According to Markntel Advisors Report, Oman Residential Real Estate Market is expected to grow at a significant growth rate, and the analysis period is 2024-2030, considering the base year as 2023. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
Residential real estate encompasses properties designed primarily for housing individuals, families, or groups. This sector includes a range of housing types, such as single-family homes, apartments, condominiums, and townhouses. These properties are distinct from commercial or industrial real estate, serving as the primary living spaces for residents rather than for business or manufacturing purposes.
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Oman Residential Real Estate Market Research Report & Summary:
The Oman Residential Real Estate Market size is estimated to grow at a CAGR of around 9.8% during the forecast period, i.e., 2024-30.                 Â
Time Period Captured in the Report:
·       Historical Years: 2019-2022
·       Base Years: 2023
·       Forecast Years: 2024-2030
Who are the Key Players Operating in the Oman Residential Real Estate Market?
The top companies of the Oman Residential Real Estate Market ruling the industry are:Â
Al Raid Group, Al Mouj Muscat, Al Taher Group, Wujha Real Estate, Orascom Development Holding AG, Maysan Properties SAOC, Harbor Real Estate, Savills, Hilal Properties, Edara Real Estate LLC, and others
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What is included in Oman Residential Real Estate Market Segmentation?
The Oman Residential Real Estate Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Type
- Apartments and Condominiums- Market Size & Forecast 2019-2030F, USD Million
- Villas and Landed Houses- Market Size & Forecast 2019-2030F, USD Million
- By Region
- North
- Central
- South
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Oman Residential Real Estate Market Driver:
Strategic Developments Enhancing Urban Living Propel the Oman Residential Real Estate Market – There has been a noticeable surge in the number of expatriates in Muscat, which has significantly increased the demand for rental accommodations. This shift has particularly highlighted the desirability of well-managed residential communities, known for their quality properties, professional management, and comprehensive amenities including retail, food & beverage outlets, and leisure facilities, making them top choices in the city. Further, in tandem with this growing demand, Oman has initiated several large-scale integrated housing projects. These developments are designed to offer mixed-use residential areas that comprehensively cater to the needs of their residents. For instance,
- In 2024, the Oman government announced its plans for a USD 2.4 billion Omani Mountain Destination project in Jabal al Akhdar. The project is in alignment with Oman Vision 2040, which would include residences, hotels, and a health village.
Hence, these efforts would allow the country to reduce the supply-demand gap in the residential real estate sector, specifically in urban areas. These efforts also showcase Oman’s proactive approach to urban development, ensuring high-quality living spaces within vibrant, fully integrated communities, catering to both local citizens and the growing expatriate community. Thus, the upcoming projects would further augment the size & volume of the Oman Residential Real Estate Market during the forecast period.
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