The Oman construction market is experiencing significant growth, driven by ambitious government initiatives and a surge in infrastructure development. This post will delve into the key trends shaping this dynamic sector, exploring its growth potential and examining the factors influencing its trajectory. Furthermore, we will introduce a powerful real-time construction data analysis tool that empowers you to gain deeper insights into the Oman construction market. This tool will not only provide valuable data on market trends but also enable you to visualise and track construction projects currently underway in Oman. Let’s start the discussion.
Key Trends
The Omani economy traditionally relied heavily on oil revenue. However, the government is now actively pursuing economic diversification. They are investing in hydrocarbon and tourism industries to make their economic diversification strategy successful. They are also promoting privatisation and local manufacturing to reduce the oil and gas industry’s contribution to the national economy by 9%.
The government has created a plan of 135 projects to support the economic goals of Oman Vision 2040. It aims to encourage private sector businesses to collaborate with international companies and boost the economy. Additionally, the Omani government is developing Duqm as a major industrial and business hub. It is likely to attract both domestic and international companies to set up their businesses in this special economic zone.
So far, we have discussed the current state of the Omani economy and highlighted the key trends shaping its future. Next, we will explore how these trends impact the Omani construction sector.
Growth Potential and Drivers
The size of Oman’s construction market was $19.6 billion in 2023. The Average Annual Growth Rate (AAGR) of this market is 4% during 2025-2028. Another report claims that Oman’s construction sector is likely to grow at a Compound Annual Growth Rate (CAGR) of 3.30% from 2024 to 2029 and reach USD 8.02 billion by the end of 2029. The growth in the construction sector is expected to be supported by investments in logistics, green hydrogen, and mining industries. The Future Fund Oman scheme, which was designed to attract FDI, is expected to contribute to the country’s construction sector boom.
We will find more triggers in Oman’s construction growth potential if we take a close look at the key trends. For instance, let’s consider the heavy investment in Oman’s tourism sector. Tourism directly fuels the construction sector by necessitating infrastructure development. It includes building new hotels, resorts, transportation facilities, and other amenities to cater to tourists. Additionally, the influx of tourists often stimulates demand for residential and commercial properties, further driving construction activity. As a result, experts predict significant growth in Oman’s construction sector, fuelled by the tourism boom.
The Omani government is also promoting the manufacturing sector, which will stimulate construction by creating a demand for industrial facilities. The more companies set up their business in Oman, the more it will fuel construction growth as businesses require offices, stores, warehouses, and factories to run their operations.
Overall, it is fair to conclude that numerous factors are poised to sustain Oman’s construction sector boom. This growth will create opportunities for real estate contractors, suppliers, consultants, and other service providers to grow their businesses. Using an Oman construction market analysis tool, they can track major construction projects in the nation and access the contact details of the key decision-makers. It will help them gain a competitive advantage and win more projects. We will discuss one such tool in the next section.
Tool for Analysing Oman’s Construction Market
PROJECT INTELL is a versatile data analysis platform that you can use for Oman construction market analysis. Using this tool, you can track over 1,109 construction projects in Oman worth over $173 billion (estimated). Subscribe to PROJECT INTELL and get access to the latest construction project data in Oman.