Real estate consultancy firm to issue market report in Q1

Business Reporter –
Muscat, JAN 29 –
Leading real estate consultancy and chartered surveying firm Cavendish Maxwell plans to release a report on Oman’s property market, indicating certain real estate offerings showing increased demand, in the first quarter of this year.
Khalil al Zadjali, Head of Cavendish Maxwell in Oman, said Oman offers significant investment opportunities, thanks to its growing non-oil economy, particularly tourism, and well-established property laws and financial regulations. Coupled with increased infrastructure spending and an upwardly mobile local population, Oman’s real estate market has seen steady, stable growth over the past decade, despite the occasional fluctuations and corrections, he noted.
“With the real estate market in Oman recovering positively, we expect to see new opportunities arise for the sector’s stakeholders in the short, medium and long term,” said Al Zadjali.
According to the upcoming report, Oman’s real estate market poses a few potential shortcomings, particularly in residential properties. Oversupply of apartments, an overall fall in residential property investment and a lack of quality villas to meet demand are proving to be challenging circumstances.
Cavendish Maxwell recently completed one year of successful operations in the Sultanate, further solidifying its position as a key partner in the region’s property market. This follows more than a decade of experience throughout the Middle East and Africa, resulting in significant demand from Oman-based clients for the firm’s reputed valuation and advisory services.