A drop in the expatriate population in Oman is likely to put further pressure on the sultanate’s residential real estate sector, according to the latest report from Savills.
Oman government
Expatriate residents
Why Oman’s expat exodus is placing extra strain on real estate sector
There are around 320,000 fewer expatriates in Oman today compared to 2016, according to the latest report from Savills
foreign direct investment
Oman offers up residency incentive to foreign investors
Cash-strapped sultanate has been hit hard by the Covid-19 crisis and the associated fall in oil prices and is looking for ways to boost its state revenues and drive investment in the country
Coronavirus Oman
Oman orders evening curfew as part of continued efforts to combat Covid-19
Supreme Committee has banned the movement of people and vehicles, as well as the closure of all public places and commercial activities from 8pm to 4am, starting from Sunday
budget deficit
Oman’s first quarter deficit rises to 751.4 million rials
Public revenue was 1.82 billion rials at the end of March, down 30.5 percent compared with a year ago
bond issuance
Oman state oil firm to sell assets to fund $7.9 billion spending
State-owned OQ will shift focus from reinvesting in the company to achieving funding self-sufficiency
Oman Cement Company
Oman is said to explore cement stake sale in privatisation drive
The sultanate is speaking to advisers about selling its nearly 54 percent holding in the company
energy business
Oman is said to study strategic options for state energy firm OQ
The Omani government has been speaking with potential advisers as it considers alternatives for OQ, which could also include selling a stake in the business or one of its subsidiaries
Oman economy
Skills shortage in Oman as country prepares VAT implementation, PwC finds
Survey from PwC revealed just 26% of businesses have fully completed the requirements needed to be ready for implementation on April 16
Oman economy
Oman is finding way out of its budget distress without a bailout
The sultanate has signaled a resolve to improve fiscal discipline with plans to start taxing incomes of wealthy individuals in 2022
Energy Development Oman
Oman starts new energy company as it seeks to leverage oil block
New government-owned Omani energy company is established as it seeks to use its largest oil block to raise debt
Arab Gulf States Institute of Washington
Economy remains priority for Oman amid oil, virus pressures, says former US Ambassador
Marc J Sievers says that the appointment of a Crown Prince is a shift towards a more traditional form of governing in the region
Oman Crown Prince Sayyid Dhi Yazan bin Haitham
Oman’s appointment of first Crown Prince will boost investor confidence, say experts
Sultan Haitham Bin Tariq Al Said’s decree creating a ‘stable mechanism for the transfer of power’ has been welcomed by analysts
Coronavirus Pandemic
Oman to reopen borders with strict coronavirus guidelines
Sultanate has announced that a PCR test must be taken 72 hours before flying and again on arrival
Expat employees in Oman
How will things change under proposed labour law reforms in Oman?
PwC’s Jeanine Daou looks at Oman’s job market plans and how they may attract more foreign talent
government subsidies
Oman to start removing utility subsidies from January 2021
Subsidies for the electricity and water sector are about $1.95 billion, according to the 2020 budget
Energy Development Oman
Oman starts new energy company as it seeks to leverage oil block
Company will “undertake hydrocarbon exploration and production operations” and can borrow money “in any manner,” according to government gazette