The Commercial Real Estate market in Oman is experiencing significant growth and development, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Commercial Real Estate market in Oman are shifting towards modern and high-quality properties that offer a range of amenities and facilities. Customers are increasingly looking for commercial spaces that are well-designed, energy-efficient, and technologically advanced. This shift in preferences is influenced by global trends in the commercial real estate industry, where modern and sustainable buildings are in high demand. Additionally, customers in Oman are also seeking properties that are centrally located and easily accessible, as well as those that provide flexible leasing options. Trends in the market indicate a growing demand for office spaces, retail spaces, and industrial properties in Oman. The expansion of businesses in various sectors, such as finance, technology, and retail, is driving the need for more office spaces. The growth of the tourism industry is also contributing to the demand for retail spaces, as shopping malls and retail outlets are being developed to cater to the increasing number of tourists. Furthermore, the development of industrial zones and free trade zones is attracting investments in the industrial sector, leading to a demand for industrial properties. Local special circumstances in Oman, such as government initiatives and regulations, are also playing a role in the development of the Commercial Real Estate market. The Omani government has implemented various measures to attract foreign investments and promote economic diversification. This includes the establishment of Special Economic Zones, which offer incentives and benefits to businesses operating within these zones. These initiatives are driving the demand for commercial properties in these designated areas. Underlying macroeconomic factors, such as economic growth and stability, are contributing to the development of the Commercial Real Estate market in Oman. The country's economy has been growing steadily, supported by various sectors such as oil and gas, tourism, and logistics. This economic growth is creating opportunities for businesses to expand and invest in commercial properties. Additionally, the stability of the Omani economy and its favorable business environment are attracting both local and international investors to the Commercial Real Estate market. In conclusion, the Commercial Real Estate market in Oman is experiencing growth and development due to shifting customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for modern and high-quality properties, the growth of various sectors, government initiatives, and economic stability are all contributing to the positive outlook for the Commercial Real Estate market in Oman.
Data coverage:
Figures are based on value of commercial real estate.Modeling approach / Market size:
Market sizes are determined by a bottom-up approach. As a basis for evaluating this market, we use national statistical offices. Next, we use relevant key market indicators and data from country-specific associations such as share of industry, manufacturing, and services of the GPD, price level index, GDP. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the market, for example, exponential trend smoothing.Additional Notes:
The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
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