|11 February, 2019

Annual Oman property market report and outlook for 2019: Cavendish Maxwell

Rental and sales indices for Oman's real estate market released

  • Report highlights key industrial data, revealing areas of opportunity and expansion in Oman
  • Key insights into trends in residential, office, retail and hospitality sectors revealed 

Market-leading real estate consultancy and chartered surveying firm, Cavendish Maxwell, has released its Oman Market Report for 2018. This marks the second comprehensive report on the health of Oman’s real estate industry, covering the residential, office, industrial, retail and hospitality sectors within the industry. The unique, in-depth market report was compiled by the firm's in-house strategic consulting and research team, in collaboration with its extensive client and partner portfolio, based on official data from the National Centre for Statistics and Information (NCSI), Ministry of Housing and the Ministry of Tourism in Oman. 

Commenting on the report, Khalil Alzadjali, Head of Cavendish Maxwell in Oman, said:

“Oman’s real estate market showed slow growth in 2018, but there were improvements in certain areas. Real estate transactions increased by 1.2 per cent compared to 2017, although sales contracts decreased by a percentage point. Other significant areas of development have been in the tourism and industrial sectors, with new hotel room inventory and industrial estates expected to be added in 2019.

“Our transparent and accurate reporting is unmatched in this market, and is part of our continued commitment to providing our expertise to help participants in Oman’s real estate industry make informed decisions and drive growth in the sector.”

Looking ahead to 2019, Oman continues to offer significant investment opportunities, thanks to its growing non-oil economy, particularly in the aforementioned tourism and industrial sectors, as well as in Integrated Tourism Complex (ITC) developments. Cavendish Maxwell’s report highlights the positive impacts of new visa regulations for tourists, allowing more international visitors to enter easily and spend longer periods in Oman. It also offers insights into existing and upcoming hospitality infrastructure across the Sultanate.

Key market insights

The 2018 Oman Market Report reveals several key insights into trends in the local real estate market, which will likely continue into 2019.

In the residential sector, prices continued to decrease as demand remained subdued overall. The report indicates that Muscat’s residential market continues to be oversupplied with apartment blocks, despite a gap in the market for high-quality villas and townhouses.

In the office sector, demand for business centres increased in 2018 as a result of firms downsizing and seeking fitted office premises at lower costs. Demand for Grade A stock is expected to remain stable and developers should benefit from current market conditions and lower costs to build.

Despite weaker consumer sentiment and sluggish market conditions, the retail sector witnessed developers adding more space to the existing stock in Oman, particularly in Muscat. In 2018, several new malls entered the retail market, including Landmark Group’s Oasis Malls in Sohar and Salalah. Al Araimi Boulevard, Mall of Oman and Mall of Muscat will all add more retail space as they near completion.

New regulations and incentives from Oman’s Ministry of Tourism have helped boost Oman’s hospitality sector. Cavendish Maxwell also notes that there are currently 72 hotels under construction in Oman, amounting to a total of 6,604 rooms. By the end of 2019, 55 of those developments are expected to be completed, adding 4,763 rooms to the Sultanate’s hotel supply, providing a much-needed boost to the tourism infrastructure.

Oman’s total merchandise exports rose by 30.9% during January to September 2018, compared to the same period in 2017, despite growth in the industrial sector being muted due to reduced global prices and weaker consumer sentiment. Government initiatives like The National Program for Enhancing Economic Diversification (Tanfeedh) and the establishment of new industrial estates offering investors tax exemptions and competitive advantages on imports and custom duties could provide the necessary boost to the sector.

For more detailed information, in-depth analysis and the complete market outlook download your copy of the 2018 Oman Market Report here: 


About Cavendish Maxwell
Cavendish Maxwell is a highly respected independent firm of chartered surveyors and property consultants, focusing on property services throughout the Middle East and Africa. Established in 2008, Cavendish Maxwell is now one of the region’s most in influential property consultancies, employing over 80 people from offices in Muscat, Dubai and Abu Dhabi.
As a fully qualified member firm of the Royal Institution of Chartered Surveyors (RICS), and with extensive knowledge of the region, Cavendish Maxwell has the necessary experience, expertise and insight to deliver property advice of the highest standard. The company’s reports are used for loan security, audit, insurance reinstatement, dispute resolution, risk management, debt recovery and performance analysis.

For media-related queries, please contact 

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases