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Sultanate’s real estate market to stabilise in 2018
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Oman’s GDP growth is expected to rise to 5.2 per cent next year, aided by the introduction of natural gas production at the Khazzan gas field and the opening of the new airport in Muscat. This will mark the strongest rate of expansion since 2015 and, in turn, should filter down to help steady the country’s property market, according to leading international real estate consultancy, Cluttons.
The Cluttons Muscat Winter 2017/18 Property Market Outlook indicates that Oman’s economy, like many of its Gulf neighbours, is still working its way through a challenging period, triggered by the shock collapse in oil prices in 2014. The country, however, is embarking on a journey to wean itself off its dependence on oil revenues through diversification efforts and positive government intervention. ....

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