Oman real estate growth keeps gaining speed as the country rolls out plans for homes and hotels. The government now aims to deliver 62,800 new homes by 2030. Meanwhile, officials expect to complete 5,500 units by the end of this year.
In addition, developers will build 35 new hotels and resorts. These new projects will add 5,800 hotel rooms to the current supply. This move should increase hotel capacity by 25% and support tourism growth.
According to Cavendish Maxwell’s latest report, Oman real estate growth aligns with the goals of Vision 2040. That plan targets long-term growth in non-oil sectors like housing, tourism, and infrastructure.
Last year, Oman real estate growth developers completed 38,400 new residential units, raising the housing supply by 3.6%. Currently, Oman has about 1.1 million homes across the country. Most homes are in Muscat, but Al Batinah and Dhofar also hold large shares.
However, the population keeps rising fast. Officials expect it to reach 7.7 million by 2040. As a result, Oman must build over 340,000 new homes to maintain a 90% occupancy rate.
Clearly, Oman real estate growth must remain steady to avoid future housing shortages. Planners must act early and smartly. Otherwise, the market may struggle to meet the growing demand.
Khalil Al Zadjali from Cavendish Maxwell explained how the non-oil economy is gaining strength. He said real estate, tourism, and infrastructure all show strong signs of long-term potential.
He also noted how smart policies can attract both local and global investors. This approach will support the real estate market and strengthen the wider economy.
Moreover, Oman real estate growth tourism industry continues to grow steadily. Tourist numbers are climbing due to better infrastructure and investor support. New hotel openings will help meet demand and create jobs.
Government plans encourage investment and help developers meet housing needs. This support can also improve market stability and drive more sustainable growth.
To conclude, Oman real estate growth plays a key role in national progress. With careful planning and strong investor interest, the country can meet future goals. More homes and better tourism services will boost the economy further.
