including cooperation in culture and media, railways, education, scientific research, agricultural wealth and financial markets. The link between Abu Dhabi and Oman though the rail network for both freight and passengers, will further boost the Oman and Muscat real estate sector, Ahmed noted.
Colliers’ Development Solutions team is actively assisting several local, regional and international investors and developers in Oman to facilitate the development of greenfield / brownfield projects and the redevelopment / regeneration of old towns, cultural and heritage sites in Oman’s real estate sector. Key sectors of the Colliers team that are working in Oman include residential, retail, F&B, commercial, leisure & entertainment, industrial & logistics, sports, healthcare, education and infrastructure. Colliers is also focused on Public Private Partnership (PPP) which is an emerging trend in the region and Oman.
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