The Omani Ministry of Housing Showcases Major Real Estate Achievements and Initiatives

The real estate sector in the Sultanate of Oman yesterday witnessed a comprehensive review of the most prominent achievements and initiatives by the Ministry of Housing and Urban Planning. The review focused on qualitative developments in residential and urban projects, as well as the digital transformation of services, confirming the momentum of growth in the Omani real estate market.

Highlights of Yesterday

• Launching the "Sorouh Projects" and "Future Cities" initiatives with a cost of 11.8 million Omani riyals, including 263 residential units in Sorouh and 36 in Sultan Haitham City.
• Implementing 411 residential units in cooperation with charitable organizations at a cost exceeding 13 million Omani riyals.
• The "Sorouh" initiative provided more than 360 job opportunities for Omanis and involved 145 small and medium enterprises.
• Sale of 1,700 residential units in Sultan Haitham City projects.
• Enabling more than 90,000 beneficiaries to choose their lands and residential units through the "Choose Your Land" platform from 2021-2025.
• Investments in "Sorouh Projects" reached 600 million Omani riyals over an area exceeding 6 million square meters.
• Sales rates exceeded 90% in the first phase of social housing projects.
• Achieving an 86% digital transformation rate in the Ministry of Housing’s services, reducing transaction times from months to minutes.

Details

In a detailed review of its latest work and projects, the Ministry of Housing and Urban Planning revealed the scale of achievements and ambitious initiatives aimed at developing the residential and urban sector in the Sultanate. Among the most prominent initiatives are "Sorouh Projects" and "Future Cities," which contributed to providing hundreds of new residential units and investment opportunities, in addition to social housing programs that supported thousands of families. The active role of small and medium enterprises in these projects was also emphasized, reflecting a trend towards strengthening the local economy and creating sustainable job opportunities.

On the digital transformation front, the ministry showed remarkable progress by achieving an 86% digitization rate of its services, leading to a significant acceleration in transaction completion and reducing the time required from months to just a few minutes, which enhances beneficiary satisfaction and improves the efficiency of real estate services.

What Does This Mean for the Investor or Buyer?

These achievements indicate stability and strong growth in the Omani real estate market, driven by clear government support and comprehensive development initiatives. For investors, the launch of new investment opportunities in major projects such as "Sorouh Projects" and "Future Cities" reflects the presence of an attractive and stimulating environment for growth, with promising returns demonstrated by high sales rates. The involvement of small and medium enterprises also opens up prospects for local cooperation.

For buyers, the ministry's continued provision of residential units through various initiatives and social housing programs, in addition to simplifying procedures and digitizing services, makes the process of acquiring real estate much easier and smoother. Confidence in the market is increasing with these indicators, providing a favorable environment for making purchase or investment decisions in real estate in the Sultanate.

Conclusion

The comprehensive review presented by the Ministry of Housing and Urban Planning reflects a firm commitment to strengthening the real estate sector in the Sultanate of Oman and providing innovative and sustainable solutions for both citizens and investors. These developments herald a prosperous future for the real estate market, with ongoing efforts to achieve Oman Vision 2040.

Imtilak Global facilitates the process of freehold property ownership in Oman by providing a wide range of comprehensive and distinguished services for real estate investors. The company ensures complete follow-up of freehold procedures, including facilitating legal and bureaucratic transactions.

Editing: Imtilak Global©