Oman Residential Real Estate Market Set for Robust Growth: Projected CAGR of 9.8% Through 2030

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. The Oman Residential Real Estate Market has been experiencing significant growth, specifically driven by the rising expat populations across the country. Despite the challenges posed by economic shifts and nationalization efforts in white-collar jobs, the market has been showing promising signs of adjustment and opportunity, particularly in affordable housing sectors and premium residential areas.

The residential sector in Oman is witnessing a transformative shift fueled by growing expatriate inflow, young population dynamics, urbanization, and economic diversification efforts under Vision 2040. Aided by flexible ownership laws and competitive pricing, the real estate market is becoming increasingly accessible to both local and foreign investors. In particular, affordable housing and high-end villa communities in Muscat, Salalah, and Sohar are seeing robust demand.

Market Analysis: Trends & Developments Shaping Oman’s Residential Real Estate Market

• Vision 2040 Driving Urban Planning: Oman’s Vision 2040 is focused on sustainable urban development, which is boosting the construction of integrated residential communities across major cities.
• FDI in Real Estate: Government initiatives to allow foreign property ownership in Integrated Tourism Complexes (ITCs) and high-end zones are spurring demand among expatriates and Gulf investors.
• Youth-Centric Demand: With over 50% of the population under the age of 30, there’s a strong preference for smart, affordable, and well-located housing solutions.
• Rise of Gated Communities: Growing interest in security, convenience, and lifestyle amenities is driving demand for gated communities and mixed-use residential projects.
• Economic Diversification: As Oman diversifies beyond oil, sectors such as tourism and manufacturing are indirectly boosting housing demand in key industrial and port cities.
• Sustainable Living Trends: Developers are increasingly integrating green building practices and energy-efficient infrastructure in line with global sustainability goals.

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Key Takeaways from the Market Research Report

• Flexible Ownership Regulations: Recent policy changes allowing foreign nationals to own property in select zones are increasing the investor pool.
• Affordable Housing Push: Government-backed projects focusing on middle-income housing are supporting market growth across urban and semi-urban regions.
• Increasing Urbanization: Expansion of urban centers such as Muscat, Sohar, and Nizwa is creating a surge in demand for organized residential housing.
• Tourism-Linked Residential Projects: Integration of residential components in tourism infrastructure is a growing trend, especially in coastal and heritage cities.
• Tech-Enabled Construction: Real estate developers are leveraging technologies like BIM (Building Information Modeling) to deliver cost-efficient and timely residential projects.

Top Players Transforming the Oman Residential Real Estate Market

The Oman residential real estate space is witnessing steady innovation and competitiveness, led by key developers such as:

• 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

These players are capitalizing on emerging trends by introducing integrated, community-focused residential environments with sustainable features and modern amenities.

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By Type

• Apartments and Condominiums
• Villas and Landed Houses

Exploring a Key Market Opportunity: Rise of Build-to-Rent (BTR)

A notable emerging trend in Oman is the growing popularity of Build-to-Rent (BTR) developments. These projects are designed specifically for rental purposes, appealing particularly to expatriates, younger professionals, and transient residents. With flexible lease models and premium communal facilities, BTR projects offer hassle-free living and reduce the financial burden of home ownership. This model also enables developers to generate long-term, stable returns – making it a win-win opportunity for both tenants and investors.

Leading Segment: Apartments Dominate Urban Centers

Apartments continue to dominate the Oman residential real estate market, especially in densely populated cities like Muscat and Sohar. These units offer affordability, efficient use of space, and proximity to business hubs, making them ideal for working professionals and small families. Furthermore, the development of mid- to high-rise apartment complexes with integrated retail and leisure services is reshaping Oman’s urban skyline. This segment is expected to witness sustained demand due to its accessibility, lower maintenance costs, and evolving lifestyle preferences.

Regional Insights: Muscat Leads with Infrastructure & Investment

Muscat, the capital city, remains the epicenter of residential real estate growth in Oman. Its well-developed infrastructure, proximity to the coastline, international schools, and hospitals make it a top choice for both Omani nationals and expatriates. Large-scale projects like Al Mouj Muscat and Muscat Bay have elevated the city’s residential offering by blending luxury with lifestyle convenience. Muscat’s position as a financial, cultural, and governmental hub reinforces its leading role in shaping real estate demand and investment.

Future Outlook

With the growing trends, the industry is projected to grow and expand during the forecasting years i.e., 2025–30, as the above-stated factors are changing the market landscape and opening doors to the market players. Market players can enhance their market size & revenue by meeting the changing market dynamics and evolving consumer expectations. Additionally, market players with the help of SWOT analysis can adjust their existing settings regarding the evolving market trends, which would ultimately augment the size & volume of the entire industry at the global level.

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