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Oman Property Investment For Sale | Guides, Economy and Oman Hotspots

 

"A forward thinking Sultanate moving away from reliance on oil."

 

The Sultanate of Oman is located in a strategically important position at the mouth of the Persian Gulf and during the 20th Century was heavily influenced by the UK although it was never formally part of the British Empire or a British Protectorate.  Ruled by an absolute monarch, the Sultan of Oman, Oman has transformed itself over the last 40 years from a backwards Arab state and the has made great efforts to move away from reliance on its dwindling oil reserves.

The Sultanate has introduced a development plan that centres on diversification, industrialization and privatization to reduce the reliance on oil to a mere 9% by 2020 and create much needed jobs for the growing population. Along with encouraging SME’s and promoting inward investment in Oman, the “Vision 2020” plan also opened up the real estate market to foreigners.  Since 2006 none Omanis have been given the right to own real estate for residential and investment purposes but only in ITCs (Integrated Tourism Complexes).  These vast, deluxe developments however are extremely well built and much in demand due to their setting, design and facilities.

Expatriate owners automatically get residency rights for both themselves and their immediate families if they buy property in Oman and the country boasts good healthcare and education systems, reliable public transport and good quality infrastructure.
 

Country Guide

Geography

Situated in Southwest Asia, Oman is on the southeast coast of the Arabian Peninsula bordering the United Arab Emirates, Yemen and Saudi Arabia. With stunning beaches, a desert landscape and lush countryside Oman faces the Indian Ocean with several miles of coastline. The central terrain of the country is desert plain and mountainous areas are found in the north and south.

Government

Oman has been a sultanate since 1744,. The Sultan is responsible for the modernization of Oman and the country enjoys a modern healthcare and education system. The government has ensured that it keeps tight bonds with neighboring Arab countries and continues to make relationships with western countries. The legal age to vote in Oman is 21 but members of the military and security forces are not allowed to vote.

Language

Arabic is the official language of Oman although English is widely spoken by most people throughout the country. Other languages such as Baluchi, Urdu and some Indian dialects are spoken in some parts of the country. Swahili is also spoken by some Omani descents from Africa.

Standard of Living

The standard of living in Oman is relatively good as the country boasts good healthcare and education systems, reliable public transport and good quality infrastructure. Tourism is building up which means more western style facilities are available throughout the country. Expatiates have to use private medical care although this is usually advised as the facilities are better and there are English speaking staff.

 

Country Economy

Oman currently has a growing economy which in past years has been mainly based on oil reserves but now has started to focus on other industries such as increasing tourism and exporting natural gas. 

The Sultanate has introduced a development plan that centres on diversification, industrialization and privatization to reduce the reliance on oil to a mere 9% by 2020 and create much needed jobs for the growing population. This programme actively encourages SME’s and promotes inward investment in Oman.

Oman's two biggest import and export partners are China and South Korea. The country's main imports include machinery and transport equipment and manufactured goods. The country's main exports are petroleum and re-exports.

Key industries:

Petroleum, re-exports, fish, metals, textiles and tourism.

 

Hotspots

Muscat

Muscat is the capital and largest city of Oman. The city was once three towns which overtime have grown together to form the city. Having undergone much urbanisation and infrastructural development the city is dominated by the trade industry, however there are several activities on offer to visitors in Muscat such as scuba diving, rock climbing, night safaris and Dolphin spotting. The Grande mosque is situated in the heart of the city and is the third largest mosque in the world. The mosque is open for non-Muslim tourists to explore which gives an understanding to the religion and culture of the Arabian people. There are many traditional markets and modern shopping malls in and around the city to buy souvenirs and gifts.

Bahla

Bahla is a small ancient town in Oman which has become a known World Heritage site. The remains of Bahla fort is situated above the village and has not been restored over the years in an attempt to keep it as original as possible. The town is guarded by a seven mile wall which was constructed years ago to use as a defensive mechanism. The town is particularly known for its pottery making and much of this is sold at pottery souks which take place in the town centre.

Jebel Akhdar

Also known as 'The green mountain' in Arabic, the Jebel Akhdar is part of the Al Hajar mountain range which is situated inland along the Gulf of Oman coast. As one of the most popular tourist destinations in Oman, the mountain range is comprised of lush green valleys that accommodate the small peaceful mountain villages of Bani Habib and Sharijah. The mountains are one of the most scenic places in the country and with a warm climate all year round and friendly local people, tourism is booming.

Salalah

Among the southern region of Oman lies the fertile city of Salalah, it experiences four months of monsoon rain (Khareef) a year making the land rich with plants, trees, waterfalls and streams. As Salalah is situated along the coast it has several unspoilt beaches which during the summer months offer scuba diving, canoeing, sailing and jet skiing. The city is also known for the Al-Balid ruins which years ago were the city of Zafar. The city port is used for industry and trade and is a good entry point to Africa, the Middle East and India.

Sohar

One of the most popular tourist destinations in Oman, Sohar is a coastal city which is most famously known as the birth place of Sinbad the Sailor and has a strong sailing and fishing history. The Sohar fort which dates back to around 1st century AD is one of the most famous landmarks of the city.

Nizwa

Located in the heart of Oman and only an hour and a half away from Muscat, Nizwa is a city which was once the capital of Oman in ancient times and is renowned for its historical monuments, handicrafts, agricultural produce and gold and silver. The city is another location in Oman that holds a World Heritage site in the form of the Falaj Daris, an ancient water management system that is still in use today. Nizwa is a good place to start if you want to visit the mountain ranges in the northern part of the country. The city has a prime location of forming a crossroad link between Muscat and the lower regions of Dhofar.

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