The construction industry in Oman is expected to remain robust from 2015-18 because of significant increase in transport projects, infrastructure projects and construction of residential and commercial buildings. The contributing factors to the increase in construction projects include rapid population growth, urbanisation, expanding tourism and government’s growing interest in economic diversification.
The Omani government’s expansionary investment program is likely to benefit the construction industry. At present, some of the prominent construction projects that are expected to be completed by 2015-18 include:
- Batinah Expressway Construction Project of Ministry of Transport and Communications aims to improve transport links from Naseem Garden to Suwaiq.
- Transport Ministry is on their way to complete Oman National Railway project by 2018.
- Apex Medical Group will construct an International Medical City in Salalah, which includes healthcare education complex, wellness centre, healthcare resort and diagnostic centre.
- Wave Muscat S.A.O.C is focusing on the development of residential, hotel, leisure, entertainment and commercial facilities in Muscat.
There are a number of other projects that have been proposed and require approval before being forwarded for tendering process. Higher budget allocation, positive demographics and rising disposable income will further increase opportunities in the Omani construction industry. These indicators are enough to state that the Omani construction market has a positive outlook.