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Cost: from 119,397 USD

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Solaris Apartments in Jebel Sifah: an excellent choice for an Omani property in 2024

The Sultanate of Oman lies on the Arabian Peninsula next to the UAE, Yemen, and Saudi Arabia. In recent years, Oman has been demonstrating high development rates. The country’s government is taking several steps aimed to attract foreign investment, increase international appeal, and improve the state’s image in the world.

Solaris Apartments in Jebel Sifah

Oman is quite progressive. It is not as urbanized as the neighboring Emirates, therefore preserving the unique spirit of the fabulous Middle East. Visitors and tourists plunge into a special atmosphere. The amazing diversity of landscape and nature is the hallmark of Oman. Mountain peaks, caves and waterfalls, sand dunes and oases of bright greenery, a coastline stretching for more than three thousand kilometers with beaches of soft and clean sand, and a mild tropical climate. All that makes visiting the country an unforgettable experience.

The friendliness and hospitality of the locals create a special feeling of comfort and safety. Unsurprisingly, 42% of the total population of 4.9 million people in the country come from other countries. Muscat, the capital of Oman, ranks 8th among the best cities in the world to live for foreigners. 

Read about another investment opportunity in Oman: Raya Residential Complex in Jebel Sifah – a profitable real estate investment.

The Sultanate is famous for its many tourist attractions and noteworthy cultural and historical sites. The state government invests a lot of effort in developing tourism infrastructure: various kinds of entertainment are available in the country, and venues offer excellent service everywhere. Many tourists, having come here once on vacation, regularly visit the country afterward. In addition, non-residents often subsequently decide to purchase permanent housing there. Every year, Oman is becoming more and more attractive for real estate investors. 

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What potential investors need to know about Oman

About 72% of the country’s income comes from the oil and gas industries. However, the government is actively creating conditions for economic diversification and taking measures to develop the business environment and improve the investment climate. All this has allowed the Sultanate to achieve the following:

  • Create a stable economy and ensure its continuous growth;
  • Become one of the most influential business and trade centers in the region;
  • Develop and implement government projects aimed at improving communications and logistics. Eight large seaports and a developed network of roads provide convenient transportation of all kinds of commercial cargo from all over the world;
  • Pursue a policy of creating comfortable conditions and encouraging business. The country has created four free economic zones and nine industrial zones;
  • Achieve a high standard of living and provide high-quality healthcare services;
  • Develop the tourism sector of the economy to attract visitors and potential investors to the country. According to The Travel and Tourism Competitiveness Report, Oman holds second place in the global tourism rankings;
  • Implement incentive programs for foreign and local investors. Ensure the safety and security of investors and investments.

You might find this interesting: Apartments, townhouses, and luxury villas in Muscat, Oman.

Benefits of investing in Oman real estate 

Purchasing real estate in Oman is regulated by the government. The areas where foreigners can buy housing are restricted to several residential complexes designated by the government. Each of them is located on vast premises, where modern buildings are combined harmoniously with natural landscapes and well-developed infrastructure.

The real estate sector in Oman is thriving, offering attractive investment prospects thanks to the country’s stable economy, forward-thinking policies, and commitment to economic diversification. The Omani government has taken various measures to support the industry, such as transparent legislation, significant investment in infrastructure, and training programs for real estate experts. That creates a favorable environment for both domestic and foreign investments.

Since 2021, the Omani government has been running an Investor Residency Program, which allows foreigners to obtain a residence permit when purchasing real estate. In addition, foreigners who receive resident status get the right to open accounts in local banks, take out health insurance, and put their school-aged children in international schools with high-quality education.

Depending on the investment size, a residence permit in Oman is granted for five or ten years.

To obtain a residence permit for a period of five years, a foreign investor must purchase housing worth at least 250,000 OMR (Omani rials). All purchased objects are totaled up. In this case, the investor receives the following opportunities: 

  • Permanent residence in the country with family (first line of relatives, regardless of their number). The right applies to children under 25 years of age;
  • Registration of guest visas for relatives;
  • Opportunity to hire staff to do housework. 

Obtaining a ten-year residence permit requires an investment in real estate of 500,000 OMR. The investment program provides the following rights:

  • Permanent residence in the country with family (first line of relatives, regardless of their number). The age of family members is not regulated;
  • Registration of guest visas for relatives;
  • Opportunity to hire staff to do housework;
  • Permission to purchase commercial real estate.  

A non-resident owner of real estate has the right to rent it out. There are no taxes on real estate sales or rentals in the Sultanate. The individual income is also not taxed.

Another advantage of investing in real estate in the Sultanate of Oman is that economic stability and a stable exchange rate provide reliable protection for investments.

Best types of investment properties

Undoubtedly, the most promising place to buy a home in Oman is the area near the capital. The resort town of Jebel Sifah is considered one of the most attractive districts. The capital of Oman, Muscat, with all its attractions, entertainment, and shops, is just a 30-minute drive along a good motorway from Jebel Sifah.

Jebel Sifah resort offers residents a well-developed infrastructure with a variety of amenities needed for a balanced lifestyle:

  • residential complexes with different apartments;
  • 5.5 kilometers of coastline with sandy beaches;
  • a boutique hotel with rooms and apartments;
  • a diving and water sports center;
  • local marina with the capacity for 117 yachts;
  • an extensive network of restaurants, cafes, and shops;
  • several medical clinics and pharmacies;
  • stables;
  • a beach camp;
  • tennis courts, and much more.

A great offer from our partners: apartments in the Solaris residential complex 

The properties that we invite you to consider for purchasing are located in the unique Solaris residential area in the Jebel Sifah resort. This low-rise district lies on the sea coast, with gorgeous beaches on one side and the picturesque Al Hajar mountain range on the other. Green spaces take up more than 80% of the total area of the complex, offering cozy and picturesque nooks with a comfortable microclimate for relaxing outdoors. 

apartments in the Solaris residential complex 
apartments in the Solaris residential complex 
apartments in the Solaris residential complex 

General features:

  • apartment prices from 442,211 AED;
  • price per 1 sq. m – 12,626 AED;
  • commissioning: 2027.

The residential complex belongs to Muriya, a developer company that has worked on the market for over 15 years.

Muriya designers have created the perfect combination of natural beauty and modern living in Solaris, combining natural landscapes with the convenience of innovative housing.

Muriya is Oman’s largest construction company, a leading regional developer providing design, architecture, and planning for hotels, residential real estate, entertainment and recreation facilities. The company works in the traditional Arabic style of Oman but can also provide original individual designs and high-quality construction works.

Residents of the complex have permanent access to gorgeous beaches and the azure sea. 

Solaris offers everything you may need for a fulfilling life: 

  • fitness gym;
  • spa with a variety of health and beauty treatments;
  • large communal swimming pool with a solarium;
  • outdoor barbecue area with tents;
  • convenient jogging path leading through some picturesque areas;
  • green golf course, always open to the game lovers. 

The developer can offer investors the following types of completed residential properties:

  • studio apartments with an area from 38 m2 (from 442,211 AED);
  • one-bedroom apartments with an area from 51 m2 (from 624,090 AED);
  • two-bedroom apartments with an area starting from 85.3 m2 (from 906,331 AED).

The properties are suitable for living a relaxed life by the sea or for renting out.

Ground-floor apartments have access to the gardens, while upper-floor apartments are equipped with balconies. The kitchens offer a full range of built-in household appliances. Solaris provides parking spaces for the cars of property owners.

When purchasing real estate, you can use the three-year installment system:

  • Initial down payment – 10% of the cost;
  • The remaining amount paid at 7.5% every three months.

Apartment owners and their relatives automatically receive an indefinite resident visa in Oman and an account with a local bank. The developer transfers 100% of property ownership rights to the investors. Personal income tax, capital gains, and inheritance taxes are 0% in Oman, and the VAT is 5%.

Conclusion

If you are interested in purchasing real estate in the Solaris residential complex, our experts will be happy to provide additional information as part of your personal consultation. You can also email our specialists and request information about other investment properties in the Sultanate of Oman.

We are ready to provide extensive consulting and support services associated with obtaining a residence permit for investments in different countries. Please use the most convenient communication channel to contact us today.

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