According to Maxwell’s Cavendish Oman Real Estate Market The performance report, Sultanate is set to add 5,800 hotel rooms in its current inventory in the next five years, with 35 new hotels and resorts scheduled to be scheduled in 2030.
New rooms will raise the current inventory of about 25 percent.
The residential real estate epentory inventory grows 3.6 percent of 2024, with 38,400 new houses provided in 1.1m units, today units, shown in the report.
Most of the residential supply is in Muscat, followed by Al Batinah North and South, and Dhofar.
The expansion of real estate, infrastructure, hospitality and tourism sectors part of Oman Vision 2040, referring to non-oil sectors to recount 90 percent of the economy of 2040.
After that, Oman’s population, now 5.3m, is expected to arrive at 7.7m, driven by increasing countries of Omani and expatriates.
More than 80,000 new homes are expected to be given between now and 2040.
However Oman’s rapid growth in Oman can mean a resident resident’s resident, despite thousands of new assets in the 340,000 new houses, with 340 percentage of occupation.
Khalil Al Zadjali, Head to Oman at Cavendish MaxwellSays: “Oman has been suffered by a meaningful economic change, with a strong momentum of non-oil sectors and a growing drive to drive real estate and infrastructure.
“Vision 2040 is not just a plan – it is a commitment to a sustainable, powered by knowledge, the country that continues to develop 2040 agendas to increase real estate importance.
“Government-headed initiatives to attract foreign and local investments can be an important role to ensure market priorities in the country’s long-term progress market.
“However, the possibility of outpac to supply demand, active planning may be necessary to avoid a potential disability.
“The tourism sector is also maintained for continuous, strong growth, with international guests, the hotel’s growing sectures, the hotel initiatives have been set up, the hotel initiatives are set up, the hotel’s initiatives are set up.
Oman’s residential sector occupancy rates remain strong, averaging 85.2 percent of all units.
Villas and Arabic Houses will continue a little more powerful 87.5 percent, compared to apartments at 80.8 percent. The apartment occupancy level increased 3 percent of 2024, compared to last year.
Integrated Tourism Complexes (ITCS) are set to play a pivotal role in shaping Oman’s future, as, unlike anywhere else in the country, they allow non-omani nationals to own more affordable prices than other key parts of the GCC, with similar rental yields.
In accordance with Vision 2040, ITCs refers to economic strengthening and lifting the real estate sector. Many ITCs have been developed in key locations such as Muscat, Dhofar, South Al Batinah, South Al Sharqiyah and Museum.
Ittic apartment sales prices are typically from OR800 to 1,100 ($ 2,080-2,860) per key areas of GCC.
In Dubai prices from from OR1,600 to 2,100 ($ 4,160-5,450) per sq meter; OR1,400 to 1,850 ($ 3,640-4,800) in Abu Dhabi and OR1,000 to 1,300 ($ 2,380) in Doha.
Hiring ITCs in Oman, by 5 percent to 8 percent, close to Dubaiians, Abu Dhabi and Doha.
Meanwhile, villa prices come from OR750 to 1,000 ($ 1,950 – 2,850) at 1,850 ($ 3,550) in Abu Dhabi.
Branded residence is to make their score in Oman, preparing investors and users who seek premium living in long term properties. Sales prices vary depending on brand and location.
The current options include La Vie by Tivoli hotels and resides, from which prices from OR1,300 to 1,500 ($ 3,900) per sq m; St. Regis through Marriott, OR2,100 to 2,400 ($ 5,450 – 6,250); and Mandarin Oriental-Branded Residence of 2,400 to 2,600 ($ 6,250 – 6,750).
Tourism is in the development of Oman, showing the growing need and trust from international guests and domestic travelers.
Four Oman airports handle 14.5m passengers in 2024, a year of increase of 2.5 percent.
Muscat and Salalah were in charge of 12.9m and 1.5m passengers in fact, promoting the role of Muscat as the main air trip to the country, and Salalah’s strength.
Hotel guests and we exceeded pre-pandemic levels in 2024, with 2.15m visitors who remained in Oman Hotels in 2024, a percentage of jumping at 2023.
Hotel Revenue income increased 6.1 percent of OR243 ($ 631). In guest numbers continuing to increase, Cavendish Maxwell predicts positive but strong sight for the country’s tourism sector.
Oman is currently home to 270 hotels and resorts, with 24,000 rooms between them. More than half are in upscale, upper-upscale and luxury parts.
Another 5,800 rooms in 35 hotels and resorts are scheduled to come online at 2030, with 54 percent of the upper parts of the upper and luxury value.
The hotel’s occupation increased an average of 2.4 percent of 2024, with upper midcale parts and midscale seeing the larger jump: 11.1 percent of each.
Average daily rate has reached OR53.4 ($ 139), with high midcale sectors and midcale reporting the addition of 3.8 percent of each.
