Oman is one of the most promising and authentic Middle East destinations in terms of investment in real estate. The sultanate is located in the southeast of the Arab Peninsula and borders the Kingdom of Saudi Arabia, the United Arab Emirates, and the Republic of Yemen. We offer an opportunity to buy a villa or an apartment in the capital of Oman, Masqat, on profitable terms.
Why Buy Real Estate in Oman?
As of the end of 2023, Oman’s real estate market is estimated at 4.01 billion US dollars. In five years, it is expected to rise to 6.23 billion US dollars, and the average annual growth indicator will make up 19%. In 2020, the demand for real estate in Oman decreased due to the pandemic, but it shows stable figures right now.
According to the IMF, Oman is highly likely to end 2023 with a growth rate of 1.7%, which is considered an excellent indicator. As for 2024, experts predict a 5.2% growth.
Oman’s economy is expected to grow by 13.1% over the next 5 years, resulting in an average GDP increase of 2.6%.
The expected stable growth pace in Oman is profitable for those who invest in real estate as it proves that the economy is healthy with a positive outlook, which will inevitably result in higher demand for accommodation and rising prices. The profitability of real estate in Oman on average ranges between 5.6% and 8.3%.
Advantages of investment in Oman’s real estate:
- Stable economic situation. The country has created favorable conditions for business and investment and developed special laws for foreign investors. Oman is known for a stable economic and political environment.
- Advantageous geographical location. Oman is located near the Strait of Hormuz and the Persian Gulf along busy sea routes used to make the lion’s share of the global commercial transportation by sea. The sultanate has easy access to the Persian Gulf, Indian subcontinent, and Africa. This factor makes the country’s government invest extra money in the creation of high-quality infrastructure and also influences the increase in real estate prices.
- Picturesque nature and exotic culture. The country has mountains, pristine nature, deserts, beaches, as well as rich historical and cultural heritage. Investors looking for a unique experience can opt for Oman real estate without hesitating much.
- Favorable living conditions. A comfortable climate and a high level of safety are ideally suited for families with children.
- Well-developed infrastructure. Transport networks, schools, universities, hospitals, and other infrastructure you need for a comfortable life are being actively constructed in Oman. Experts predict that the cost of local real estate will increase every year due to that factor.
- Tax benefits. Depending on particular conditions and the laws adopted in the country, investors can have the right to tax benefits or preferences for real estate owners. The real estate tax in Oman equals 0%.
Oman is actively developing and supporting international relations. You will find the representative offices of some global corporations here, such as Lulu, BP, Shell, Air Liquide, Vale, Jindal Steel & Power, Larsen & Toubro, Rio Tinto Alcan, and Carrefour. The country is also a member of the WTO, Common Market of the Gulf Countries, GAFTA, and free trade agreements with the USA, Singapore, Norway, Switzerland, Iceland, and Liechtenstein. In 2019, Oman took second place in the Global Wellness rating which includes the healthiest and happiest countries.
Real Estate in Masqat
Masqat, the capital of Oman, is located in the southeast of the country. The city borders such regions as Batinah, Al-Sharkiya, Ad Dakhiliyah, the Gulf of Oman, and the Hajar Mountains. Masqat is home to about 1.65 million people and includes six provinces.
Many foreigners come here for permanent residence to take advantage of the warm climate, white sandy beaches, and affordable real estate prices. According to Expat Insider 2022, Oman takes second place in the world by the general level of friendliness to foreign citizens.
Masqat’s convenient location makes it possible for its residents to get to the local Muscat International Airport in a matter of several minutes. The flight to Dubai will take just 1.5 hours. There are a lot of international educational institutions, schools, and grammar schools in the city. One of the popular places of rest in Masqat is the Mall of Oman with 260 shops of international and local brands and more than 60 F&B points.
The real estate pieces we offer to buy are located in a respectable capital district called Masqat Bay. It is situated near Masqat Bay, not far from the Hajar Mountains. We recommend purchasing an apartment or a villa here for those who want to live in the center of the capital and at a distance from the city’s hustle and bustle at the same time. The closed resort settlement has 24/7 security service, and the distance from the city will protect its residents from excessive noise and the everyday greyness of the megalopolis. There are picturesque green areas here that are ideally suited for leisurely strolls.
All the facilities we offer have panoramic windows with a view of the picturesque outskirts, a well-thought-out layout, and an exquisite appearance.
Masqat Bay offers a number of complex services to its residents:
- emergency services
- fitness clubs
- grammar school
- children’s area
- family pools
- restaurants and cafes
- retail shops
- round-the-clock security service and patrolling
You can buy one- or two-bedroom apartments here with an area from 64.14 to 157.35 sq.m., residences with 1–2 bedrooms and their own garden with an area from 187.5 to 224.66 sq.m., and two-storey townhouses with 4–5 bedrooms and an area from 202 to 225.1 sq.m. You can also buy villas with three or four bedrooms and an area from 427 to 606 sq.m.
|Number of bedrooms
|from 64.14 to 157.35 sq.m.
|from AED 1,283,000
|from 187.5 to 224.66 sq.m.
|from 427 to 606 sq.m.
|from AED 4,742,579
Some facilities are ready for use, while others will be commissioned by the end of the next year.
How to Buy Real Estate in Oman?
A number of favorable forecasts for 2024 given by real estate experts makes investments in Oman a promising and profitable option. The country’s government is trying to preserve a beneficial investment climate here so that foreign investors would buy local apartments, villas, and houses more actively.
Oman real estate owners can later rent out their property to tourists or use it as a place to live. An investor has an opportunity to obtain a residence permit for himself and his family and move to a safe country with a high level of life.
If you want to become an owner of real estate in Masqat, please get in touch with our experts using the communication channels provided on the website. You can pay for the real estate in installments:
- the first contribution makes up 5% of the total amount
- in three months, you will need to make a second contribution of 5%
- then you will need to make six more payments 15% each before the facility is commissioned
In addition to the assistance in buying real estate, our experts will also help you obtain a residence permit not only for the investor but also for his/her family members. We will help you set up a company in Oman if you need to, and we provide qualified support at all stages of the transaction.