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Upbeat prospects

The Omani economy has developed rapidly in the last few years driven mainly by high oil prices. The economy has also been helped by the government focusing on increasing oil production by using advanced technologies like enhanced oil recovery. Oil production has increased from less than 800,000 barrels per day a few years ago to over 900,000 barrels per day in this year. The government …

Invest wisely

Right from the caveman, mankind has had an innate urge to own a home. It is a source of security, a source of pride and status and it satisfies a basic human instinct and necessity. Everyone aspires to own his or her dream home. There are a few things to take care of while acquiring a house. In almost all cases, one’s home is the largest …

Opportunities galore

There was one tower in Dubai in 1990. There are over 900 now. The GCC region has been changing fast with rapid economic growth. Oman has been no different. Per capita incomes in the Sultanate have tripled in the last ten years and buyers and tenants demand better quality accommodation and in the premium segment luxury and lifestyle. The Integrated Tourism Complex (ITC) projects like The Wave …

Transparency is need of the hour

Real Estate, to use, an economists technical term, is not a perfect market. Whereas a barrel of oil is identical to the next barrel of oil, a piece of real estate is usually different from another piece of real estate, even in the same location. This imperfection means that there are mispriced real estate assets and experienced and smart real estate investors pounce on these. …

The Grey Area of Measurement

Measurement of area is critical in real estate since selling prices and rental rates are usually based on this measurement. For a buyer to compare two different pieces of real estate unit rate is probably the only way. Unfortunately, there are no universal standards and even in the same market, different sellers and lessees use different measurements. The buyer/ renter must clearly ask the seller/lessee/ agent …

Oil price fall and real estate market

Oil Prices have dropped significantly in the last year. How has the real estate market in Oman reacted and what does the future hold? As of now, demand and supply are matched and therefore rents and prices are stable. Demand is underpinned by the fact that the economy continues to grow in real terms and, therefore, job creation continues. Non-oil GDP is growing at over four per cent …

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