DescriptionWMI's Oman Construction Market Data & Forecast to 2013 report is the essential source for Construction industry data and analysis covering Oman, both at the top level and providing in-depth category and channel insight. The report provides historical data and forecasts for the Oman Construction industry in the period 2004-2013, detailed profiles and financial metrics covering the major market players, a breakdown of key recent M&A and partnership activity, and comprehensive analysis of the key factors driving the industry at consumer, market and company level.Executive SummaryThe Oman construction industry grew at a CAGR of 9.69% for the period 2003-2008. Residential construction accounts for 52.3% of the Oman construction industry's value, while non-residential construction accounts for the balance 47.7%. Oman accounts for 2% of the total construction market in GCC region. The total investment in real estate sector of the country during the year 2007 was RO 1.61 billion in 2007 as compared to RO 0.29 million in the year 2005. There has been expansion in the construction sector of Oman at a rapid pace over the past few years as several large-scale development and diversification projects have been planned involving huge spending by the government. The sector in the year 2007 grew by 21.7% in 2008 as compared to the year 2007. This has resulted in keeping the contractors and builders busy along with continuing expansion in the infrastructure of industry, transportation and other sectors. Role is also played by the private sector by building the necessary hotels and leisure facilities so that construction sector grows at the same pace with the tourism sector. The sustained decline of the oil prices is likely to have a negative impact on the spending by the public sector, leading to reduced activities in the construction sector. The increasing surplus available from the oil sector due to rising oil prices and the liquidity resulting from it have been beneficial for the real estate sector, considered nowadays as the investment giving maximum returns in the Sultanate. Oman has now shifted its focus from oil and natural gas and education sectors to the manufacturing and tourism sectors for diversifying its economy. Oman's construction sector still offers competitive prices as compared to other countries in the GCC region, even after the shoot up in the prices of the real estate. Like most of its Gulf neighbors, the construction market of Oman registered impressive growth over 2007 and 2008 across all the segments, as the values of property showed growth of 200%. But, correction was experienced in the market after the global financial fallout resulting from sub-prime crash of the US. There are many factors leading to the growth of construction industry in Oman at the current rapid pace it is growing. These include significant investment by the government in infrastructure, low interest rates, high liquidity, population explosion, expansion in the economy and rising wages besides liberalization leading to the availability of more land. Besides this, banks have also been allowed to provide 45% of their loan portfolios for lending to the residential sector by the Central Bank. Another favorable factor includes the change made in the laws dealing with the ownership of property by foreigners. As per the new law, freehold designated property in the designated tourism resorts can be purchased by non Omanis for residential or investment purpose. The drop in the prices of commodities used in construction has lured developers to step up their presence in affordable housing sector. Private sector firms like Alargan Towell Investment Company are now taking steps to gain from low-cost construction and through strong fundamentals of demand present in Oman.KeywordsOman Construction MarketCompanies MentionedLarsen & Toubro Oman LLCBahwan Contracting Company LLCSuhail Bahwan Group Holding LLCGalfar Engineering & Contracting SAOGAl-Hassan G

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Oman Construction Market Data & Forecast to 2013
Published on September 2009
Report Summary
Description
WMI's Oman Construction Market Data & Forecast to 2013 report is the essential source for Construction industry data and analysis
covering Oman, both at the top level and providing in-depth category and channel insight.
The report provides historical data and forecasts for the Oman Construction industry in the period 2004-2013, detailed profiles and
financial metrics covering the major market players, a breakdown of key recent M&A and partnership activity, and comprehensive
analysis of the key factors driving the industry at consumer, market and company level.
Executive Summary
The Oman construction industry grew at a CAGR of 9.69% for the period 2003-2008. Residential construction accounts for 52.3% of
the Oman construction industry's value, while non-residential construction accounts for the balance 47.7%. Oman accounts for 2% of
the total construction market in GCC region. The total investment in real estate sector of the country during the year 2007 was RO
1.61 billion in 2007 as compared to RO 0.29 million in the year 2005. There has been expansion in the construction sector of Oman at
a rapid pace over the past few years as several large-scale development and diversification projects have been planned involving
huge spending by the government. The sector in the year 2007 grew by 21.7% in 2008 as compared to the year 2007. This has
resulted in keeping the contractors and builders busy along with continuing expansion in the infrastructure of industry, transportation
and other sectors. Role is also played by the private sector by building the necessary hotels and leisure facilities so that construction
sector grows at the same pace with the tourism sector. The sustained decline of the oil prices is likely to have a negative impact on
the spending by the public sector, leading to reduced activities in the construction sector. The increasing surplus available from the oil
sector due to rising oil prices and the liquidity resulting from it have been beneficial for the real estate sector, considered nowadays as
the investment giving maximum returns in the Sultanate. Oman has now shifted its focus from oil and natural gas and education
sectors to the manufacturing and tourism sectors for diversifying its economy. Oman's construction sector still offers competitive
prices as compared to other countries in the GCC region, even after the shoot up in the prices of the real estate. Like most of its Gulf
neighbors, the construction market of Oman registered impressive growth over 2007 and 2008 across all the segments, as the values
of property showed growth of 200%. But, correction was experienced in the market after the global financial fallout resulting from
sub-prime crash of the US. There are many factors leading to the growth of construction industry in Oman at the current rapid pace it
is growing. These include significant investment by the government in infrastructure, low interest rates, high liquidity, population
explosion, expansion in the economy and rising wages besides liberalization leading to the availability of more land. Besides this,
banks have also been allowed to provide 45% of their loan portfolios for lending to the residential sector by the Central Bank. Another
favorable factor includes the change made in the laws dealing with the ownership of property by foreigners. As per the new law,
freehold designated property in the designated tourism resorts can be purchased by non Omanis for residential or investment
purpose. The drop in the prices of commodities used in construction has lured developers to step up their presence in affordable
housing sector. Private sector firms like Alargan Towell Investment Company are now taking steps to gain from low-cost construction
and through strong fundamentals of demand present in Oman.
Keywords
Oman Construction Market Data & Forecast to 2013 Page 1/4

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Oman Construction Market
Companies Mentioned
Larsen & Toubro Oman LLC
Bahwan Contracting Company LLC
Suhail Bahwan Group Holding LLC
Galfar Engineering & Contracting SAOG
Al-Hassan Group of Companies
Table of Content
Oman Construction Market Analysis
Oman Construction Competitive Landscape
Leading Oman Construction Companies
Oman Construction Market Forecast
Appendix
Oman Construction Market Data & Forecast to 2013 Page 2/4

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