Oman Observer reported that sales in the residential property market in Oman continue to be fluid with both buyers and owners playing a wait and watch game.

However, with new projected plans for housing scheduled to go online in 2012, real estate players are cautiously optimistic about the growth. At the same time, the leasing market is showing the most interesting shift in balance between tenant and owners expectations, with many more property variables such as design, style, location, age and size, as well as superior facilities affecting pricing.

The integrated tourism complex market is the increased choice that will become available to investors as previously delayed developments are being re master planned and tendered and will come to the market in the next couple of years. Lessons have been learnt over the economic cycle and there will still be great opportunities.

Mr Hilal Ali al Sulaimani GM of Hilal Properties said that "The strength of Oman's real estate stems mainly from both proactive government foresight and the nature of the market here."

From the perspective of a real estate developer, who is seeking a safe investment option, Oman has all the potential to make a magnificent and sustainable destination.

He added that "Ever since Oman formulated land ownership rules, the real estate scene in the Sultanate received a real fillip. Omani freehold has been making waves and is on the threshold of making a new yardstick for property development in the region the freehold way."

With greater certainty on the development of the new industrial city at Duqm, increased clarity from the government as to plans for the development of the industrial and logistics sectors and continued investment in transport and power infrastructure will help to drive forward the development of the industrial and logistics sector.

(Sourced from www.omanobserver.om)