Oman to add thousands of homes and hotel rooms as real estate and tourism sectors grow
For prospective buyers, renters, or investors across the UAE and GCC, Oman’s property pipeline offers something increasingly rare in the region: affordable housing, stable returns, and long-term investment potential.
Dubai: If you’re keeping an eye on regional property markets, Oman may be worth a closer look. The Sultanate is quietly laying the groundwork for one of the Gulf’s most ambitious real estate and tourism transformations, with 62,800 new homes and 5,800 hotel rooms planned by 2030, according to a new report by real estate consultancy Cavendish Maxwell.
For prospective buyers, renters, or investors across the UAE and GCC, Oman’s property pipeline offers something increasingly rare in the region: affordable housing, stable returns, and long-term investment potential, particularly through its Integrated Tourism Complexes (ITCs), which allow foreigners to own freehold property in designated areas.
According to Cavendish Maxwell, 5,500 new residential units are expected to be delivered in 2025 alone, building on a steady 3.6% increase in supply in 2024. But despite these numbers, rising population forecasts mean supply could still fall short in the years ahead. Oman’s population is expected to grow from 5.3 million today to 7.7 million by 2040—creating strong, sustained demand for housing, particularly in urban hubs like Muscat and Dhofar.
“Oman is undergoing a meaningful transformation,” said Khalil Al Zadjali, Head of Oman at Cavendish Maxwell. “It’s not just about building homes, but aligning with Vision 2040’s goals of creating a knowledge-based, diversified economy. Real estate and tourism are central to that.”
Why the interest in ITCs?
For many non-Omani buyers, Integrated Tourism Complexes are the gateway to property ownership in the country. ITCs allow freehold ownership by foreigners, offer competitive pricing compared to the rest of the GCC, and deliver rental yields of 5% to 8%, rivalling returns in Dubai and Abu Dhabi.
Typical ITC apartment prices range from 800 to 1,100 OMR/sq metre—a significant value compared to Dubai (1,600–2,100 OMR) or Doha (1,000–1,300 OMR). Villas in ITCs also come in lower, with prices starting at 750 OMR/sq metre.
DATE . May/23/2025