Oman sought-after choice for real estate investment

Oman sought-after choice for real estate investment

Demand for real estate in the Sultanate of Oman has been on the rise post pandemic after the country positioned itself as the first choice for people to buy or own a house, which is partly driven by notable increase in the expatriate population over the last 18 months and strategic investment in the economy, according to Oman Property Report 2023 by Savills.Fetching the results of all-round efforts of the government and the private players, the real estate market in Oman is expected to touch $324.60 billion in 2024.Underlining the reports, residential real estate dominates the market with a projected market volume of $239.20 billion in the same year out of all different segments.Looking at the issues worldwide, there are more and more people who want to settle down in a country like Oman as is witnessed in the recent past. This is manifested by the surge in demand for real estate in Dhofar Governorate, especially in the Wilayat of Salalah, where more Europeans are opting to settle down, thanks to the tax-free life as well as clean and beautiful environment.Speaking to the Observer on the sidelines of the launch of Raya, Wael al Lawati, CEO of Muriya, a