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Oman’s real estate market maintained its upward trajectory in 2024, with transaction values soaring 28.1 per cent year on year to 3.13 billion Omani rials ($8.13bn) by November, official figures showed.
According to data from the National Centre for Statistics and Information, sale contracts in the sector rose 3.1pc annually to 1.1bn rials during the period, while the number of deals edged up 1.9pc to 61,552, the Oman News Agency reported.
The robust performance underscores broader optimism in Oman’s property market, with market intelligence firm Mordor Intelligence forecasting the residential real estate sector to grow at a compound annual rate of 9.19pc, increasing from $4.38bn in 2024 to $6.80bn by 2029.
The Omani government has introduced several initiatives to boost the growth of its real estate sector, including relaxing property ownership laws for foreigners and offering tax incentives to real estate developers.
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