Oman Commercial Real Estate Market Introduction and Overview
According to SPER Market Research, the Oman Commercial Real Estate Market is estimated to reach USD 3.47 billion by 2033 with a CAGR 5.64%.
The report includes an in-depth analysis of the Oman Commercial Real Estate Market, including market size and trends, product mix, distribution channels, and supplier analysis. The purchasing, selling, and leasing of real estate for commercial use, including office buildings, shopping malls, industrial warehouses, and multifamily housing units, is known as the commercial real estate (CRE) market. The demand for space, interest rates, changes in consumer behavior, and the state of the economy are some of the variables that affect it. Office and retail space are usually in high demand during boom periods, while vacancies increase and rental rates may decrease during downturns.
- The Grand Blue City Development Company, supported by the sovereign wealth fund Oman Investment Authority (OIA), resumed the long-delayed Blue City project in Oman in November 2023. The Arabic acronym BAT is another name for the project.
- The Oman Tourism Development Company (Omran) declared in July 2023 that it would hire a multidisciplinary consultant to carry out a concept masterplan for the entire site and to produce a comprehensive masterplan and comprehensive architectural design guidelines for the mixed-use town of Madinat Al Irvine East.
Market Opportunities and Challenges
Opportunities: The potential expansion of the travel and hospitality sectors as a result of loosened regulations and vaccination campaigns, the creation of conventional office space devoted to start-ups and new businesses, and the arrival of new co-working spaces in Oman are all contributing factors to the country's notable growth in the commercial real estate market. Oman has made significant investments in the hotel industry recently, emphasizing luxury resorts as well as eco-friendly and cultural travel. Saudi Arabia and the United Arab Emirates, two nearby nations with significant hospitality industries, have competed with the nation. But now that it has so many benefits, including stunning natural scenery and a strong commitment to sustainable tourism, the Sultanate is trying to make a name for itself as a destination.
Challenges: One major factor impeding the expansion of the commercial real estate sector is the growing emphasis on remote work and online purchasing. The demand for traditional retail areas has decreased as a result of technological advancements and shifts in consumer behavior, such as the increase in internet shopping. Foot traffic in traditional brick-and-mortar retail businesses has decreased as more people purchase online. The need for office space has also been impacted by the tendencies toward remote work. Businesses are rethinking their operational paradigms as a result of the growing emphasis on remote work, flexible office design
Market Competitive Landscape
The existence of numerous companies in the Omani commercial real estate market has resulted in its fragmentation. OMRAN Group, Al Taher Group, BBH GROUP, Malik Developments, and Shanfari Group are a few of the market's leading companies. Significant investments supported by non-oil economic growth are being made in the nation, particularly in the industrial sector. Over the course of the projection period, this is anticipated to create growth opportunities for new players to enter the market.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type |
| Regions covered | Eastern region, Western region, Southern region, Northern region. |
| Companies Covered | Al Osool Group, Al Tamman Real Estate, Alfardan Group, Al-Taher Group, BBH Group, Diamonds Real Estate, Hamptons International & Partners LLC, Malik Developments, Omran Group, Shanfari Group, Others. |
COVID-19 Impact on Oman Commercial Real Estate Market
The COVID-19 epidemic significantly affected the commercial real estate market in Oman, causing demand and investment activities to decline. Lockdowns, travel restrictions, and a shift to remote work all helped to reduce demand for retail buildings and office space, particularly in cities like Muscat. The need for large office spaces has further decreased as a result of numerous companies that were under financial strain cutting staff or switching to flexible work arrangements. The growth of e-commerce and the requirement for supply chain efficiency, however, increased demand for warehouses and distribution centers, which contributed to some resilience in the industrial and logistics sectors.
Key Target Audience:
- Institutional Investors
- Real Estate Developers
- Property Managers
- Corporate Tenants
- Retailers
- Government Agencies
- Financial Institutions
- Real Estate Brokers and Agents
Our in-depth analysis of the Oman Commercial Real Estate Market includes the following segments:
| By Type: | OfficesRetailIndustrialLogisticsMulti-familyHospitality |
Key Topics Covered in the Report:
- Oman Commercial Real Estate Market Size (FY’2024-FY’2033)
- Overview of Oman Commercial Real Estate Market
- Segmentation of Oman Commercial Real Estate Market By Type (Offices, Retail, Industrial, Logistics, Multi-family, Hospitality)
- Expansion Analysis of Oman Commercial Real Estate Market
- Problems and Obstacles in Oman Commercial Real Estate Market
- Competitive Landscape in the Oman Commercial Real Estate Market
- Impact of COVID-19 and Demonetization on Oman Commercial Real Estate Market
- Details on Current Investment in Oman Commercial Real Estate Market
- Competitive Analysis of Oman Commercial Real Estate Market
- Prominent Players in the Oman Commercial Real Estate Market
- SWOT Analysis of Oman Commercial Real Estate Market
- Oman Commercial Real Estate Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPERs internal database
2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Oman Commercial Real Estate Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Oman Commercial Real Estate Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Oman Commercial Real Estate Market
7. Oman Commercial Real Estate Market, By Type (USD Million) 2020-2033
7.1. Oman Commercial Real Estate Market Size, Share and Forecast, By Type, 2020-2026
7.2. Oman Commercial Real Estate Market Size, Share and Forecast, By Type, 2027-2033
7.3. Offices
7.4. Retail
7.5. Industrial
7.6. Logistics
7.7. Multi-family
7.8. Hospitality
8. Oman Commercial Real Estate Market Forecast, 2020-2033 (USD Million)
8.1. Oman Commercial Real Estate Market Size and Market Share
9. Oman Commercial Real Estate Market, By Region, 2020-2033 (USD Million)
9.1. Oman Commercial Real Estate Market Size and Market Share By Region (2020-2026)
9.2. Oman Commercial Real Estate Market Size and Market Share By Region (2027-2033)
9.3. Eastern Region
9.4. Western Region
9.5. Southern Region
9.6. Northern Region
10. Company Profile
10.1. Al Osool Group
10.1.1. Company details
10.1.2. Financial outlook
10.1.3. Product summary
10.1.4. Recent developments
10.2. Al Tamman Real Estate
10.2.1. Company details
10.2.2. Financial outlook
10.2.3. Product summary
10.2.4. Recent developments
10.3. Alfardan Group
10.3.1. Company details
10.3.2. Financial outlook
10.3.3. Product summary
10.3.4. Recent developments
10.4. Al-Taher Group
10.4.1. Company details
10.4.2. Financial outlook
10.4.3. Product summary
10.4.4. Recent developments
10.5. BBH Group
10.5.1. Company details
10.5.2. Financial outlook
10.5.3. Product summary
10.5.4. Recent developments
10.6. Diamonds Real Estate
10.6.1. Company details
10.6.2. Financial outlook
10.6.3. Product summary
10.6.4. Recent developments
10.7. Hamptons International & Partners LLC
10.7.1. Company details
10.7.2. Financial outlook
10.7.3. Product summary
10.7.4. Recent developments
10.8. Malik Developments
10.8.1. Company details
10.8.2. Financial outlook
10.8.3. Product summary
10.8.4. Recent developments
10.9. Omran Group
10.9.1. Company details
10.9.2. Financial outlook
10.9.3. Product summary
10.9.4. Recent developments
10.10. Shanfari Group
10.10.1. Company details
10.10.2. Financial outlook
10.10.3. Product summary
10.10.4. Recent developments
10.11. Others
11. Conclusion
12. Reference Links
13. List of Abbreviations
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
