JLL MENA real estate services in Oman
Saudi Arabia and
United Arab Emirates, Oman as a country has distinctive characteristics in demographic, social and cultural aspects. Recently listed among the top destinations to visit by many leading tourism agencies, Oman is destined to become a leading player in tourism with its unrivalled natural topography providing a unique blend of mountain and sandy beaches. Muscat, Salalah, Musandam and Nizwa have already become popular tourist destinations.
With limited oil resources, the Omani government mapped out a comprehensive strategic plan for economic development and diversification. Consequently, the year 2006 witnessed enactment of freehold property ownership law. This created a major uplift in the real estate sector and many Integrated Tourism Complex (ITC) projects were announced. Majority of these projects were announced in Muscat, the capital city, with The Wave and Barr Al Jissah project being the dominant ones. Despite the global slowdown, we believe Oman holds good prospects for real estate development underpinned by government backed strategic economic agenda and strong population growth.
Muscat Office Overview - Q3 2011