Dossier TOP 20 Construction

ROBUST PARTNERSHIPS

Dr. Hamoud Rashid Al Tobi

CEO, Galfar Engineering and Contracting

highlights the company's priorities of ensuring safe project delivery and strengthening partnerships to enhance its role in Oman's development and global credibility

Together.. We build a confident future with steadfast steps

Together.. We build a confident future with steadfast steps

EDITORIAL

Mayank Singh

Khalfan Al Rahbi

Oommen John P

Ghalib Al Fori

Alvin Thomas

DESIGN

Director Production – Print & Digital

Ramesh Govindaraj

Assistant Art Directors

Aliya Al wahaibi

Khoula Al Wahibi

Chief Photographer

Rajesh Rajan

MARKETING

Associate Advertising Director

Shivkumar Gaitonde

Business Manager

Dhanish Pillai

CORPORATE

Chief Executive Officer

Atulya Sharma

Deputy CEO

Said Masoud Almashani

Published

EDITOR’S NOTE

Strategic Transformation

Oman’s construction sector is the second major contributor to the national economy and the country’s largest employer, accounting for approximately 9% of the GDP. The industry is currently undergoing a strategic transformation driven by Oman Vision 2040, shifting focus from traditional builds to high-performance, sustainable, and technology-integrated infrastructure.

The sector’s value is projected to reach approximately US$7.27 billion by 2026.

After a slight decline in previous years, the industry grew by 3.6% in 2025 according to estimates. Long-term forecasts suggest a compound annual growth rate (CAGR) of 4.4% between 2026 and 2029. While public spending still accounts for over 83% of the market, private funding is rising at a faster rate of over 5% CAGR. This is the result of the government’s encouragement of public-private partnerships (PPPs).

The key growth drivers include megaprojects such as the Sultan Haitham City, The Sustainable City – Yiti, Botanical Garden, Al Khuwair downtown project etc. A surge in Green Hydrogen projects and large-scale solar plants is creating a new pipeline for industrial and energy construction. Significant investments in the Hafeet Railway project link, connecting Sohar to the UAE, port expansions in Sohar, Duqm, Salalah and airport upgrades are boosting the civil engineering segment.

The government aims to triple annual visitors by 2040, driving demand for new resorts and Integrated Tourism Complexes (ITCs). The construction industry is also incorporating best practices such as sustainability, technological enablement and energy conservation. This issue of Dossier gives an overview of the best companies in construction, real estate and infrastructure led consultants. These are organisations, which will shape the future of the sector and enable it to fulfill the goals of Oman Vision 2040.

VIEWPOINT - TRANSPORT, COMMUNICATIONS AND INFORMATION TECHNOLOGY

FUTURE READY

Oman accelerates transport, digital transformation and technology growth in 2025

Oman continues to record substantial progress across the transport, logistics, communications and information technology sectors in 2025, driven by the Ministry of Transport, Communications and Information Technology (MTCIT). As investments surge, major infrastructure projects advance and the digital economy expands at unprecedented pace, the Sultanate is reinforcing its position as a competitive, connected and forwardlooking nation aligned with Oman Vision 2040.

By September 2025, total investments in the logistics and ICT sectors reached more than RO2.7 billion, reflecting strong confidence in Oman’s national infrastructure and digital transformation

HE Eng. Saeed bin Hamood bin Saeed Al Maawali Minister of Transport, Communications and Information Technology

capabilities. Alongside economic expansion, the Ministry continues to prioritise Omanisation, sustainability and global competitiveness.

Strong Investment Momentum

Investment in Oman’s logistics sector exceeded RO2.6 billion as of September 2025, supported by ongoing developments in roads, ports and transport networks. Meanwhile, the telecommunications and IT sector attracted nearly RO140 million, propelled by advancements in artificial intelligence, digital government, smart services and cloud infrastructure. Between 2020 and 2025, the Ministry

paid more than RO1.2 billion in privatesector dues for development projects, including RO227 million from January to August 2025 alone. Revenues generated by the Ministry reached RO26.6 million by August 2025 — an increase of more than RO 3.3 million compared with 20 24.

Advancement in Human Capital Development & Omanisation

Omanisation efforts in high-value sectors continue to produce tangible results:

l ICT Omanisation reached 67 per cent in technical, specialised and leadership roles.

l Logistics Omanisation reached 59 per cent in similar positions.

The Ministry’s job-creation initiatives include:

l Training and employment of 230 Omani seafarers through maritime workforce programs.

l Regulation of the fast-delivery sector, resulting in 140 new jobs.

l The Makkeen national skills initiative, which trained over 10,000 Omanis between 2021–2025 to build a competitive digital workforce.

In addition, the Ministry introduced the Local Content Incentive Framework for the telecom and IT sector to enhance the role of Omani talents and local tech products.

Global Rankings & International Recognition

Oman made significant leaps in international indicators during 2025:

l Improved by 6 per cent in the 2024 ESCWA E-Government and Mobile Services Maturity Index.

l Ranked 1st in the Arab world and 50th globally in the 2025 Postal Development Index.

l Ranked 1st in West Asia and 9th globally in the 2024 Open Data Index.

l Achieved perfect scores in legislation and governance related to technological innovation and ranked highly in telecom and IT regulation.

Growth recorded in the Digital Economy Navigator include:

l 44.5 per cent increase in digital innovation performance

l 36.2 per cent growth in digital inclusion

l 33.5 per cent expansion in core ICT activities

l 29.3 per cent growth in digital finance

Infrastructure & Transport Development Roads

The Ministry is implementing nearly 60 major road projects valued at more than RO 1 billion. Twenty of these projects exceeded 70 per cent completion.

Notable projects include:

l Sultan Turki bin Said Road (Ash Sharqiyah Expressway – Phase 2) 74 per cent complete

l Sultan Feisal bin Turki Road (Dibba–Lima–Khasab) 58 per cent complete, exceeding planned progress and set to strengthen Musandam’s connectivity.

In Dhofar, major work is underway on Phases 3, 4 and 5 of Sultan Said bin Taimur Road dualisation. Progress is also advancing on:

l Harweeb–Mitan Road — 185 km (out of 210 km) completed

l Izki–Nizwa–Qaroot South dualisation — 7 per cent progress

l Development of Al Mouj Road and the linked 18th November Street, including additional lanes, bridges and traffic improvements

l Preparations are ongoing for the expansion of the Muscat Expressway.

Ports Sector

Omani ports continue to register strong growth as regional trade gateways:

Maritime trade made up 66.2 per cent of total exports and imports in H1 2025.

Seaborne exports accounted for 74.4 per cent of total exports.

Re-exports via seaports reached 47 per cent.

Ship arrivals increased by 11.3 per cent, while container handling rose to over 3.8 million TEUs, marking a 16.4 per cent increase from 2024.

Cargo volumes reached 105.9 million tonnes, up 3.8 per cent over the previous year.

Maritime Affairs

Maritime affairs revenues surpassed RO 1 million in 2025 — a 31.24 per cent jump from 2024.

Key activities included:

l 212 licenses issued for foreign vessels

l 584 new vessel registrations under the Omani flag

l 1,859 vessel renewals

l 1,011 seafarers’ certificates issued

l 1,578 maritime activity licenses granted

Land Transport

Digital transformation in transport continues through the Naql platform, which processed more than 250,000 electronic transactions as of October 2025.

With a processing time of less than two minutes per request, the platform generated RO8 million in revenue and now provides 16 services covering taxis, buses and freight transport.

Sustainability & Clean Energy Transport

Oman is accelerating its transition toward sustainable and green mobility:

Electric Vehicles (EVs)

Over 160 EV chargers are now installed and operational nationwide.

Launch of the Shaahin national EV charging app enabling booking, navigation and digital payments.

VIEWPOINT - TRANSPORT, COMMUNICATIONS AND INFORMATION TECHNOLOGY

Green Hydrogen & Clean Technology

Launch of Oman’s first hydrogen production, supply and distribution station, the first of its kind in the Middle East.

Operation of 15 hydrogen-powered vehicles.

Development of the GCC’s first dual-fuel (diesel + hydrogen) truck, fully engineered by Omani talent.

Green Maritime Initiatives

Agreements were finalised to:

Build a green ship-recycling facility in Khatmat Malaha

Introduce shore-to-ship power at Sohar Port

Develop Oman’s first integrated green methanol production facility

ICT, Artificial Intelligence & Digital Governance

AI and Advanced Technologies Major in 2025 include:

l Launch of the National Generative AI Language Model

l Introduction of the Oman Digital Triangle (ODT) for green computing and AI data centers

l Establishment of an AI start-up zone

l Launch of the Green AI Alliance, AI Studio, and the second AI Makers Program

l Investment in AI reached RO 65 million, producing 22 AI-focused start-ups

Government Digital Transformation

Oman achieved major milestones in digital governance:

l Unified Government Services Portal with 30 new e-services

l Sign-language video library for people with disabilities

l Digital transformation performance reached 80 per cent

l 74 per cent of government services digitized

l 96 per cent of procedures simplifie d

Space Sector Development

Oman is building a competitive regional space ecosystem through:

l The Oman Space Accelerator supporting 10 start-ups

l The National Space Capacity-Building Program

l Expansion to 21 companies now operating in space-related fields

Cybersecurity Ecosystem

In 2025, the National Cybersecurity Center launched:

l The National e-Authentication Service (Thiqa)

l The Cybersecurity Industry Monitoring Center

l Two cybersecurity hubs across UTAS, SQU and Middle East College

Policies, Legislation & National Frameworks

New regulations issued in 2025 include:

l Electronic Transactions Law (Royal Decree 39/2025)

l Government Digital Transformation Regulation (MD 108/2025)

l National AI Safety & Ethics Policy

l National Data Governance & Management Framework

Enabling the Tech Ecosystem & Future

Skills

Makeen Digital

Skills Program

More than 10,000 Omanis trained from

2022–2025, including 1,325 trained in 2025 alone across 124 specialized programs.

Sas Innovation & Start-up Ecosystem

Key enabling programs include:

l Oman Startup Hub — 200+ start-ups, 48 incubators/accelerators, US$330 million+ financing

l Jedara Program for government adoption of local tech innovations

l Numu Program supporting scaling and regional expansion of tech SMEs

Semiconductors & Digital Industry

Oman is laying foundations for a high-tech semiconductor industry:

l MoU signed to build a semiconductor manufacturing project in Salalah Free Zone

l National program to integrate semiconductor education into engineering tracks

l Five-year specialist training plan

l Efforts to attract international semiconductor companies

l Establishment of a national Center of Excellence for Semiconductors

Oman’s transport, logistics, communications and ICT sectors are experiencing one of their most transformative periods in decades. With large-scale investments, groundbreaking digital initiatives, robust regulatory reforms and ambitious sustainability goals, the Sultanate is strengthening its competitiveness and shaping a resilient digital economy.

As Oman advances toward Vision 2040, these achievements position the nation as a regional leader in future-ready infrastructure, clean energy mobility, digital transformation and technological innovation.

Government Projects Forum Unveils Development Projects worth c1.5 Billion

The Projects, Tenders and Local Content Authority organized the “Government Projects Forum 2026” during which it said that 10,000 tenders were in place to be floated through 57 government departments. Held at Oman Convention

and Exhibition Centre on February 15, the forum outlined the mechanisms of tendering and awarding, as well as the process of digital transition in the tendering system.

HE Eng. Badr bin Salim Al Maamari,

Chairman of the Projects, Tenders and Local Content Authority, said that the forum provided details about government projects—”approved projects” and “projects under study”—that have an approximate value of more than RO 1.5 billion. Of this value, more than RO 475 million were slated for “approved projects” and over RO 1 billion for “projects under study”.

HE Al Maamari stressed that the Authority accords great attention to the active engagement of national companies and small and medium enterprises (SMEs) in these projects.

He said that national companies and SMEs are offered opportunities in “approved projects” to the tune of more than RO 90 million, in addition to opportunities worth more than RO 203 million in the “projects under study”. He added that the step aims to motive national supply chains and enhance the added value of the local economy.

He explained that key sectors where the projects are floated include construction, supply, public services, information technology, electromechanical contracting and consulting. Emphasis is laid on the

realisation of a balanced geographical and sectoral distribution of projects that supports comprehensive development.

HE Al Maamari affirmed that the forum constitutes an institutional approach based on dialogue and partnership and that it reflects the Authority’s commitment to empowering the private sector and enhancing local content in a manner that achieves the objectives of Oman Vision 2040.

In geographical terms, Muscat Governorate receives the largest number of tenders under study (413 tenders), followed by South Al Batinah Governorate (129 tenders) and North Al Batinah Governorate (101 tenders). As for approved tenders, Muscat Governorate also tops the list with 314 tenders, followed by South A’Sharqiyah Governorate (111 tenders) and Dhofar Governorate (69 tenders).

Eng. Said bin Hamad Al Amri, Director General of Tenders at the Projects, Tenders and Local Content Authority, said that, in 2025, tenders worth more than RO 1.7 billion were awarded through the Tender Board.

The forum included four dialogue sessions: The first discussed the Authority’s approach to managing government projects. The

second session focused on the construction sector and it elaborated on future projects for 2026, tendering mechanisms, technical and financial evaluation criteria and key challenges facing contracting companies.

The third session dealt with the procurement and public services sector. It discussed the future needs of government

departments, qualification and registration procedures, government framework contracts and related challenges.

The fourth session discussed the information technology sector. It reviewed the government’s approach to digital transition projects, information security and technological infrastructure.

Al Mouj Muscat Expands Its Best-Selling Oceanfront Portfolio with Final Release of Azura Beach Residences III and IV

Al Mouj Muscat, the Sultanate’s leading oceanfront lifestyle and leisure destination, has launched Azura Beach Residences III and IV, marking the final chapter of its best-selling coastal residential offering. Following the record sell-out of Phase I in July and Phase II in October 2025, this last release introduces an elevated collection of homes defined entirely by their exclusive marina and ocean outlook.

Designed around a singular vision of

uncompromised ocean-facing living, Azura Beach Residences III and IV present a combined collection of 570 premium apartments and 41 four-bedroom duplex chalets, each with private pools and lifts, and all positioned to secure uninterrupted views. Spacious open-plan layouts, floor-toceiling glazing and expansive terraces form a seamless indoor-outdoor experience that harnesses natural light and the tranquillity of the coastline. Each home has been intentionally designed to maximise privacy,

elevate wellbeing and maintain a constant dialogue with the surrounding views.

Located within the prestigious West Point precinct in the Al Marsa District, Azura Beach Residences offers direct access to some of Al Mouj Muscat’s most celebrated lifestyle amenities, including the 400-berth Al Mouj Marina, oceanfront dining and boutique retail, landscaped parks, and a signature 18-hole championship golf course. A suite of resort-style facilities, featuring an infinity-edge pool, private wellness areas, co-working lounges, and dedicated indoor and outdoor children’s play zones, further elevate the everyday living experience.

Nasser Al Sheibani, CEO of Al Mouj Muscat, said, “The extraordinary demand for Azura’s first two phases has confirmed a powerful shift in buyer and investor appetite towards premium waterfront living. This latest and final release represents a further expression of our commitment to delivering category-defining developments and cultivating distinctive communities that enrich daily life, celebrate natural beauty and reinforce Al Mouj Muscat’s position as the nation’s most desirable place to live.”

Residents of Azura Beach Residences will benefit from the full lifestyle ecosystem of Al Mouj Muscat, home to more than 80 dining and retail outlets, four premium hotels, an international school, kilometres of landscaped walkways and cycling paths, a vibrant public walk and plaza, a world-class marina with water sports and charter services, and yearround cultural and community activations.

With strong rental and resale demand, exceptional occupancy levels, and a track record of resilient value appreciation, Al Mouj Muscat continues to attract interest from local and international buyers seeking secure long-term investments in a masterplanned community. Azura Beach Residences III and IV is offered with 100% freehold ownership for all nationalities and eligibility for an Omani residence visa, presenting a compelling opportunity to own a limitededition waterfront home within an awardwinning destination of international standing.

Strategic Partnership between Alizz Islamic Bank and Oman Housing Bank for Personal Financing Solutions

Islamic Bank and Oman Housing Bank signed a Memorandum of Understanding (MoU) to provide Shari’a-compliant auto financing and personal financing solutions to eligible Oman Housing Bank customers, in a partnership that represents a new model of integration between local banks in the Sultanate.

This MoU marks a qualitative leap in the course of banking collaboration, enabling Oman Housing Bank customers to access flexible and competitive Islamic financing products with attractive profit rates. This initiative enhances the diversity of financing options, improves the quality of banking

and economic development aspirations. The cooperation contributes to expanding the range of services offered by Oman Housing Bank by enabling its customers to access car financing and personal financing solutions through Alizz Islamic Bank. This, in turn, enhances customer experience and meets diverse financing needs, particularly for Omani families seeking Shari’a-compliant financing solutions under competitive terms. Commenting on the signing of the agreement, Ali Al Mani, Chief Executive Officer of Alizz Islamic Bank, said “This agreement comes as part of Alizz Islamic Bank’s commitment to supporting national development priorities and enabling citizens to

access flexible and Shari’a-compliant financing solutions. We consider this partnership a strategic initiative that contributes to meeting the essential financial needs of Omani families and enhances financial stability for individuals through effective institutional integration with Oman Housing Bank.”

Al Mani added that the partnership reflects the bank’s vision to expand national partnerships and strengthen the role of Islamic banking in supporting the national economy, while empowering individuals to access innovative and sustainable financing solutions. Moosa bin Masoud Al Jadidi, Chief Executive Officer of Oman Housing Bank, stated: “This collaboration represents a milestone in Oman Housing Bank’s efforts to expand the range of financial solutions available to our customers, in line with our commitment to supporting citizens and enhancing their financial wellbeing. Our partnership with Alizz Islamic Bank allows us to broaden access to car and personal financing solutions, enhancing customer options, service quality, and longterm financial well-being for Omani families.”

The MoU builds on the successful cooperation between the two banks, particularly through their partnership under the “Iskan” program, where Alizz Islamic Bank played a pivotal role in supporting the program and achieving its outcomes. This reflects the mutual trust between the two institutions and lays the foundation for a new phase of long-term strategic collaboration.

This cooperation enables Oman Housing Bank customers to benefit from flexible and competitive financing solutions with a strong focus on customer experience, while ensuring full compliance with Shariah principles, thereby enhancing customer confidence and expanding the reach of Islamic banking within the diverse financial services ecosystem. Through this agreement, Alizz Islamic Bank reaffirms its ongoing commitment to building strategic partnerships with national institutions, contributing to the development of the financial sector, strengthening the Islamic banking ecosystem in the Sultanate, delivering sustainable added value for all stakeholders, and supporting Oman’s Vision for financial innovation and economic sustainability.

Program Launched to Enhance Project Management Efficiency, Develop Contract System

The Projects, Tenders and Local Content Authority, in cooperation with the Small and Medium Enterprises Development Authority (Riyada), recently launched a program named “Imkan Plus”. This is one of the developmental initiatives aimed at raising the efficiency of national cadres in the projects and construction sector, specifically engineers working in contracting and engineering consultancy firms registered with Riyada.

The program also aims to develop project and contract management skills in line with modern practices, contributing to improving implementation quality, enhancing spending efficiency in projects, and reducing change orders. It will run for 5 months, with 6 weeks allocated for each group.

The program complements the training programs launched by the Projects, Tenders and Local Content Authority in previous periods to qualify national cadres in government projects and contracts. It introduces blended learning methodologies, combining theoretical and practical aspects, and focuses on developing the technical and cognitive skills of engineers in executing and monitoring projects and contracts. This will enable them to efficiently deal with challenges related to the project cycle and apply what they learn to ongoing national projects.

Manager of “Imkan Plus” stated that the program targets national companies operating in the fields of contracting, civil and architectural engineering, and engineering consultancy. Statistics have shown that the number of companies registered with the Small and Medium Enterprises Development Authority in the construction and engineering consultancy sector exceeded 7,200 companies in 2025. Within the program, 1,380 companies specialised in the construction sector have been targeted, representing approximately 19% of the total companies operating in these activities, reflecting the size of the sector and the importance of investing in human resource development, he added.

He pointed out that the program includes a

comprehensive assessment to measure the knowledge and skill impact on participants. The results of previous programs have shown high performance indicators, including achieving a final success rate of 89%, which reflects the program’s effectiveness in combining theoretical knowledge and practical application.

Eng. Ahmed Hamed Al Asmi, Director of the Local Value-Added Department at the Small and Medium Enterprises Development Authority (Riyada), said that the program reflects the partnership between Riyada and the Projects, Tenders and Local Content Authority towards developing the project management system through investing in

Hotel Revenues for 3-5 Star Category Exceed c297 Million in 2025

Revenues for hotels classified within the 3 to 5-star category in the Sultanate of Oman rose by 22.2 percent by the end of December 2025, reaching approximately RO 297,316,000 compared to the same period in 2024. Hotel occupancy rates also increased to 56.7 percent, up from 49.9 percent during the corresponding period in 2024. Statistical data for the tourism sector in the Sultanate of Oman through the end of December 2025 showed a 10.8 percent increase in the number of guests at 3 to 5-star hotels, totaling 2,376,955 guests compared to the same period in 2024.

Data issued by the National Centre for Statistics and Information indicated that the number of Omani guests grew by 6.6 percent to reach 857,481, while the number of guests from GCC countries rose by 7.2 percent to 212,798. Conversely, the number of guests from other Arab countries decreased by 1.6 percent to 101,377.

reaching 345,526, while guests from the African continent increased by 20.2 percent to 15,321. The number of guests from the European continent rose by 22.3 percent to 659,571, while guests from the American

from Oceania increased by 25.2 percent to 41,386 by the end of December 2025. These indicators reflect the positive performance of the hotel sector in the Sultanate of Oman, supported by the growth of tourism activity.

National Programme Launched to Enhance Efficiency of Constructio Sector in Oman

The Ministry of Commerce, Industry and Investment Promotion has launched the National Programme for Enhancing the Efficiency of the Construction Sector, a strategic initiative aimed at developing the capabilities of professionals in the sector, raising execution quality, and strengthening professional practices in accordance with the highest approved standards.

The programme focuses on hands-on, practical training through specialised educational content that addresses real-world challenges, contributing to the development of technical and administrative skills among workers— positively impacting project management and the quality of project outputs.

construction sector professionals and stakeholders across different governorates.

showcasing best practices in construction materials and execution quality.

The programme is being delivered through in-person sessions in several wilayats across the governorates, including Muscat, Nizwa, and Sohar, in addition to offering remote participation options. This approach seeks to broaden access and provide opportunities for various categories of

Organised under the supervision of the Ministry of Commerce, Industry and Investment Promotion, in collaboration with the “E-Binaa” platform, the programme sees participation from a number of companies and suppliers specialized in the construction sector. These entities contribute by transferring practical expertise and

The programme aims to empower national competencies, raise the level of professionalism within the construction sector, improve project quality, reduce risks and implementation challenges, as well as support the sector’s sustainability and enhance its contribution to economic development.

COMPETITIVE EDGE

Galfar’s strategy focuses on transitioning from a volume led to a value and capability driven model. We emphasise disciplined project selection, strong risk management and aligning closely with client objectives from the project’s inception to execution, says CEO, Dr. Hamoud Rashid Al Tobi in an interview

Galfar Engineering and Contracting has been a major force in Oman’s contracting and infrastructure landscape for decades. Under your leadership, what do you consider the most significant achievements or milestones the company has reached in the past few years?

Over the past few years, Galfar has undergone a period of decisive transformation focused on restoring resilience, strengthening governance, and rebuilding sustainable growth. One of our most important milestones has been stabilising the business after a challenging cycle in the construction sector, while preserving Galfar’s position as the leading national contractor in Oman.

We have successfully rebuilt our order book with a more disciplined, risk-aware approach, secured several strategic infrastructure and energy projects, and strengthened our delivery capability across core sectors such as roads, oil and gas, water, power, aviation, and urban development. Equally important has been the internal transformation — improving financial controls, enhancing project governance, and instilling a stronger performance culture across the organisation. These achievements are not just about scale or contracts won; they represent a recalibration of Galfar’s operating model to ensure long-term sustainability, credibility with stakeholders, and value creation for shareholders.

Oman’s construction and infrastructure sectors are undergoing rapid transformation. How is Galfar positioning itself to remain competitive and continue delivering large-scale, high-impact projects across the country and beyond?

The construction and infrastructure sector in Oman is evolving rapidly, with greater emphasis on delivery certainty, value for money, and long-term impact. Galfar’s strategy has been to respond proactively by shifting from a volume-led approach to a value- and capabilityled operating model. We are positioning the company through disciplined project selection, robust risk management, and closer alignment with client objectives from early project stages through to execution. This includes leveraging our deep local knowledge, technical depth, and strong project governance to consistently deliver complex, large-scale infrastructure projects across key sectors.

A key competitive advantage for Galfar is our role as the largest employer of Omani nationals in the contracting sector. This gives us unparalleled continuity, institutional knowledge, and alignment with national priorities. Our strong national workforce enhances execution reliability, strengthens relationships with stakeholders, and enables us to develop long-term capability rather than short-term capacity. In parallel, we continue to invest in specialist skills, strategic partnerships, and joint ventures that complement our in-house strengths. Regionally, any expansion is approached selectively and prudently, ensuring it aligns with our core competencies and risk appetite. Through this balanced approach, Galfar remains well positioned to compete effectively while supporting Oman’s broader development objectives.

Sustainability and digital transformation are becoming essential in the contracting industry. What steps is Galfar taking to integrate advanced technologies, modern project management practices, and sustainable solutions

into its operations?

Sustainability and digital transformation are no longer optional — they are fundamental to the future of contracting. At Galfar, we are embedding both into our operating DNA. On sustainability, we are integrating more environmentally responsible construction practices, optimising material usage, reducing waste, and supporting national objectives around energy efficiency and low-carbon emissions. We also view sustainability through a broader lens including safety, social responsibility, and long-term economic value.

Digitally, we are accelerating the adoption of modern project management tools, data-driven controls, and emerging technologies such as AI, Robotics, and Data Analytics to improve productivity, transparency, and decisionmaking. This is complemented by investments in systems, skills, and leadership to ensure technology genuinely enhances execution rather than becoming an isolated initiative.

As CEO, what is your long-term vision for Galfar? How do you see the company evolving in the next 5 to 10 years, both in terms of market presence and diversification?

My long-term aspiration is for Galfar to evolve into a highly disciplined, technology-enabled engineering and construction group that consistently delivers complex projects with excellence, predictability, and integrity. Over the next five to ten years, I see Galfar strengthening its leadership position in Oman while selectively expanding into regional and adjacent markets where our expertise is relevant. Diversification will be pursued thoughtfully building on our core competencies rather than chasing unrelated growth. Equally important is cultural evolution. Galfar must be an organisation known for strong

governance, empowered leadership, continuous learning, and a high-performance mindset. Success for us will not be defined solely by size, but by the quality of our projects, the strength of our people, and the trust we earn from stakeholders, partners, and society.

Human capital has always been a cornerstone of Galfar’s success. What initiatives are you implementing to develop local talent, enhance workforce skills, and build a strong leadership pipeline within the company?

Human capital has always been Galfar’s greatest asset, and developing Omani talent remains a strategic priority and national commitment. We are investing in structured training, technical upskilling, and leadership development programs to ensure our people are equipped for the future of the industry. We are placing greater emphasis on succession planning, mentoring, and exposure to complex projects so that high-potential employees gain real leadership experience early. At the same time, we are strengthening performance management and accountability to create a culture where merit, capability, and results are recognised. Our objective is to build a strong, sustainable leadership pipeline one that reflects national aspirations, supports Omanisation goals, and ensures continuity of expertise across generations.

Looking ahead, what upcoming projects or strategic goals are you most excited about, and how do you expect these initiatives to shape Galfar’s future in the regional and international markets?

What excites me most is not just individual projects, but the strategic direction Galfar is now taking. We are involved in several major infrastructure and energy developments that will have a lasting impact on Oman’s economy

and communities. Looking ahead, our priorities include delivering these projects safely and successfully, strengthening partnerships with clients and our supply chain partners, and continuing our internal transformation journey. These initiatives will position Galfar to play

a central role in the next phase of Oman’s development while enhancing our credibility in regional and international markets. Ultimately, our focus is clear: execute with excellence today while building a stronger, more agile Galfar for the future.

Human capital has always been Galfar’s greatest asset, and developing Omani talent remains a strategic priority and national commitment. We are investing in structured training, technical upskilling, and leadership development programs to ensure our people are equipped for the future of the industry.

TOP CONTRACTORS CONSULTANTS & REAL ESTATE COMPANIES 20

A look at industry leaders who are shaping the infrastructure landscape of Oman

Abu Hatim Co. LLC

Abu Hatim Co. LLC is a diversified Omani contractor providing general construction and civil engineering services. The company undertakes commercial buildings, infrastructure works, and structural projects, aligning execution with client specifications and safety standards. Through effective site management and resource planning, Abu Hatim Co. contributes to Oman’s construction and development landscape, serving both public and private sector clients.

Al Adrak Trading & Contracting

Al Adrak Trading & Contracting is a well-recognized Omani contractor with a diverse portfolio spanning commercial buildings, infrastructure, and industrial projects. The company undertakes earthworks, structural construction, finishing works, and integrated civil services. Known for its responsiveness and adaptability, Al Adrak emphasizes quality control, safety compliance, and strong client relationships. Over the years, it has supported numerous public and private sector developments, contributing to Oman’s built environment and infrastructure growth. Its practical execution capabilities and local expertise strengthen its standing within the Sultanate’s construction sector.

Al Nab’a Infrastructure

Al Naba Infrastructure specializes in infrastructure development services including road construction, drainage systems, site development, and utility installations. The company supports broader civil and industrial projects through earthworks, paving, and integrated infrastructure solutions. Its Property Management & Maintenance Division combines expertise and acumen to manage and maintain any property, irrespective of its size and market value. The company’s track record in maintaining and managing some of the prestigious properties in Oman stand testimony to expertise and professionalism. With a focus on cost-effective execution and resource optimization, Al Naba Infrastructure contributes to Oman’s urban expansion and industrial growth. Its practical engineering capabilities help facilitate large-scale development programs across both public and private sectors.

Arkan Majan International

Al Tasnim Group

With over five decades in operation, Al Tasnim is the leader in Oman’s Construction, Manufacturing, and Mining industry. Al Tasnim is a key player in Oman’s civil engineering and infrastructure sector. The company delivers roads, utilities, industrial facilities, and building projects, supported by ISO-certified quality systems. In addition to construction services, the group is also involved in building materials manufacturing, strengthening its integrated value chain. Its focus on quality, sustainability, and client satisfaction positions it as a trusted contractor supporting national development programs.

Arkan Majan International L.L.C.is an Excellent Grade Construction Company specializing in Residential, Commercial and Educational Buildings and other related civil work activities with its aim to combine forces, skills and capabilities to serve the local market by introducing sate of art construction systems and innovative construction methodology. Since its re-launch in year 2011, Arkan Majan has managed to sign multi-million Rials worth of projects such as “Landmark Building” “ Fraser Suite Hotel” & “IHG Hotel at Jabal Alakdar”, a mixed use township, 2 colleges in Muscat & IBRA for Ministry of Manpower, 33 Villas Complex in Sur Al Hadeed, a Residential Complex for the Port of Salalah, Two Masjed & Two Schools. Arkan Majan International has and continues to achieved highest possible quality and client satisfaction.

* List is in alphabetical order of first names

Atlantic Construction

Atlantic Construction, established in 2009, is an “Excellent Grade” Omani contractor offering EPC services across civil and MEP works. The company handles residential, commercial, retail, industrial, and institutional developments. With a growing portfolio of completed projects, Atlantic Construction emphasizes professionalism, safety compliance, and quality assurance. Its structured project management systems and commitment to timely delivery have enabled it to build a strong reputation in Oman’s competitive construction sector, often securing repeat business from satisfied clients.

Bahwan Engineering Company (BEC)

Bahwan Engineering Company is one of Oman’s leading engineering and construction groups, established in 1977. The company provides integrated EPC solutions across civil, mechanical, electrical, and instrumentation disciplines, serving sectors such as oil & gas, power, water, airports, and commercial infrastructure. With a large workforce and strong in-country expertise, BEC has built a reputation for quality delivery, safety compliance, and technical proficiency. Beyond construction, the group is active in facilities management, manufacturing, and product supply. Its diversified capabilities and longstanding presence make it a key contributor to Oman’s industrial growth and infrastructure development.

Best Infrastructure Services

Best Infrastructure Services provides civil construction and infrastructure support solutions in Oman. The company undertakes site preparation, utility works, and structural construction activities for residential and commercial projects. Emphasizing safety, quality, and project responsiveness, Best Infrastructure Services works to meet evolving client requirements in a competitive market. Through skilled workforce deployment and efficient project management practices, it supports the steady growth of Oman’s infrastructure and building sector.

Carillion Alawi LLC

Carillion Alawi is a trusted partner for providing integrated solutions across facilities management, infrastructure, and construction sectors, bringing lasting benefits to our customers and communities. It has been present in the Sultanate of Oman since 1965, establishing a reputation as one of the region’s leading quality contractors.The company provides facilities management, infrastructure, and construction throughout Oman. Its expertise is founded on building lasting relationships and investing in our people and capability, with particular emphasis on in-country value. Carillion Alawi LLC has delivered some of the most prestigious projects that have shaped the region, including the construction of Sultan Qaboos Grand Mosque, Royal Opera House, Muscat International Airport, and Oman Convention and Exhibition Centre.

Consolidated Contractors Company (CCC)

Consolidated Contractors Company (CCC) is a globally recognized engineering and construction firm founded in 1952. Active across the Middle East, CCC delivers large-scale projects in oil & gas, heavy civil engineering, power generation, and infrastructure. Known for managing technically complex EPC assignments, the company integrates international standards of quality, safety, and project management. In Oman, CCC has supported major industrial and energy developments, bringing global expertise and advanced engineering solutions to the Sultanate’s strategic projects.

TOP 20 CONTRACTORS

Douglas OHI

Douglas OHI is a leading construction and engineering group operating in Oman, the UAE, and Saudi Arabia. With a proven track record, the company excels in major initiatives across oil and gas, industrial plants, infrastructure, and hospitality sectors.

Douglas OHI is dedicated to delivering complex projects with a focus on safety, quality, environmental performance, efficiency, and cost control. It engages in co-developments and innovations to meet industry needs, partnering with global bodies like CIOB and RICS to deliver innovative, standardised solutions and foster a collaborative, joined-up industry.

Galfar Engineering & Contracting SAOG

Founded in 1972, Galfar Engineering & Contracting is one of Oman’s largest and most established construction companies. The publicly listed firm delivers major civil infrastructure, roads, bridges, airports, buildings, and oil & gas facilities. With extensive manpower and equipment resources, Galfar has played a central role in shaping Oman’s transport and energy infrastructure. The company emphasizes quality assurance, safety standards, and timely project completion. Its long-standing experience in executing large government and private sector contracts positions it as a cornerstone contractor supporting national development initiatives and economic diversification.

Firas Bin Fatik SPC

Firas Bin Fatik SPC is a one stop-solution provider specialised in providing turnkey solutions for Sports & Fitness projects from thought to finish including design, supply, installation and maintenance of multipurpose sports flooring, artificial turf, running tracks, Sports Lighting & Equipment, Fitness centers, Spa, swimming pools equipment, and commercial arena seating and Screens based in Muscat. Its foundation rests upon the principles of quality, reliability, innovation, and national responsibility. It distinguishes itself by going beyond the conventional role of a supplier and acts as a strategic partner, beginning with design advisory, integrating the latest advancements in global sports technology, and engineering facilities that deliver enduring value.

KR Construction Company

KR Construction Co is a regional contracting firm engaged in civil construction, commercial building, and infrastructure development projects. The company undertakes structural works, site preparation, and MEP coordination for public and private clients. With a focus on efficient project execution, cost management, and adherence to safety standards, KR Construction supports Oman’s expanding urban and industrial sectors. Its client-centric approach and commitment to timely delivery have enabled it to maintain a steady presence in the competitive construction market, contributing to residential, commercial, and mixed-use developments.

L&T Oman is a leading engineering and construction company serving the Sultanate of Oman for over three decades, contributing to national infrastructure and industrial development. The company delivers a diversified portfolio spanning buildings, industrial facilities, transportation infrastructure, power transmission, and water projects, distinguished by technical excellence, reliability, and proven execution capability.

A defining pillar of L&T (Oman)’s identity is its strong commitment to Omanisation, fostering local talent through structured training, mentoring, and exposure to advanced construction technologies. The company maintains rigorous standards in quality, safety, sustainability, and operational excellence, earning sustained client confidence and industry recognition. Through its focused In-Country Value (ICV) initiatives, L&T (Oman) actively supports local SMEs, promotes Omani products and services, and strengthens domestic supply chains— reinforcing its alignment with the nation’s long-term development priorities.

* List is in alphabetical order of first names

Oman Engineering & Contracting Company

Oman Engineering & Contracting Co. provides civil engineering, building construction, and project coordination services within the Sultanate. The company focuses on structured execution, safety compliance, and timely delivery to meet client expectations. Serving both public and private sector developments, it contributes to Oman’s infrastructure modernization and real estate expansion, reinforcing its role within the national construction ecosystem. It cover wide areas of Civil Engineering like Roads, Asphalt, Milling & Resurfacing, Infrastructure work, Drainage structures and Road furnishing, Road marking, Street Lighting etc and delivers on time with quality and within the cost committed.

Services & Trade Company

Services & Trade is a construction and support services provider engaged in civil works, site operations, and building services within Oman. The company contributes to residential, commercial, and infrastructure developments by delivering foundational and structural works. With a focus on quality and compliance, Services & Trade supports project efficiency while maintaining industry safety standards.

Sarooj Construction Company

Sarooj Construction is a GCC-based contractor with strong roots in Oman, delivering infrastructure, transportation, marine, and oil & gas projects. The company offers civil works, earthworks, utilities, and design-and-build solutions aligned with national development objectives. Sarooj emphasizes safety, sustainability, and engineering excellence, ensuring projects meet technical and environmental standards. With experienced leadership and a skilled workforce, the company has successfully executed projects that enhance community infrastructure and industrial capacity. Its diversified expertise enables it to serve both government and private sector clients across Oman and the region.

STRABAG Oman LLC

STRABAG Oman LLC is part of the European construction group STRABAG SE and has operated in Oman for decades. The company specializes in civil engineering, transportation infrastructure, water management, and large-scale building projects. Leveraging global technical expertise and local execution capability, STRABAG delivers complex assignments such as roads, bridges, dams, and industrial facilities. It maintains strict safety and quality standards while integrating sustainable construction practices. STRABAG’s longterm presence in the Sultanate reflects its commitment to supporting Oman’s infrastructure modernization and economic development.

Towell Construction

Towell Construction, part of the W.J. Towell Group, is a well-established civil and electro-mechanical contractor in Oman. The company provides integrated construction services across commercial, industrial, and infrastructure sectors. Known for delivering complex civil works and MEP systems, Towell Construction emphasizes safety, technical accuracy, and schedule reliability. Its longstanding presence reflects significant contributions to Oman’s urban and industrial development, supported by experienced project teams and robust management systems.

TOP 20 CONSULTANTS

Al Hatmy Engg Consultancy

Al Hatmy Engineering Consultancy (AHEC) is one of Oman’s long-standing consulting engineering firms, with a heritage that traces back to the late 1970s and a positioning built around multi-disciplinary engineering consultancy services. Public company profiles indicate it was founded in 1978 and operates from Muscat, with a mid-sized team footprint. The firm’s online presence emphasizes professional consulting engineering support across the built environment—typically spanning design development, engineering coordination, and project support services for clients that need local regulatory fluency and on-theground supervision capability. In addition to its Muscat base, Al Hatmy’s wider brand presence includes “design & engineering consultancy” listings that show the group’s broader regional reach and contact infrastructure—useful for clients running crossborder workstreams. Overall, AHEC’s appeal is “local credibility + continuity”: an established name in Oman’s consultancy ecosystem with multi-decade operating history and repeat engagement potential on buildings and infrastructure programs.

Al Saqf Engineering Consultancy

Al Saqf Engineering Consultancy is an Oman-based engineering firm focused on architectural design, civil and structural engineering, and project supervision services. The company is typically engaged in residential, commercial, and mid-scale development projects, supporting clients from conceptual design through to construction oversight. Public listings and procurement references indicate that Al Saqf operates primarily within Oman’s local market, providing practical engineering solutions aligned with municipal and regulatory requirements. Its service model emphasises close client engagement, cost efficiency, and compliance with Omani building standards. Firms of this profile often play a crucial role in Oman’s SME-driven construction ecosystem, serving private developers and individual landowners who require licensed engineering design approvals and supervision certification.

Al Manarah Engineering Consultancy

Al Manarah Engineering Consultancy is one of the most experienced engineering consultants, presently operating in Oman. It has sustained itself over the last few years as an innovative leader in the field. This premise is based on a wide range of projects in which AMEC has had a major determinant role.

Al Manarah Engineering Consultancy is locally registered and it was established in 1992. The company has extensive experience all over Oman in various areas related to engineering consultancy.

Arkan Majan Engineering Consultancy

Arkan Majan is an Omani-based engineering consultancy established in 2012. The firm’s published services are clearly structured around end-to-end building and site development needs: architectural and interior design, landscaping, civil & structural design, and construction management/supervision. The company also holds a strong project-led identity –organizing work by categories such as villas, residential/ commercial, and landscape/interiors – with strength in design delivery for private developers and owner-driven projects.

Artelia Muscat Engineering Consultancy

Artelia Muscat Engineering Consultancy is part of the global Artelia Group, a France-headquartered international engineering and project management company operating in more than 40 countries. The Muscat office extends Artelia’s global expertise into Oman’s infrastructure, transportation, energy, water, and urban development sectors. Internationally, Artelia is widely recognised for its involvement in complex infrastructure programs, including rail, ports, airports, and water treatment facilities worldwide. In Oman, the firm supports public and private clients with feasibility studies, detailed engineering design, technical advisory, and construction supervision services. Artelia’s global positioning emphasises innovation, sustainability, and risk-managed delivery – particularly in climate-resilient and environmentally responsible infrastructure. The company’s international governance systems, combined with local market understanding, allow it to operate effectively on large-scale strategic projects. Its presence in Oman reflects the country’s integration into broader international engineering networks and its ambition to attract globally experienced consultancy partners.

* List is in alphabetical order of first names

AtkinsRéalis

AtkinsRéalis is a global engineering services and project management company that positions itself around “engineering a better future” by connecting people, data, and technology to deliver infrastructure and energy-system outcomes. Its core strengths span multidisciplinary design and advisory, program/ project delivery, and digitally enabled engineering aimed at complex, large-scale built environment and energy transitions.

In the Middle East, the firm highlights deep regional activity and a broad bench of consultants, designers, engineers, and project managers operating across major projects at any given time. Recent Oman-facing visibility includes public collaboration announcements in the energy space, signalling an interest in supporting long-term, lower-carbon power and grid planning conversations alongside its traditional infrastructure footprint.

Dawood Engineering Consultants

Dawood Engineering Consultants (DEC) is a multidisciplinary engineering consultancy operating in the Sultanate of Oman since 1998. The company is known for delivering civil, structural, mechanical, and electrical engineering services. Regional business directories and project listings vouch that DEC stands as a reputable local engineering partner with experience on commercial, residential, and infrastructure projects. The company often works with developers and contractors on design supervision, construction support, and technical consultancy – serving as an interface between owners and execution teams. The company also indicates that it supports infrastructure planning, cost estimation, and value engineering tasks, which can improve constructability and reduce lifecycle costs for clients.

F&M Middle East

AZD Engineering Consultancy

AZD Engineering Consultancy is a regional engineering services firm with a focus on civil and structural engineering disciplines, frequently engaged by developers, contractors, and public clients in Oman and neighbouring markets. The company’s core strength lies in practical delivery support: structural analysis, architectural coordination, MEP integration, and construction oversight, often bridging the gap between client requirements and on-site execution realities. With experience on a variety of built projects, the company positions itself as a hands-on engineering consultancy with regional expertise tailored to sector-specific needs, particularly in residential and commercial developments.

Design Group Engineering Consultants

Design Group Engineering Consultants (DG) markets itself as a multi-disciplinary consultancy shaped by Building Information Modelling (BIM)-led delivery and cross-market execution. Its public positioning leans heavily into “engineering with BIM technology,” suggesting strength in coordinated design workflows across architecture/structural/MEP interfaces – often critical for reducing clashes, rework, and cost surprises on site. DG highlights origins and growth tied to Oman and indicates operations across multiple geographies (including Oman and other international locations), reinforcing a “local grounding and global execution” pitch that resonates with developers handling varied regulatory environments. The firm frames it as an innovator “shaping the built environment” and trusted on major projects, reflecting an emphasis on value, modern tools, and integrated engineering services.

F&M Middle East presents itself as an engineering and “lead design” consultancy that blends international experience with a strong regional base. The company boasts decades of delivery experience, with capabilities spanning civil engineering, architecture, infrastructure, and sustainability – positioning it for complex developments that need integrated design coordination rather than siloed discipline outputs. The company also underlines a diverse professional team and a wide project track record.

TOP 20 CONSULTANTS

Gulf Engineering Consultancy

Gulf Engineering Consultancy (GEC) positions itself as a comprehensive design and engineering firm offering architecture, structural engineering, MEP, and project management under one roof. The company emphasises a blend of modern engineering delivery with respect for Oman’s architectural heritage, and it highlights a 40+ year evolution into a recognised local consultancy. The firm was founded in 1982 and headquartered in Muscat, reinforcing the “established local player” positioning that matters in owner and government procurement.

KEO Consultants

KEO International Consultants is one of the Middle East’s most established engineering and project management firms, with a strong footprint in Oman. Founded in the region, KEO delivers a full suite of services across architecture, engineering, procurement, project and construction management (AEC/ PM/CM), and sustainability consulting. The firm is widely recognised for major infrastructure, urban development, transportation, and institutional projects across the GCC. In Oman, KEO has supported government and private sector clients in sectors like healthcare, education, residential, and master planning, building credibility as a go-to multidisciplinary consultancy.

Hill International

Hill International is widely known for program, project, and construction management – framing success as achieving the best outcome for clients on major construction and infrastructure assignments. Its core service set includes cost engineering/estimating, scheduling, risk management, quality assurance/inspection, and advisory; all of which are capabilities often used to control time, cost, and claims exposure on large, multi-stakeholder projects. The company also has visible activity in major regional transit and mega-program contexts, and it has public communications describing how it supports complex rail and infrastructure delivery.

Majan Engineering Consultant

Majan Engineering Consultant positions itself as one of the leading engineering consultancies in Oman, with a strong emphasis on quantity surveying, cost management, project management, and related commercial/contract advisory functions that owners rely on to control budgets and procurement risk. This is a distinct value proposition compared to design-only consultancies. Quantity Surveys and cost management are often brought in early to validate feasibility, establish realistic project budgets, manage variations, and maintain cost discipline through tendering and construction. The firm reportedly also serves as a client-side commercial partner – supporting decision-making with measurement, estimation, and cost control frameworks rather than focusing purely on architectural/engineering design. For developers, asset owners, and institutional clients, that typically translates into improved tender comparability, tighter contract administration, and clearer visibility on total project cost over time.

Muscat Engineering Consultancy

Muscat Engineering Consultancy (MEC) is a pioneering engineering and project management consultancy headquartered in Muscat, with high-value engineering design centers in India (Mumbai & Chennai) and a large delivery workforce (the firm cites 850+ employees). MEC emphasises coverage across the full asset lifecycle – from idea inception through to asset management – supported by experience executing both mega greenfield and complex brownfield projects while balancing cost, schedule, quality, and risk. Sector-wise, the company has activities across oil and gas, energy, and related process industries where governance, engineering depth, and multi-discipline coordination are crucial.

* List is in alphabetical order of first names

National Engineering Office

National Engineering Office (NEO) is an independent and 100% Omani multi-disciplinary firm of consulting engineers, architects, interior designers, surveyors, planners, cost consultants and project managers. The company was established in the Sultanate of Oman in April 1981, by Eng. Ali Mohamed Ali Al Mahruqi. The firm was developed successfully by providing quality consulting services, and through a strategy of regionalisation and diversification. The firm’s added value is realised by offering clients anywhere in the Sultanate of Oman the broad range of knowledge and experience equivalent to that of an international company in a way that meets both local expectations, and international standards.

Nicholson Jones Partnership Oman (NJP Oman)

Nicholson Jones Partnership is an international engineering consultancy with a dedicated Oman arm. The firm focuses on civil and structural engineering, offering services such as structural design, project management, site supervision, and construction support across public and private sectors. NJP’s global network underscores an ability to bring international standards to regional projects, often working on large-scale infrastructure, real estate, and industrial developments. Its Oman presence strengthens local delivery with contextual knowledge of regulations and construction practices.

Renardet SA & Partners

Renardet SA & Partners is part of the wider Renardet Group, with origins linked to Geneva and a long-running operating history across GCC markets. The company’s Middle East and North Africa presence is structured through its regional entity, which it describes as serving client needs across the region and scaling with branch offices when required. Renardet’s positioning emphasises independent consulting engineering and multi-disciplinary delivery, reflecting a model that often supports clients through feasibility, design, engineering supervision, and technical advisory across infrastructure and built-environment programs. Its own published profile highlights “over 35 years” of GCC experience and a regional base in Oman, which they have utilised in public-sector and utility-linked assignments.

VIA International Engineering Consultancy

VIA International Engineering Consultancy is an engineering firm operating in Oman with a focus on civil, structural, and architectural consultancy services. The company is a provider of engineering design, supervision, and technical advisory support across residential and commercial developments. They also have experience in delivering building design documentation, authority approvals, and construction monitoring services – core requirements in Oman’s structured planning and development framework. Its branding implies an outward-looking approach, potentially engaging expertise and practices drawn from broader regional markets.

Worley Oman

Worley is a leading global engineering, procurement, and construction management (EPCM) firm with a solid presence in the Middle East, including Oman. Its core business focuses on energy, chemicals, and resources industries, delivering technical and project management services from feasibility through execution and operations support. The company emphasises enabling clients to navigate complex transitions, including decarbonisation, energy diversification, and digital transformation. In Oman, Worley’s footprint typically aligns with oil & gas, petrochemical, and utility infrastructure sectors, supporting both national energy companies and international investors. Publicly, Worley highlights a commitment to sustainability and safety, leveraging digital tools, advanced analytics, and integrated project teams to reduce risk and improve delivery outcomes.

TOP 20 REAL ESTATE COMPANIES

AL MOUJ MUSCAT

Al Mouj Muscat is a well-established master planned community and destination without an equal. It has redefined urban living in the region with an impressive portfolio of oceanfront, waterfront and urban residential properties, luxury and authentic hospitality, elegant Business Parks, award-winning architecture and welldesigned landscapes. A warm and diverse community at the heart of Oman’s capital, Al Mouj Muscat created a sense of belonging for over 9,000 residents from 94 nationalities who now call it home. Al Mouj Muscat provides an exclusive lifestyle that urges families and individuals to live life to the fullest, realize dreams, see more and live richer. For work or leisure, residents and visitors can stay, dine or relax at seven luxury hotels, including Kempinski and The St. Regis, experience boating in Oman’s largest Marina, or awaken their sense of play at an 18hole championship golf course that’s one of the top middle east golf courses and listed in the world’s top 100.

AL HABIB AND CO. LLC

Al Habib has been deep rooted in Oman’s real estate sector since 1978, through activities across the entire spectrum of real estate. The company is known for its role in shaping the urban landscape of Oman and managing a wide portfolio of properties. It offers comprehensive services, including property management, valuation, brokerage, and leasing. Recognised for its expertise, it serves as a one-stop-shop for commercial and residential real estate. Al Habib’s success has been fuelled by the sound reputation it has established over the years. As the largest and only integrated realty company in Oman, offering a complete range of products and services – in property management, valuation, brokering, feasibility studies, contracting and property development – the company has earned the confidence of the business community in Oman.

Al ADRAK GROUP

Al Adrak Group is an award-winning homegrown Omani conglomerate that has risen from humble beginnings to become a leading integrated engineering and construction services company. Al Adrak steadily grew under the vision of its founder, Dr. Thomas Alexander. A civil engineer by profession, his keen foresight, industrial acumen and determination to leave a mark are the traits that continue to be inspirational to all employees. The company delivers end-to-end solutions in civil, mechanical, electrical, and infrastructural engineering, supported by top-tier EPC and project management capabilities. With a legacy spanning over 39 years of delivering landmark projects, Al Adrak Group has established a strong presence across Oman, the UAE, and India. Adanté Realty is the real estate arm of Al Adrak Group. Adanté is committed to delivering premium real estate projects that blend innovative design with deep-rooted values.

AL OSOOL GROUP

Established in 2006, Al Osool Group has evolved into one of the Sultanate of Oman’s most trusted names in integrated real estate and facilities management. Built on a foundation of service excellence, reliability, and innovation, the Group serves an extensive portfolio of government, institutional, and private sector clients across the region. With core verticals spanning property management, leasing, brokerage, facilities management, landscaping, valuations, project marketing, pest control, fire & safety, and renovation & fit-outs, Al Osool delivers comprehensive end-to-end solutions tailored to modern asset-management needs.

Over the years, the Group has expanded through strategic vertical integration, achieving notable milestones including ISO certification, the launch of sanitisation and pest-control services, on-demand maintenance for owners’ associations, and a robust fire & safety division aligned with NFPA and Oman Civil Defence regulations. Strengthening its regional presence, Al Osool has recently executed a landmark partnership with MHD, forming MHD Al Osool Real Estate Development, a visionary collaboration aimed at shaping new-age property development and investment offerings within Oman.

AL RAID GROUP

Al Raid Corporation’s corporate success mirrors that of Oman’s own progress over the past five decades – a developmental march underpinned by sound leadership, farsightedness and ambition. Today, Al Raid is a well-diversified business house with interests in landscaping and irrigation services, civil maintenance, sports construction facilities, kitchen equipment and catering solutions, carpets, antiques, handicrafts, jewellery, designer watches, perfumes and gifts, and the mainstay real estate business. With over 5 Million Sq. ft. of built up projects, the Al Raid group has emerged as a specialist developer of futuristic shopping malls and remarkable leisure destinations, among others, in Oman. With a second generation of entrepreneurs at the helm, Al Raid is now on the threshold of a new phase in its growth. The Group is preparing to pursue the development of a number of large-scale and prestigious real estate and commercial projects. The Al Raid Group has evolved as a developer offering futuristic shopping concepts to go with the social and cultural fabric of the region.

* List is in alphabetical order of first names

ALI SHAIHANI REAL ESTATE

Ali Shaihani Real Estate is a property firm based in Muscat, Oman. The firm primarily focuses on residential and commercial property management within the Muscat Governorate and is associated with the broader business interests of the Ali Shaihani Group, which is a pioneer in the Sultanate of Oman’s food and beverage industry. Established in 1979, with modest beginnings, the Group has since grown in size and stature to earn recognition as the market leader in the sector - in Oman as well as the Gulf region.

HAMPTONS INTERNATIONAL

Hamptons International & Partners LLC was established in Muscat in early 2000 as a first phase in its Gulf network presence and brought to the region a full range of residential, commercial and related professional real estate services. Since establishment, the company has rapidly grown into one of the most successful real estate consultancies in Oman. With over one hundred and forty years of experience in renting and selling property, Hamptons International is a name well known to landlords worldwide and locally for its quality agency, management and consultancy services.

MUSCAT HILLS

Muscat Hills International Developments is a real estate development and investment firm based in Muscat, Oman. Specialising in land acquisition, holding, and construction of mixed-use properties, it also excels in re-zoning to optimize property use. Established in 2012, the firm has developed, owned, and managed over 5 million square feet of office, residential, hotel, and retail space across Oman. Muscat Hills International Developments completed 5 million square feet of real estate projects as of July 30, 2024. Over the past decade, Muscat Hills International Development (MHID) has built a solid track record of delivery, offering residents from all over the world a unique living experience.

MURIYA TOURISM DEVELOPMENT

Muriya Tourism Development stands as one of Oman’s largest and most diversified integrated real estate and tourism developers, playing a pivotal role in shaping the Sultanate’s tourism, real estate, and societal offerings. Over the past 15 years, it has led the creation of large-scale destinations like Jebel Sifah and Hawana Salalah, imbuing them with vibrant communities, exceptional leisure facilities, and world-class hospitality experiences. Through a successful partnership between the internationally acclaimed builder of fully-integrated towns, Orascom Development Holding and Oman Tourism Development Company (OMRAN), the leading executive government arm for tourism development in the Sultanate, Muriya has invested over $750 million.

MAYSAN PROPERTIES

MAYSAN Properties is a leading real estate developer in Oman that delivers elegant, creative developments built on a heritage of trust. The company emphasises sophisticated design and superior build quality, and it is committed to sustainability and dependable delivery across every project. Founded by a group of experienced companies and industry specialists, MAYSAN combines local and international expertise to provide smart, innovative solutions and practical real estate offerings. MAYSAN aims to be recognized as a dependable, reliable partner for those who seek and appreciate high-quality, sustainable real estate.

TOP 20 REAL ESTATE COMPANIES

ONYX REALTY

Onyx Realty, based in Muscat, is a premier real estate developer and consultancy with over 20 years of experience, specializing in residential and commercial projects. Core services include real estate development, investment, sales, branding, and consultancy. Their key projects focus on modern homes and commercial spaces in Duqm and Muscat. The company targets investors seeking residency-by-investment as well as clients looking for premium commercial office spaces. Guided by values of comfort, reliability, and innovation, Onyx Realty aims to create sustainable, high-quality living and working environments.

QATARI DIAR RAS AL HADD DEVELOPMENT COMPANY (QDRH)

Qatari Diar Ras Al Hadd Development Company (QDRH) was established as a result of a partnership between Qatari Diar Real Estate Investment Company (Qatar) and Oman Tourism Development Company (Omran – representing the Government of Oman) by 70-30 per cent in order to develop a multi-use project in Ras Al Hadd. Ras Al Hadd development is located in Sur, 150 Km away from Muscat; a city that is famous for marine industries and life. This eco-themed project delivers a number of unique tourist attractions within the master plan, as well as the heritage village which will celebrate the rich history of Omani culture. The resort and residential developments, as well as the attractions, firmly adhere to the core themes of sustainability and responsible tourism management. In addition, Ras Al Hadd caters to emerging trends in the tourism sector globally, and when complete will provide tourists and visitors with a stunning insight into the unique wildlife in the region, as well as generate broader economic opportunities for the tourism sector in the Sultanate.

QAIS OMANI ESTABLISHMENT

Qais Omani, part of the Muscat Overseas Group, has been one of the earliest leaders in creating value for the Sultanate’s economy through real estate development projects. Since 1974, the company has executed a large portfolio of landmark projects for public and private sector clients. The hallmark of the company is an unwavering commitment to high quality and on-time delivery of projects completed to meet all design specs.

SAVILLS OMAN

Savills Oman, operating since 1985, is a premier international real estate advisor providing comprehensive property services, including consultancy, valuation, agency, and facilities management. Based in Muscat, they offer expert advice on residential, commercial, and mixed-use developments, focusing on market-leading, research-backed, and sustainable solutions.

The company’s consultancy team has unparalleled insight to the changing landscape of Oman’s real estate market and are relied upon to provide advice and guidance on many of the new mixed-use schemes and ITCs, as well as a number of the key infrastructure projects that are underway.

STAY DEVELOPMENT

Stay Development was founded in Oman in 2020 as a visionary national company offering integrated real estate solutions. Stay Development has established itself as a dynamic force in Oman’s property landscape, operating with a philosophy that blends traditional Omani architectural heritage with contemporary market demands. The company’s operations span across key strategic locations in Muscat, Sohar, and emerging coastal developments, where it has cultivated deep relationships with local communities and stakeholders.

* List is in alphabetical order of first names

THE SUSTAINABLE CITY–YITI

Located 30km from central Muscat, The Sustainable City – Yiti is a coastal development overlooking the Oman sea and is a joint venture between Diamond Developers, the masterminds behind The Sustainable City brand, and Oman Tourism Development Company, part of OMRAN Group. Aligned with Oman’s 2040 vision and designed to meet the highest social, environmental and economic sustainability standards, the live-work-thrive city follows the blueprint for low-emissions living, pioneered by The Sustainable City in Dubai. The Sustainable City – Yiti will span approximately one million square meters and accommodate over 10,000 people in villas, townhouses and apartments. The city will feature state-of-the art facilities, urban farming, a central plaza with a mall, school and nursery, a rehabilitation centre for people of determination, an indoor sports complex, access to a wide range of outdoor recreational activities, an equestrian centre, two hotels and 132 luxury serviced apartments.

TOWELL PROPERTY

Towell Property is a premier end-to-end real estate developer and manager, serving as a key pillar of the W.J. Towell & Co. LLC group. They provide comprehensive services in real estate development, leasing, and property/facility management, specialising in high-quality residential, commercial, and industrial warehousing properties.

Towell Property, built Oman’s first comprehensive residential complex characterised by garden courts, villas, apartments and a commercial centre in Madinat Al Sultan Qaboos in the early 1970s which was spread across 3 million sq.ft. This is one of the premium locations in the Sultanate. Towell Property provides Real Estate Solutions in Oman, namely: Residential which offers premium properties at Madinat Qaboos. Commercial with showroom and office space located in Wadi Kabir. Warehouses which offer large spaces for Ambient, chillers and freezers at Wadi Kabir and Rumaise.

TIBIAAN PROPERTIES

Tibiaan Properties is a leading real estate company in Oman, managing a diverse portfolio of apartments, villas, lands, warehouses, and commercialproperties in Muscat. The company specialises in leasing and managing residential and commercial units, including townhouses, beach houses, andcondos in prime locations. It manages over 1,500 units and offers services such as real estate brokerage, property management, valuations, and advisoryservices. With over 15 years of experience, Tibiaan has established a strong local presence and recently expanded into the UAE by opening an office in Dubai. As the real estate industry evolves, Tibiaan aims to leverage advanced marketing and technology to broaden its reach and enhance client service.

WUJHA REAL ESTATE

Wujha Real Estate is a leading integrated developer in Oman, specialising in high-end residential, commercial, and community-focused projects. The company is renowned for blending modern design with green spaces, focusing on creating sustainable and luxurious lifestyles that align with Oman’s Vision 2040. Key developments such as Central 7 and Uptown Muscat, exemplify its commitment to high-yield, future-proof assets. Central 7: Oman’s first Tier 1 Business Hub in Knowledge Oasis Muscat, offering Grade-A office spaces, a smart building ecosystem, and strong ESG commitments. Notable amenities include a rooftop executive lounge. Uptown Muscat: A master-planned, mixed-use community that combines high-spec residential units with retail and leisure spaces. Features smart-home technology and communityoriented amenities.

Wujha goes beyond mere construction, aiming to craft complete, sustainable communities that integrate innovation and green areas. The company believes in creating sustainable, value-driven assets that cater to the needs of modern investors, businesses, and residents, significantly shaping the future of Oman’s real estate landscape.

WEFAAQ PROPERTIES

Wefaaq Properties is an Oman-based real estate development company that specialises in creating high-quality, sustainable, and innovative residential and commercial projects. Additionally, Wefaaq has a sister company called Serene, which is based in Salalah and provides tent rentals for customers looking for a unique outdoor experience in the region’s amazing weather. With a focus on quality and customer satisfaction, Wefaaq Properties is committed to creating exceptional living and working spaces for its customers.

CONSTRUCTION

IN LEADERSHIP MODE

L&T’s business is characterised by professionalism, high standards of corporate governance and sustainability

Larsen & Toubro (L&T) is a US$30 billion Indian multinational enterprise engaged in EPC projects, hi-tech manufacturing, and services. Operating in over 50 countries, L&T (Oman) has built a reputation over eight decades for engineering excellence, customer focus, and consistent delivery of high-quality solutions across critical sectors of the economy. With integrated capabilities spanning the entire “design-to-delivery” spectrum, L&T (Oman) operates in core, high-impact industries, maintaining rigorous standards of professionalism, corporate governance, and sustainability. The company’s manufacturing footprint extends across eight countries in addition to India, supported by a global supply chain and international offices.

LARSEN & TOUBRO (OMAN) LLC

Established over 32 years ago, L&T (Oman) LLC is a leading EPC contractor delivering diversified construction and infrastructure solutions across the Sultanate. The company has successfully executed complex, high-value projects of national importance across multiple sectors. Its portfolio includes hospitals, hotels, townships, airports, commercial and institutional buildings, roads and bridges, transmission lines and grid stations, cement plants, water supply and sewage treatment facilities, power plants, and petcoke storage projects. L&T (Oman)’s brand is synonymous with technical excellence, reliability, and customer focus, demonstrated through the successful delivery of large-scale, missioncritical developments.

QUALITY, SAFETY & GOVERNANCE

L&T (Oman) maintains rigorous quality standards under ISO 9001:2015, ensuring consistent delivery of high-performance projects. Certified to ISO 14001:2015 and ISO 45001:2018, the company upholds strong environmental stewardship and a proactive safety culture focused on prevention and zeroincident performance.

Its ISO/IEC 27001:2022 certified Information Security Management System further reinforces robust protection of data, systems, and digital assets.

COMMITMENT TO NATIONAL DEVELOPMENT

Aligned with Oman’s long-term development vision, L&T (Oman) is deeply committed to nurturing local talent and enhancing In-Country Value (ICV). Through structured training programs, mentoring initiatives, and exposure to advanced construction technologies, the company empowers young Omanis for sustainable professional growth.

By promoting local products and services, engaging SMEs, and strengthening domestic supply chains, L&T (Oman) actively contributes to national economic priorities while building a skilled and motivated workforce.

BUSINESS SEGMENTS:

BUILDINGS & FACTORIES

Delivering comprehensive EPC solutions for airports, hospitals, residential and commercial complexes, hotels, public infrastructure, universities, factories, and data centres.

POWER TRANSMISSION & DISTRIBUTION

A major EPC player providing integrated end-toend solutions for transmission lines, substations, underground cable networks, distribution systems, infrastructure electrification, and solar PV plants — with proven execution capability up to 400 kV for both grid stations and overhead lines.

TRANSPORTATION INFRASTRUCTURE

Specializing in the design and construction of expressways, road dualization projects, complex interchanges, elevated corridors, underpasses, and service roads, supporting the nation’s modern mobility network.

WATER & EFFLUENT TREATMENT

Offering EPC solutions for water transmission systems, water and wastewater treatment plants, associated networks, and industrial infrastructure developments.

MINERALS & METALS

Providing turnkey EPC solutions for ferrous and non-ferrous industries, including iron & steel plants, smelters, and material handling systems.

Carrier & Bahwan Engineering Company:

Powering Comfort and Sustainable Infrastructure in Oman

Built on the legacy of Willis Carrier’s invention of modern air conditioning in 1902, Carrier has grown to become the world’s leading provider of air-conditioning, heating, and refrigeration solutions. With a heritage rooted in innovation, Carrier continues to advance global comfort and energy efficiency through

cutting-edge products and intelligent services designed for today’s evolving needs. Carrier’s comprehensive portfolio spans residential, commercial, and industrial applications, offering advanced solutions that emphasize sustainability, reliability, and lifecycle performance. With a strong focus on energy efficiency, digital connectivity, and environmentally responsible refrigerants,

Carrier plays a pivotal role in supporting global climate goals while delivering superior indoor comfort. Backed by extensive research and development, global manufacturing capabilities, and a worldwide service network, Carrier remains a trusted partner for landmark projects and missioncritical facilities across the globe.

Built on over a century of innovation since Willis Carrier’s invention of modern air conditioning, Carrier today stands at the forefront of global HVAC and refrigeration solutions. In Oman, this legacy is brought to life through Bahwan Engineering Company, whose comprehensive portfolio, technical expertise, and nationwide service capabilities deliver energy-efficient, reliable, and future-ready building services for the Sultanate’s most iconic and mission-critical projects

As the exclusive partner of Carrier in the Sultanate of Oman, Bahwan Engineering Company (BEC) has been instrumental in delivering world-class cooling solutions across the country. Carrier systems have been deployed in several of Oman’s most iconic and prestigious developments, including Muscat International Airport, Salalah Airport, the Royal Opera House Muscat, Majlis Oman, Oman Convention & Exhibition Centre, Mall of Oman, as well as leading hotels, hospitals, ministry buildings, educational institutions, industrial complexes, and bank headquarters—playing a vital role in supporting the nation’s

infrastructure, comfort, and sustainable growth.Through its Mechanical Products Division, Bahwan Engineering Company offers a comprehensive portfolio of products, services, and solutions that span the entire spectrum of the Building Services Industry. As a true one-stop solution provider, BEC delivers an integrated basket of offerings tailored to meet the diverse and evolving requirements of Oman’s dynamic construction and development landscape.

From air-conditioning to heating, ventilation, filtration, building management systems, piping & valves, and air distribution, the

Mechanical Products Division represents more than 40 leading international principals, each a global authority in their respective field. Renowned names such as Carrier, Armstrong, Siemens, SPX (Marley), Nuaire, and ESAB form part of this distinguished portfolio.

A vast majority of the brands represented by the Division enjoy market leadership status in the Sultanate of Oman—a position earned and sustained through the continued trust of an ever-growing clientele and a consistent commitment to quality, reliability, and performance.

AIR CONDITIONING SOLUTIONS

Supported by a highly experienced team of Managers, Engineers, and Executives, the Division provides expert technical guidance to customers, enabling them to arrive at the most efficient and effective solutions for their specific requirements. The sales function is further strengthened by a dedicated service team of trained Engineers and Technicians, many of whom have received specialized training at principals’ manufacturing facilities, ensuring 24/7 service support for all equipment supplied.

To ensure rapid response and uninterrupted operations, the Division maintains a vast inventory of spare parts, housed within a 40,000 m² warehouse and a fully equipped Parts Showroom attached to the office. A specialized spare parts team is dedicated to supporting the lifecycle needs of all equipment supplied, reinforcing the Division’s commitment to long-term customer satisfaction and operational excellence.

l Broad categories of Systems & Accessories include:

l Air Conditioning Equipment

l Ventilation - Industrial and Domestic Extract & Supply Fans

l Building Management Systems and standalone Digital Controls

l Cooling Towers

l Water Circulation Pumps, Pressurization Systems, Deaeration Systems, Expansion Systems, Plate Heat Exchangers.

l Metering Solutions – BTU, Water, GAS and Electricity meters

l Noise and Vibration Control Solutions

l Energy Recovery Equipment

l Specialized Equipment:

l Precision Close Control AC Systems for Server Rooms, Data Centers.

l Pre-Conditioned Air units for Air Craft Coolin

l De-humidification Systems

l Packaged Fire Tube and Water Tube, Steam Boilers and Hot Water Boilers Calorifiers and Solar Heating System

l Air Distribution - Grilles, Diffusers, VAVs, Sound Reduction Units, Volume Control Dampers, Fire Dampers and associated equipment

l Heat Pipes & Dehumidification Equipment Plate Heat Exchangers

l Pipes, Valves & Fittings for Water Services

l Insulation material and accessories

- Rubber, Fibreglass and Polystyrene Foam in boards, Rolls & Pipe Sections, Adhesives & Vapour Barriers

l Pre-insulated ducting systems

l Pre-insulated Piping Systems

l Ducting Material and accessories

l Filters - Aluminium, HEPA, Bag, Panel and other types of Filters

l Welding Products – Equipment and Consumables

l Compressors & Condensing Units for Cold Store Applications

l HVAC Spare Parts and Accessories

l Sealed/Semi-Sealed Compressors

l Refrigerant Gas and Oil

l Coils Cleaning Chemicals

l Fan Motors, Relays, Capacitors, Timers, Contactors, Thermostats etc.

l Filter Dryers and Expansion Valves

l Copper Pipes, Copper Coils, Fittings & Accessories

PERFORMANCE DRIVEN

International Heavy Equipment: Leaders in Heavy Machinery Solutions

The International Heavy Equipment (IHE), part of The Zubair Corporation, one of Oman’s biggest and most diversified business houses, brings more than five decades of market presence, a diverse portfolio of leading heavy and light equipment brands, and a strong nationwide service network. IHE is the sole distributor in the Sultanate of Oman for the finest Volvo Group Trucks - Volvo

from Sweden, Renault Trucks from France and Eicher Trucks & Buses from India. IHE also operates a division called Light and Heavy Equipment that specializes in the supply of a wide range of Construction, Industrial, Engineering and Oil & Gas Equipment manufactured by world-renowned companies. Its vision is to be one step ahead of the competition by means of professionalism, business ethics, customer commitment and honesty.

IHE is committed to meeting and exceeding customers’ needs in the field of trucks, equipment (construction, engineering and industrial) and related spare parts. IHE continuously works on improving the quality of service it delivers locally to Volvo & Renault truck owners in Oman. Customers, located in the interior areas of Oman, are serviced by fully trained personnel and the extensive service network of Zubair Automotive Division already in place.

IHE PRODUCTS INCLUDE

• Truck & Buses

• Construction Equipment

• Concrete Pumps, Ready Mix Batching Plants & All Terrain Cranes

• Industrial & Engineering Equipment

• Oil & Gas - Tools & Equipment

• Automotive Garage - Tools & Equipment

EICHER TRUCKS & BUSES

VE Commercial Vehicles Limited (VECV) is a joint venture between the Volvo Group and Eicher Motors Limited. In operation since July 2008, the company includes the complete range of Eicher branded trucks and buses, VE Powertrain, Eicher’s components and engineering design services businesses. VECV’s vision is to be recognised as the industry leader driving modernisation in commercial transportation in India and the developing world.

VOLVO TRUCKS

Volvo Trucks is one of the largest producers of heavy trucks within the entire truck industry. The company supplies the haulage industry

with complete transportation solutions and customers are supported by over 2300 dealerships and workshops in more than 140 countries. Volvo is dedicated to safety, quality and care for the environment.

Its goal is for every customer to see Volvo as their best business decision. Consistently delivering quality, functionality and innovations beyond their expectations, Volvo Trucks ranges from 18 tons Gross Vehicle Weight to 100 tons Gross combination weight. IHE had sold Volvo trucks to almost all industrial applications in Sultanate of Oman.

VOLVO BUSES

Volvo Buses is a leading manufacturer of buses and coaches. With R&D centres in Europe, Asia and the Americas we reinforce our global offers with local expertise and presence. Throughout our entire organisation we focus on Volvo’s core values: Quality, Safety and Care for the Environment and we express this in the brand promise Driving Quality of Life.

The success in bringing hybrid technology and electric propulsion to the market is evidence our leadership and competence in this field.

Volvo Bus chassis ranges are B7R, B9R. B11Rand B13R with City buses, Intercity buses and special coaches.

RENAULT TRUCKS

Renault Trucks offers commercial vehicle users a large choice of innovative services and adapted to a wide range of transport activities: local delivery, regional distribution, construction, long distance, special applications and defense. Renault Trucks vehicles are sturdy and reliable with low fuel consumption that enables them to deliver greater productivity and control operating costs. Renault Trucks ranges from 13 tons Gross Vehicle Weight to 150 tons Gross combination weight.

A part of the Mobility & Equipment sector of The Zubair Corporation, IHE’s legacy is built on trust, excellence, and an unwavering commitment to delivering world-class trucks and heavy machinery solutions that support the nation’s infrastructure, logistics, and industrial development. Since inception, the company has been committed to providing premium transport and equipment solutions through strategic partnerships with globally recognised brands, ensuring that businesses across various industries have access to cutting-edge, reliable machinery.

The company’s success is built on a foundation of quality, innovation, and customer-centricity. We understand that heavy equipment is the backbone of many sectors, and our approach is tailored to maximising uptime and minimising disruptions, allowing our clients to focus on what matters most— their business success.

IHE’s vision extends beyond business growth; we aim to contribute to the national economy by creating employment opportunities, supporting local industries, and investing in skills development by aligning with Oman’s Vision 2040.

As the company moves forward, it remains dedicated to strengthening its partnerships, expanding offerings, and continuously innovating to serve the evolving needs of our clients. IHE is more than a provider of heavy equipment—it is a trusted partner in progress, ensuring that Oman’s industries have the tools they need to thrive.

CUSTOMER ENGAGEMENT

Irefurbished facility in the Sohar Industrial Area recently.

The event saw a large turnout of customers from SOHAR Industries, as well as representatives from prominent automotive brands including Volvo, Renault, and Eicher. Running from 9 am to 3 pm, the event served as a dynamic platform for engaging interactions and highlighted IHE’s latest innovations in the heavy equipment

features and technologies.

The day kicked off with networking opportunities that allowed attendees to connect and share insights. Guests mingled with the IHE team and representatives from the automotive sector, setting the tone for fruitful discussions. Following this initial engagement, participants took part in detailed conversations focusing on industry trends, challenges, and collaborative

an opportunity for customers to interact with Volvo and IHE representatives, who were on hand to answer any questions and provide expert advice.

Niels Bormans, Group CEO, The Zubair Corporation said, “Over the past few years, we have witnessed significant economic growth, leading to increased demand for trucks and buses. This positive momentum in the market, especially here in Sohar and

across Oman, has us excited for the future. We are seeing tremendous interest in our individual brands. Recently, we relaunched Eicher Buses and Trucks, and the response has been rapid due to their great quality and competitive pricing. Volvo Trucks are also performing well, as customers recognise that purchasing a Volvo means investing in the future, given the long-term benefits in total cost of ownership and excellent resale value. Both small and medium enterprises, as well as larger fleet owners, are increasingly favouring Volvo. Renault Trucks offer a more competitive price point, particularly appealing to larger fleet owners. Each brand has its unique positioning and value proposition, and the outlook is bright, not just for 2026 but beyond.

Sohraab Hasnain, General Manager of IHE and Sayarti, remarked, “The open day event at our refurbished branch in Sohar, showcased the support for key brands like Volvo Trucks and Buses, Renault Trucks, Eicher Trucks and Buses, Putzmeister, Bobcat and so on. Our state-of-the-art facility now features a full-fledged workshop, a comprehensive parts inventory, and a dedicated sales team to meet all our

customers’ needs. We were also honoured to welcome representatives from our principals in Dubai, including Volvo and Renault, along with key accounts who appreciated the new facility.” He expressed heartfelt gratitude to all participants for making the Open House Day a memorable experience, emphasising IHE’s dedication to fostering collaboration within the sector.

As a proud member of The Zubair Corporation, IHE brings over five decades of market expertise and stands as Oman’s sole distributor for the esteemed Volvo, Renault, and Eicher trucks. This longstanding presence in the industry is complemented by a diverse portfolio of heavy and light equipment, all supported by a robust nationwide service network. IHE’s unwavering commitment lies in not only meeting but exceeding customer needs across various sectors, including trucks, construction equipment, and related spare parts. IHE remains devoted to enhancing the quality of service it delivers to its customers, striving to build enduring relationships and deliver cutting-edge solutions in an everevolving market.

The open day event at our refurbished branch in Sohar, showcased the support for key brands like Volvo Trucks and Buses, Renault Trucks, Eicher Trucks and Buses, Putzmeister, Bobcat and so on. Our state-of-the-art facility now features a fullfledged workshop, a comprehensive parts inventory, and a dedicated sales team to meet all our customers’ needs

INTEGRATED SOLUTIONS

Sayarti’s operations reflect global standards of quality and

Sayarti Rental and Leasing Company operating under Zubair Leasing since 1992, is a pioneer in providing top-tier leasing and rental services in Oman. Renowned for its innovative approach to vehicle leasing, Sayarti offers a comprehensive range of services tailored to meet the needs of both individual customers and corporate clients. With a commitment to quality and excellence, Sayarti combines car rental, leasing services, and the sale of qualityapproved used cars under one umbrella. Guided by a unified team and vision, the brand ensures seamless service delivery. As an ISO-certified entity, Sayarti’s operations reflect global standards of quality and innovation, reinforcing its reputation as a leader in the vehicle leasing industry in Oman.

DEMOGRAPHIC SECTOR

• Sayarti (The Zubair Leasing) serves a diverse demographic sector, addressing the unique needs of various market segments

• Spot Rental & Fleet Market Segment: Offering flexible and efficient solutions for short-term and long-term fleet requirements.

• Government Institutions / Ministries: Delivering tailored leasing services to support public sector operations with reliability and efficiency.

• Corporates: Catering to businesses with customised leasing plans for executives and operational needs

SERVICES OFFERED

• Short-term Rentals: Ideal for tourists, residents, and businesses needing vehicles for a few days or weeks.

• Long-term Leasing: Flexible leasing options for individuals and companies seeking cost-effective and hassle-free transportation solutions.

• Corporate Fleet Management: Comprehensive services for managing and maintaining a fleet of vehicles tailored for businesses. Chauffeur Services: Professional drivers for a stress-free ride experience.

• Chauffeur-driven Services: Professional and courteous drivers for a seamless travel experience.

• Airport Transfers: Convenient pick-up and drop-off services.

• Customised Packages: Options for special events, tours, and other unique requirements.

• Affordable Rates: Competitive rates with no hidden costs.

• Wide Selection of Vehicles: A fleet to match diverse preferences and budgets.

• Convenient Locations: Multiple branches across Oman for easy access.

• Commitment to Safety: Comprehensive insurance and regular vehicle inspections.

• 24/7 Customer Support: Dedicated customer care team to assist with your needs anytime

PROMISING PROSPECTS

Oman’s infrastructure and real estate sector offers a blueprint for diversification and sustainable

growth

Oman’s infrastructure industry is experiencing a robust resurgence, positioning itself as a pivotal sector in Oman’s broader economic transformation. The market is projected to expand significantly, with estimates indicating a growth from RO3.81 billion (approximately US$9.9 billion) in 2025 to RO4.40 billion

(approximately US$11.4 billion) by 2029, reflecting a CAGR of 2.8%. The fundamental driver behind this renewed momentum is Oman Vision 2040, the national blueprint for comprehensive economic diversification and sustainable development. This strategic framework directs substantial investments towards critical infrastructure, a burgeoning tourism sector, and an expanding real estate

market, aiming to reduce the nation’s historical reliance on hydrocarbon revenues. Major urban development initiatives, such as Sultan Haitham City and Madinat Al Irfan, are at the forefront of this growth. These projects are complemented by the strategic expansion of Special Economic Zones (SEZs) in key locations like Duqm, Sohar, and Salalah, which are actively attracting significant foreign

and local investments, particularly within the industrial and logistics sectors.

RESIDENTIAL REAL ESTATE

The residential real estate sector, a crucial component of the construction landscape, is anticipated to demonstrate substantial growth, with a projected CAGR of 9.19% from 2025 to 2033. This growth is fueled by increasing population figures, accelerated urbanisation, and a notable rise in the expatriate population. Furthermore, tourism-related construction, particularly Integrated Tourism Complexes (ITCs), is identified as a vital growth area. Oman has ambitious plans to add 5,800 hotel rooms and deliver 62,800 new residential units by 2030, bolstering its tourism capacity and accommodating the anticipated demographic expansion.

The current growth trajectory for Oman’s construction industry, evident from 2025 onwards, should be viewed not merely as a cyclical economic recovery but as a profound

strategic reset and a period of sustained expansion. The industry experienced a decline from 2017 to 2019, followed by a sharp contraction in 2020.

However, the subsequent period, including the 2020-2024 timeframe, showed a negative CAGR, indicating that the immediate aftermath of 2020 remained challenging. The current and projected growth, therefore, represents a deliberate, policy-driven recovery and a planned trajectory.

This commitment is underpinned by the government’s proactive economic diversification efforts and targeted investments. For potential investors, this indicates a higher degree of policy certainty and long-term commitment supporting the market’s growth, potentially mitigating some of the traditional risks associated with economies heavily reliant on oil. It positions Oman as a market where growth is actively engineered and sustained through strategic national initiatives.

Government commitment to funding development projects is evident in recent figures. Public expenditure in Oman increased by 4% year-on-year in Q1 2025, reaching approximately RO2.8 billion (US$7.2 billion). Of this, development expenditure by ministries and civil service units accounted for approximately RO254 million (US$660.6 million) in Q1 2025, signifying a disbursement rate of 28% of the total development allocation for the year. This financial backing underscores the government’s dedication to stimulating construction activity across various sectors.

Oman Vision 2040 stands as the foundational framework guiding the Sultanate’s reforms and investments. Its overarching aim is to achieve comprehensive economic diversification and long-term sustainability, thereby reducing the nation’s historical dependence on hydrocarbon revenues.

A central objective of this Vision is for non-oil sectors to contribute 90% of the economy by 2040. This ambitious target necessitates

INFRASTRUCTURE & REAL ESTATE

significant contributions from burgeoning sectors such as manufacturing, logistics, and tourism, all of which inherently require substantial construction activity.

The government’s strategic focus is resolutely placed on developing robust infrastructure, diversifying the economic base, investing in green energy solutions, and fostering sustainable economic opportunities for the Omani populace.

This strategic alignment ensures that construction is not merely a reactive industry but a proactive enabler of national development goals. Oman’s construction landscape is currently defined by a series of ambitious, large-scale projects that are transforming the country’s urban, industrial, and tourism sectors. These developments are integral to achieving the objectives outlined in Oman Vision 2040, driving economic diversification and creating new opportunities across the Sultanate.

INFRASTRUCTURE PROJECTS

Oman is undertaking substantial infrastructure development to support its economic diversification goals, with significant investments in transportation, energy, and social facilities.

ROAD NETWORK EXPANSION

The Ministry of Transport, Communications and Information Technology (MTCIT) has announced several transformative projects under its 2025 executive plan, with nearly RO989 million allocated to development projects, 93% of which is directed towards enhancing Oman’s road network.

Plans for 2025 include launching 30 major infrastructure projects with a combined value exceeding RO800 million, covering 700 km of road network improvements, logistical connectivity, and tourism infrastructure. Key projects include the dualisation of the RaysutMughsail road to improve access to southern Oman’s coastal areas, and the Sultan Said bin Taimur Road (Adam-Haima-Thumrait) spanning 400 km, to be executed in partnership with an Omani-Saudi coalition. Other dualisation projects include the Izki-Nizwa Road and the Al Kamil Wa al Wafi-Jalan Bani Bu Hassan-Jalan Bani Bu Ali Road, with work on Phase 1 of Rub al Khali Road also commencing.

OMAN RAIL NETWORK

The development of a national railway network is a significant undertaking, aiming to connect major cities like Muscat, Sohar and Duqm, facilitating the movement of both goods and people across the country. The UAE-Oman railway project, named Hafeet Rail, is officially underway, connecting the UAE capital of Abu Dhabi with the Omani port city of Sohar. This 238-kilometer railway will include 60 bridges and 2.5 kilometers of tunnels.

Work on the project began in May 2024, following a shareholder agreement between Hafeet Rail (a company formed by Etihad Rail and Oman Rail) and construction companies. Progress is noted in North Al Batinah, Al Buraimi, and Abu Dhabi, with over one million man-hours clocked.

The project aims for a record-breaking timeline, with passenger trains reaching 200 km/hr. and freight trains 120 km/hr., significantly reducing travel and transport times. This railway project holds the potential to reshape Oman’s economic landscape by improving connectivity, facilitating trade, and promoting economic diversification, ultimately positioning Oman for future growth and prosperity. Plans are also underway to

introduce a metro system in Muscat to alleviate congestion and offer an efficient alternative to road transport. Additionally, the MTCIT announced plans for water taxis.

PORT DEVELOPMENT

Oman is focusing on modernising its port infrastructure through the Omani Ports Development Strategy (2025-2040). This includes signing long-term concession agreements for Khasab, Shinas, and Dhalkut ports, and launching an electronic ‘Ports Community Platform’ to streamline operations and enhance global competitiveness. The expansion of Salalah Port further enhances the Sultanate’s position as a commercial and industrial hub.

ENERGY AND UTILITIES

INFRASTRUCTURE

Oman is making significant strides in green energy infrastructure. The first hydrogen refueling station is set to open at Muscat International Airport in 2025, reinforcing the country’s commitment to low-carbon technologies. Major Green hydrogen projects, such as the Green Energy Oman (GEO) 25GW green hydrogen plant and the HYDROM Green

Hydrogen Blocks (Phase A) in Duqm and Salalah, are under development.

These initiatives align with Oman’s ambitious targets to raise renewable energy’s share in the total electricity mix to 30% by 2030 and 70% by 2040, aiming for net-zero emissions by 2050. Furthermore, a waste-to-energy plant in Barka, South Al Batinah, is being built to convert municipal solid waste into electricity.

SOCIAL INFRASTRUCTURE

Aligned with Oman Vision 2040, affordable housing initiatives are gaining traction in the residential market. The government is committed to providing 62,800 new residential units by 2030, with 5,500 expected in 2025, and over 80,000 new homes projected by 2040 to meet population growth.

The Ministry of Housing and Urban Planning has signed contracts for integrated housing projects across multiple governorates, including 1,050 homes in Wilayat of Amerat and 1,350 in Halban district, equipped with modern utilities.

Additionally, the Projects, Tenders and Local Content Authority (formerly known as Tender

Board) awarded a contract for the design and construction of 20 integrated school buildings across various governorates, valued at US$103 million. Sultan Haitham City alone is planned to include 30 public schools, 9 private schools, 8 health centers, and a 1200-bed hospital.

COMMERCIAL AND INDUSTRIAL PROJECTS

The commercial real estate market in Oman is anticipated to reach US$13.84 billion by 2031, expanding at a CAGR of 8.78% from its 2022 value of US$6.49 billion. This growth is supported by the recovery of oil prices and the completion of new infrastructure like Muscat International Airport.

The Mall of Oman, the Sultanate’s inaugural mega-mall, is a significant commercial development. AECOM provided lead consultancy services for this monumental project, which features 145,000 square meters of retail space, dining outlets, and various lifestyle experiences. The Mall of Oman is LEED Platinum rated, making it the largest building in Oman and the country’s first major retail project to achieve this prestigious accreditation, highlighting its commitment to sustainability.

Oman is actively expanding its industrial sector through new investments and the establishment of industrial cities and free zones. The Public Authority for Special Economic Zones and Free Zones (OPAZ) is leading efforts to establish new industrial cities, collaborating with the Public Establishment for Industrial Estates (Madayn) on projects such as Mahas Industrial City (Musandam) and Al Mudhaibi Industrial City.

These expansions are crucial for attracting foreign direct investment, creating employment opportunities, and enhancing national production capacity. The Duqm Special Economic Zone (SEZAD) has emerged as a major hub, hosting large-scale projects like the Duqm Refinery and crude oil storage facilities. The Sohar Freezone focuses on mining, ceramics, and construction materials manufacturing, while the Salalah Free Zone attracts investments in pharmaceuticals and petrochemicals.

As of late 2024, 183 industrial licenses were issued, with 68% linked to industrial cities, underscoring their role in economic diversification. Oman’s Industrial Strategy 2040 outlines ambitious plans to triple the manufacturing sector’s contribution to GDP by 2024, increase industrial exports to RO25 billion by 2040, and attract RO40 billion in industrial investments, with a focus on leveraging advanced technologies.

The Invest Oman platform plays a crucial role in facilitating and localising highvalue investment projects across Oman’s special economic zones, free zones, and industrial cities. By early 2025, 40 high-value investment projects, valued at approximately RO1.8 billion, had been successfully localized through this platform.

The platform has processed nearly 90-investment proposals worth around RO4.9 billion, covering key sectors such as manufacturing, food security, and healthcare. The platform integrates 22 key government and private sector entities, streamlining investment facilitation under the supervision of the Ministry of Commerce, Industry and Investment Promotion.

Overall, the prospects for Oman’s construction industry look promising with the sector holding the potential to be a major contributor to Oman’s drive for economic diversification.

GLOBAL GATEWAY

Enhanced infrastructure and digitalisation are positioning the country as a key player in global trade

Oman’s ports and logistics sector aims to become a regional powerhouse, driven by three major deep-water ports: Sohar, Duqm, and Salalah. These strategically located hubs are being enhanced with advanced infrastructure, including multimodal connectivity and digitalisation, to support manufacturing, transshipment, and trade. Recent growth reflects increasing ship

and cargo traffic at these key ports.

The Port of Salalah is a major transshipment hub at the crossroads of East-West trade routes, capable of handling some of the world’s largest vessels and ranking among the most efficient container ports globally.

The Port of Sohar serves as an industrial and logistics hub featuring deep-water berths and free zones, supporting Oman’s maritime cargo

and housing the country’s largest oil refinery.

The Port of Duqm is a developing logistics hub on the southeastern coast, positioned near significant energy and manufacturing projects. It is designed to accommodate the largest ships and aims to attract new industries and project cargo.

Oman is investing in multimodal connectivity with projects such as the A1 Batinah

Expressway, a planned rail line to Abu Dhabi, and a new highway with Saudi Arabia to improve logistics and reduce freight costs.

The Oman Logistics Center leads efforts in digitalisation, streamlining customs processes to enhance operational efficiency.

The government is promoting Public-Private Partnerships (PPPs) to develop projects, including terminal management at the Port of Duqm and the redevelopment of Port Sultan Qaboos, which is being transformed into a mixed-use waterfront cruise and leisure destination. In addition to these major ports, Oman has others like Khasab, Mina Qaboos, and the Khazaen Dry Port, which cater to specific operational needs. Port Mina al Fahal

primarily serves the petroleum industry, handling crude oil and refined petroleum products.

Oman’s ports sector recorded strong performance during the first half of 2025, driven by an increase in ship traffic, container handling and cargo volumes. This follows development measures implemented by the Ministry of Transport, Communications and Information Technology as part of a drive to strengthen port infrastructure and enhance future readiness in line with Oman Vision 2040.

The total number of containers at the ports of

Salalah, Sohar and Duqm reached 2,427,195 Twenty-foot Equivalent Units (TEUs) in the first half of 2025, compared to 2,173,508 TEUs in the same period in 2024. This marks a growth of 11.7 per cent and reflects the efficiency of logistics operations and the capacity of the ports to meet growing demand. The Omani ports also recorded an increase in the number of ships.

The total number of vessels received by Omani ports and offshore terminals reached 6,586 in the first half of 2025, compared to 5,930 in the same period in 2024, reflecting growth of 11.1 per cent. Several main ports contributed to this rise, most notably Sultan Qaboos, Shinas and Salalah. Oman is expanding its logistics sector with a series of projects this year worth $260mn to improve its facilities and spur growth.

The Sultanate of Oman Logistics Strategy (SOLS) 2040 seeks to enhance the logistics sector and establish Oman as a global logistics hub, with the goal of increasing logistics employment and elevating the sector’s contribution to 14 per cent of the GDP by 2040. Sohar, Duqm and Salalah ports are an integral part of Oman’s economy. All the ports have attracted global attention and are witnessing remarkable growth in the number of shipping lines.

But far from being mere maritime ports, these ports are integral parts of full-fledged “economic zones” at these three locations. Meanwhile, the Asyad Group continues to enhance its global presence as a leading provider of integrated logistics solutions through tangible achievements and strategic investments. These achievements include increased handling of general and liquid cargo, as well as container volumes, outstanding operational performance in shipping and dry dock services, and a reduction in carbon emissions from its maritime fleet.

The Asyad Group continues to enhance the strategic role of Duqm Port and its connectivity to regional and international markets through an integrated logistics ecosystem that brings together operations at Asyad Container Terminal in Duqm, the global network of Asyad Lines, and Asyad Shipping. This seamless integration boosts the efficiency of cargo flows to and from Oman’s ports and reinforces Duqm’s position as an open gateway to the

PORTS AND LOGISTICS

Indian Ocean and major global trade routes. Asyad Container Terminal at Duqm handled a shipment of Omani fisheries products to ports across South Asia aboard a container vessel operated by Asyad Shipping. The move underscores Duqm’s growing connectivity and Asyad’s role in facilitating Oman’s import–export activity and increasing its global competitiveness. This integrated model enhances schedule reliability and lead times, leveraging Duqm’s strategic location along the Arabian Sea and Indian Ocean routes.

SOHAR Port and Freezone, a destination connecting businesses to the world, has continued to advance on its strategic path

during the first half of 2025, underpinning its critical role in Oman’s economic diversification journey under Oman Vision 2040.

Demonstrating continued outstanding Freezone performance and record award of contracts to local companies, Sohar is cementing its position as a vibrant investment ecosystem transforming trade in Oman through sustainable practices. During this period, SOHAR Port handled 34 million metric tons of cargo. The evolving political situation in the region has influenced cargo volume and throughput, leading to some adjustments compared to previous periods. With significant investments continuing to modernise port

facilities and deploying advanced digital solutions, Sohar is boosting operational capacity, accelerating cargo turnaround, and elevating SOHAR Port and Freezone’s competitiveness on the global stage.

Sohar is securing its continued growth and success for the future. Dredging works were completed at the MARSA LNG jetty, that will be strengthening Sohar’s bunkering and Oman’s strategic energy export capabilities.

SOHAR Freezone secured six new agreements covering more than 92 hectares of land and attracting more than $1.3bn on investments in the first half of this year. These projects span across green manufacturing, energy,

and logistics sectors, reflecting SOHAR’s role in creating synergies within an integrated framework. This reinforces SOHAR’s activeness as a dynamic hub for sustainable, cutting-edge industrial development and enhancing Oman’s regional trade linkage.

Complementing these developments, SOHAR Freezone has launched one of its largest infrastructure expansions to date, developing phase 2 of the Freezone, spanning an additional 670 hectares of land. This expansion will boost cargo capacity, unlock new industrial opportunities, and reinforce SOHAR’s pivotal role as a regional trade and investment hub.

SOHAR Port and Freezone’s dedication to local economic impact is evident with a strong rise in local content indicators. The portion of Local Purchase Orders (LPOs) awarded to Omani companies climbed to 62 per cent, while the value of total LPOs direct to local suppliers surged to 96 per cent, up from 91 per cent in H1 of 2024. This notable advancement underscores SOHAR’s determination to foster local enterprises, empower SMEs, and deepen workforce integration to create lasting socioeconomic benefits.

Alongside its economic and industrial progress, SOHAR Port and Freezone reinforced its commitment to building

Oman’s ports sector recorded strong performance during 2025, driven by an increase in ship traffic, container handling and cargo volumes

resilient communities in the first half through impactful CSR projects. Focused on education, healthcare, and social development, the initiatives benefited more than 3,471 people, reflecting the organisation’s dedication to social responsibility in line with Oman Vision 2040. SOHAR Port and Freezone’s performance in the first half of 2025 reaffirms its seminal role as a catalyst for Oman’s trade, industrial growth, and sustainable development agenda. With steadfast alignment to Oman Vision 2040, SOHAR Port and Freezone continues to build a resilient ecosystem that delivers enduring value to investors and the national economy.

KEY TRENDS –CONSTRUCTION SECTOR

Oman's construction industry is undergoing significant transformation, driven by a confluence of economic, social, and technological trends. These trends are shaping investment patterns, project methodologies, and the overall market landscape

ECONOMIC DIVERSIFICATION AND NON-OIL GROWTH

Oman Vision 2040 is the primary catalyst for the industry’s evolution, fundamentally shifting the nation’s economic focus away from hydrocarbons. This strategic imperative mandates increased investment in non-oil sectors such as tourism, logistics, and manufacturing, all of which are inherently construction-intensive. The government’s commitment to raising the non-oil sector’s contribution to 90% of the economy by 2040 underscores the sustained demand for diverse construction projects.

SUSTAINABILITY AND GREEN BUILDING PRACTICES

There is a growing emphasis on sustainability and eco-friendly building practices within Oman’s construction sector. This includes the adoption of energy-efficient designs, water conservation measures, and the utilization of sustainable and locally sourced materials. Initiatives like Green Build Oman 2024, pioneered by Petroleum Development Oman (PDO), aim to promote sustainable practices and foster an eco-friendlier built environment. The Oman Building Code (OBC) also incorporates provisions for optimizing energy efficiency and promoting sustainable practices.

Despite these efforts, the adoption of

green building practices faces challenges, including resistance to change, the perceived higher costs, the complexity of sustainable technologies, difficulties in sourcing sustainable local materials, and inadequate integration of renewable energy systems. For instance, Oman has a lower number of LEED-certified buildings compared to its GCC neighbors, and a lack of motivation to change, coupled with subsidized electricity, has historically dimmed the urgency for green buildings.

TECHNOLOGICAL ADOPTION

The Omani construction industry is gradually increasing its adoption of advanced technologies such as Building Information Modeling (BIM), smart home technologies, and prefabricated construction methods. BIM is recognized for its potential to improve

efficiency, reduce delays, and enhance project delivery, aligning with Oman Vision 2040’s goals for sustainability and energy efficiency. Smart home technologies are increasingly integrated into luxury residential projects, driven by consumer demand for enhanced convenience, security, and energy efficiency. Prefabrication and modular construction are gaining popularity due to their costeffectiveness, time efficiency, and reduced construction waste.

However, the pace of adoption for these technologies is slower compared to more developed markets, primarily due to high initial implementation costs, a lack of awareness, inadequate training, and a shortage of skilled labor capable of utilizing these new tools. The absence of government incentives and clear regulations/standards for BIM implementation are also identified as critical barriers.

URBANIZATION AND POPULATION GROWTH

Rapid urbanization and a growing population are significant drivers of demand for both residential and commercial spaces across Oman. The expatriate population has seen a sustained increase since 2023, leading to heightened demand for rental accommodation, particularly in Muscat. While tens of thousands of new properties are in the pipeline, experts warn of a potential supply shortfall by 2035, as population growth could outpace the delivery of new residential units, necessitating an estimated 340,000 additional homes to maintain a healthy 90% occupancy rate.

INCREASED FOREIGN INVESTMENT AND PROPERTY OWNERSHIP

Oman has actively relaxed property ownership laws for foreigners and introduced the Golden Visa program, making the real estate market increasingly attractive to international

investors. The Golden Visa, available for investments of RO250,000 (5-year visa) or RO500,000 (10-year visa), grants long-term residency and the right to own residential, commercial, and industrial properties outside Integrated Tourism Complexes (ITCs). ITCs, such as Al Mouj Muscat and Muscat Hills, specifically allow non-Omani nationals freehold property ownership, combining lifestyle appeal with investment potential.

Oman’s policy reforms, particularly the Golden Visa and freehold ownership in ITCs, represent a sophisticated strategy to integrate foreign investment and human capital directly into its economic diversification and urban development goals. The connection is clear: easier ownership combined with residency benefits directly leads to increased foreign investment, particularly in ITCs, which are themselves major construction projects.

This creates a symbiotic relationship where real estate acts as a magnet for both capital and skilled residents. This approach positions

Oman competitively within the GCC for attracting high-net-worth individuals and skilled expatriates. It also ensures that real estate development is not just about building structures but about fostering vibrant, internationally appealing communities that contribute to the broader economic transformation.

MIXED-USE AND LIFESTYLEORIENTED DEVELOPMENTS

There is a discernible trend towards the development of mixed-use projects and lifestyle-oriented communities that offer comprehensive amenities. These developments often integrate residential, commercial, retail, and leisure components, catering to a holistic living experience. Furthermore, there is a growing demand for luxury properties and branded residences, particularly in prime locations like Al Mouj Muscat and Sultan Haitham City, which offer high-end living with scenic views and modern amenities.

TRANSFORMATIVE URBAN DEVELOPMENTS

Oman's real estate landscape is undergoing a profound transformation, driven by a series of ambitious, large-scale projects meticulously aligned with Vision 2040

Oman’s real estate market is undergoing a seminal change, which is being driven by Integrated Tourism Complexes (ITCs). These ITCs are more than just residential projects; they are integrated ecosystems combining residential, hospitality, retail, and leisure components. The provision of freehold ownership for non-Omanis is a significant policy shift, and their competitive pricing and attractive rental yields position them as a compelling investment proposition.

The consistent development and expansion of these complexes underscore their central role in Oman’s economic diversification strategy, particularly in tourism. This synergy between tourism and real estate creates a more resilient market, attracting long-term foreign capital and residents, and fostering a vibrant, multicultural environment. The development of branded residences within ITCs further elevates Oman’s luxury market profile. These developments are designed not only to diversify the economy and attract investment but also to significantly enhance urban living standards across the

Sultanate. Two flagship projects, Sultan Haitham City and Madinat Irfan City, exemplify Oman’s commitment to creating modern, sustainable urban environments.

SULTAN HAITHAM CITY

Inaugurated in 2023, Sultan Haitham City is envisioned as a pioneering model for future cities in Oman. Located in the Seeb governorate, it spans an expansive 14.8 million square meters. The city is meticulously planned to accommodate 100,000 people within 20,000 residential units, offering a diverse mix of detached villas, semidetached villas, townhouses, and apartments. A significant emphasis is placed on green infrastructure, with 2.9 million square meters dedicated to green spaces, including a vast 1.64 million square meter Central Park and Valley. The city will feature 19 integrated neighborhoods, promoting a holistic living experience. Its design principles prioritise affordability, efficiency, inclusivity, health, compactness, robustness, circularity

(through the use of solar and wind energy, and water reuse), accessibility, and safety. The infrastructure within Sultan Haitham City is designed for seamless connectivity and sustainable mobility. It includes new connections to the Muscat Highway and Sultan Qaboos Road, with 23 different access points to ensure quick access and mitigate congestion. A 3.4 km Boulevard is designated for pedestrians and public transportation, complemented by 32 km of main city streets, 150 km of neighborhood streets, and 25 km of dedicated paths for walking and cycling. Beyond residential and green spaces, the city will host comprehensive public amenities, including 25 mosques, 30 public schools, 9 private schools, 8 health centers, and a 1200bed hospital. The development is structured in phases, with construction scheduled from 2024 to 2045, and the initial phase slated for completion by 2030. This strategic, holistic approach to urban development is expected to create highly desirable and resilient communities, driving sustained property value appreciation in these areas. It also positions Oman as a leader in sustainable urbanism within the GCC, attracting environmentally conscious and lifestyle-focused investors and residents.

MADINAT AL IRFAN

Madinat Al Irfan City is another massive urban project conceptualised to serve as a vibrant hub for business and entertainment, seamlessly integrating residential, government services, medical facilities, and commercial centers. Its vision is rooted in economic diversity, efficient public transportation, responsible resource utilisation, and environmental protection, aligning closely with the UN’s Sustainable Development Goals. The project aspires to be a model for long-term resilience and a “net-zero” city. Spanning 624 acres, Madinat

Al Irfan City’s masterplan uniquely incorporates the existing topography, including a 25 km long wadi (riverine valley), which will be retained as a central park and transformed into the world’s largest natural falaj aquaculture system. The design prioritises green spaces for food cultivation, energy-efficient buildings, and circular water management systems. Mobility within the city emphasises humanscaled streets, compact neighborhoods, and mixed-use blocks to encourage walking and significantly reduce car dependency by half. Sustainability features include the specification of solar panels, district cooling, dense urban farms, treated water reuse for irrigation, and smart meters to lower energy and water consumption. These projects are not merely real estate developments; they are comprehensive urban ecosystems designed from the ground up with sustainability, quality of life, and economic diversification at their core. Their long development timelines signal a profound, longterm commitment from the government.

INTEGRATED TOURISM COMPLEXES (ITCS) AS INVESTMENT HUBS

Integrated Tourism Complexes (ITCs) are pivotal to Oman’s real estate expansion, offering a unique opportunity for non-Omani nationals to acquire freehold property. These complexes are strategically priced, offering competitive rates compared to other GCC locations while delivering similar, if not higher, rental yields. For instance, apartment sales in ITCs range from RO 800 to RO 1,100 per square meter, which is notably lower than prices in Dubai and Abu Dhabi. Villas within ITCs are typically priced between RO 750 and RO 1,000 per square meter. Rental returns in ITCs are attractive, ranging from 5 per cent to 8 per cent, or even 5.6 percent to 8.3 percent, positioning them among the highest in the GCC.

AL MOUJ MUSCAT

A premier luxury waterfront destination, Al Mouj Muscat spans a picturesque sevenkilometer coastline, offering an exceptional lifestyle to its residents. This integrated community features a 400-berth marina, an 18-hole golf course with an adjoining country club, four hotels, a comprehensive retail center, and 4,000 housing units, including villas, townhouses, and low-rise condominiums, alongside office buildings.

Residents also benefit from extensive green spaces, walkways, waterways, and a variety of retail and dining facilities. Al Mouj Muscat is an ongoing phased development, continually unveiling new luxury waterfront projects. Its consistent quality and amenities have established it as one of Muscat’s most desirable residential localities.

MUSCAT BAY

Muscat Bay is a stunning resort community nestled within one of Oman’s most scenic bays. The project offers a diverse range of residential options, including 120 apartments, 29 four-bedroom villas, 16 three-bedroom twin villas, and 42 three-bedroom duplexes from the Zaha collection. For those seeking ultimate luxury, there are 33 coastal lagoon villas and 22 Grand Hilltop villas. The community provides an array of amenities, such as a private beach, beach club, diving center, lagoon, swimming pools, sports grounds, spas, wellness centers, and the presence of a Jumeirah Hotel. Many properties are ready for immediate occupancy, with flexible payment plans available for certain villa types.

HAWANA SALALAH

This luxurious, tourism-focused project boasts stunning sea views, high-end villas, and upscale hotel units, making it an ideal choice for investors seeking strong returns from vacation rentals. Hawana Salalah has already successfully delivered and sold over 1,000 units. Recent developments include the launch of “Amazi,” an oceanfront project featuring resort-style amenities and 150 exclusive waterfront villas, with Phase 1 expected to complete by the end of 2027. The community has also delivered “Azure” and “Fanar Views,”

offering serviced keys for short-term rental options. Amenities include a water park, a 171-berth marina, a seven-kilometer stretch of beachfront, shopping centers, a lively promenade with bars and restaurants, a beach club, and five-star hotels like the Juweira Boutique Hotel, Salalah Rotana Resort, and Fanar Hotel & Residences. Hawana Salalah offers a variety of housing options, including apartments, villas, chalets, and townhouses.

JEBEL SIFAH

Located less than an hour’s drive from Muscat, Jebel Sifah is nestled between six kilometers of coastline and the majestic Al Hajar Mountains. This destination has seen over 900 units sold and delivered and features a golf course, a modern marina, and the Sifawy Boutique Hotel. Designed with expansive open spaces, Jebel Sifah emphasises outdoor living. The first phase of its beachfront residences has sold out, with Phase 2 currently under delivery.

THE SUSTAINABLE CITY – YITI (TSC YITI)

Positioned as Oman’s first ‘net-zero’ city, TSC Yiti is a mixed-use mega-tourism project situated 30 kilometers from central Muscat. It is scheduled for completion by 2025, with its first phase, valued at US$900 million, already underway. The project encompasses 1,657 residential units, including 300 villas, 1,225 apartments, and 132 luxury serviced apartments. Key features include a green spine, extensive public spaces, a hotel, a resort, and a school with a sustainabilityfocused curriculum. TSC Yiti aims for 100 percent water recycling and waste diversion, demonstrating a strong commitment to environmental stewardship.

ON A STRONG FOOTING

Oman's real estate sector has demonstrated robust growth and an increasing contribution to the national economy, reflecting a broader positive trajectory across various segments

Oman’s real estate sector is currently experiencing a period of significant dynamism, driven by ambitious national development strategies and a concerted effort towards economic diversification. The Sultanate’s real estate sector has exhibited impressive expansion. By November 2024, total transaction values surged to RO3.13 billion ($8.13 billion), marking a substantial 28.1 percent year-on-year increase. A broader report for 2024 indicates a 29.5 percent growth, reaching $8.6 billion by the end of September. This significant rise in transaction values underscores a buoyant market sentiment and increasing activity.

The real estate sector’s economic footprint is also expanding, with its activities contributing RO820.7 million ($2.1 billion) to Oman’s Gross Domestic Product (GDP) by September 2024. A closer examination of transaction types reveals that mortgage contracts constituted the largest portion of the traded value, amounting to RO2.2 billion. This was followed by sale contracts at RO1 billion and swap contracts at RO13 million.

The predominance of mortgage contracts in the overall transaction value suggests that a substantial portion of the market’s growth is being propelled by financing activities, rather than solely by new sales volume. This indicates a strong underlying confidence from financial institutions and property purchasers in the long-term value and stability of Omani real estate. The increasing reliance on mortgage financing also implies that the market is maturing, with more sophisticated financial instruments being widely adopted for property acquisition.

Furthermore, foreign real estate trading has witnessed a remarkable ascent, surpassing RO77.7 million, representing a 19.4 percent increase between 2023 and 2024. Similarly, real estate trading activities involving Gulf Cooperation Council (GCC) countries in Oman grew by 16.5 percent to RO38.1 million

during the same period. This impressive rise in foreign and GCC investment further reinforces external confidence in the Omani property market. The reliance on mortgage contracts and the growth in foreign investment collectively suggest that interest rate policies and the stability of the banking sector will continue to exert a direct and significant influence on the market’s sustained expansion.

RESIDENTIAL SECTOR PERFORMANCE

The residential real estate sector in Oman is positioned for considerable growth. It is projected to expand at a Compound Annual Growth Rate (CAGR) of 9.19 per cent, increasing from $4.38 billion in 2024 to $6.80 billion by 2029. Another projection indicates a

CAGR of approximately 9.8 percent during the 2024-2030 period. This optimistic outlook is supported by a growing inventory; residential supply increased by 3.6 percent in 2024, with 38,400 new homes delivered, bringing the total housing stock to approximately 1.1 million units. An additional 5,500 units are anticipated to enter the market in 2025. Oman Vision 2040, the national development roadmap, projects a substantial population increase from 5.3 million currently to 7.7 million by 2040. This demographic shift is expected to necessitate the delivery of over 80,000 new homes by 2040 to meet demand. However, some experts caution about a potential long-term supply shortfall, estimating that approximately 340,000 new homes would be required to maintain a sustainable 90 percent occupancy rate. This disparity between projected supply and anticipated demand suggests that sustained price appreciation could occur in high-demand areas over the long term.

Current occupancy rates in the residential sector average 85.2 percent across all units, with villas and Arabic houses maintaining a slightly higher rate of 87.5 per cent compared to apartments at 80.8 percent. Apartment occupancy levels notably rose by 3 percent in 2024. Demand is primarily fueled by a rising expatriate population, particularly for housing options in areas such as Al Mouj, Muscat Hills, and Shatti Al Qurum. Premium residential segments also continue to attract interest. Muscat consistently holds a significant market share, especially within the luxury and highend residential categories.

Residential property prices experienced a 7.3 percent year-on-year increase in Q1 2025, largely driven by a 6.5 percent rise in residential land prices. Within specific property types, apartment prices saw a significant 17 percent increase in May 2025, while villas gained 6.4 percent. At the governorate level, Muscat led price growth with a 17.4 percent increase in residential land values in Q1 2025, followed by Musandam (12.8 percent), North Al-Batinah (7.3 percent), and South Al-Batinah (6.1 percent). However, some governorates, including Al Buraimi and Al Dhahirah, experienced declines. This uneven growth across regions indicates that investment strategies must be highly localised, identifying specific growth drivers in each area. The government’s focus on integrated housing projects across multiple governorates aims to

distribute development and address existing infrastructure gaps, which is a direct response to these regional disparities.

COMMERCIAL AND HOSPITALITY SECTOR

The commercial real estate market in Oman is also poised for expansion, with an estimated value of $6.49 billion in 2022 and an anticipation to reach $13.84 billion by 2031, expanding at an 8.78 percent CAGR. Another projection estimates the market to reach $3.47 billion by 2033 with a 5.64 percent CAGR. The growth in this sector is largely attributed to the recovery of oil prices, the completion of the new Muscat International Airport, and the successful operation of the Oman Convention and Exhibition Centre (OCEC), which has boosted business tourism.

The retail environment is undergoing a transformation, gradually shifting from standalone retail establishments towards larger format malls, reflecting changing consumer preferences. While the overall commercial market demonstrates growth, there is a clear adaptation occurring within its sub-sectors. Traditional office and retail spaces face challenges due to the growing emphasis on remote work and online purchasing. However, this shift has simultaneously spurred increased demand for warehouses and distribution centers, particularly those supporting e-commerce fulfillment. This dynamic highlights the necessity for developers to adapt their strategies, focusing on experiential retail, flexible office solutions, and robust logistics infrastructure. The hospitality industry in Oman is experiencing a steady uptick in activity.

The country plans to add nearly 6,000 hotel rooms through 35 new hotels and resorts by 2030, which will increase the existing hotel capacity by approximately 25 per cent. More than half of these new rooms are slated for the upper-upscale and luxury categories, signaling a strategic move towards high-end tourism offerings. Oman’s three- to five-star hotel sector reported strong performance in the first four months of 2025, with revenues rising 17.3 percent year-on-year to RO109.213 million by April. Guest numbers climbed 8.6 percent, and occupancy rates increased by 14.4 percent to 61.1 percent. International visitors are a key driver of this growth, with significant increases in guest numbers from Oceania, Africa, Europe, and the Americas. This robust growth in hospitality and logistics directly supports Oman Vision 2040’s emphasis on economic diversification beyond oil, positioning the Sultanate as a global trade and tourism hub.

KEY REGIONAL MARKET HIGHLIGHTS

Real estate development and performance in Oman exhibit distinct patterns across its various regions, reflecting diverse economic drivers and investment focus. Muscat Governorate, while maintaining its position as the leading trading sector, recorded a modest growth of 1.7 percent with RO1.2 billion in total value by September 2024. However, Muscat demonstrated strong leadership in residential land price growth, with a significant 17.4 percent increase in Q1 2025. Muscat is also anticipated to dominate the commercial real estate market.

Beyond the capital, other governorates

have shown remarkable growth. South Al Batinah Governorate experienced the highest advancement in real estate trading, reaching RO 1.2 billion with an impressive 244.4 percent growth. North Al Batinah Governorate also saw substantial growth, with RO 877 million in trading value, a 122.8 percent increase.

Al Dakhiliyah, North Al Sharqiyah, and Dhofar governorates experienced significant growth, with trading values surging by 119.2 percent, 101.6 percent, and 41.1 percent respectively. Musandam and Al Buraimi governorates also showed positive growth patterns, while Al Wusta experienced a moderate expansion of 10.6 percent. In contrast, South Al Sharqiyah and Al Dhahirah Governorates registered declines of 9.7 percent and 10.7 percent respectively.

This highly varied performance across Oman’s governorates underscores the need for highly localised investment strategies. Areas like Al Duqm continue to attract industrial and logistics investments, leveraging its strategic location and the ongoing expansion of the Duqm Special Economic Zone. Sohar maintains steady demand for warehousing and manufacturing spaces, while Salalah’s real estate sector thrives on tourism-related developments. This uneven development highlights the critical importance of government-led infrastructure projects and economic zone expansions in specific regions to stimulate balanced growth across the Sultanate, aligning with the broader objectives of Oman Vision 2040 to diversify economic hubs.

The commercial real estate market in Oman is also poised for expansion, with an estimated value of $6.49 billion in 2022 and an anticipation to reach $13.84 billion by 2031, expanding at an 8.78 percent CAGR. Another projection estimates the market to reach $3.47 billion by 2033 with a 5.64 percent CAGR. The growth in this sector is largely attributed to the recovery of oil prices, the completion of the new Muscat International Airport, and the successful operation of the Oman Convention and Exhibition Centre (OCEC), which has boosted business tourism