Muscat: The third Oman Real Estate Expo (OREX) is coming to the capital Muscat next year at the Oman Convention and Exhibition Centre.
The event will run from March 30 until April 1, 2020.
The announcement was made by the Omanexpo, the organizer of OREX, and Oman Real Estate Association (ORA), Oman’s real estate regulating body, along with the Real Estate Development Directorate of the Ministry of Housing on Wednesday.
“OREX will continue to be an appealing platform for local and international investors as it highlights the growing potential of Oman’s real estate market and provides a compact marketplace for sellers and buyers to meet and leverage business opportunities,” Tarek Ali, Exhibition Director, Omanexpo said.
“Despite the recent oil downturn, the property sector is slowly recovering. This will help in further stimulating the market by showcasing what the local developers have to offer. This includes affordable housing, offering long-term instalment plans and freehold opportunities for expatriates,” Ali said.
ORA Chairman, Hasan Juma Al Lawati said: “Currently, there is a spate of development projects—residential, commercial, mixed-use and integrated tourism complexes happening all over Oman. Developments such as including Naseem A ’Sabah (US$1.04 billion), Sur Gate Project (US$311.7 million), Quriyat ITC Project (US$1 billion), Diyar Ras Al Hadd Resort, Omagine Project, Al Nakheel, and Hawana Lagoons Salalah have led to expansion of the housing market.
“In 2018, the government has announced its decision to open the doors to real estate investment for expatriates living in Oman. The Capital Market Authority also announced its approval to introduce Real Estate Investment Trust funds in Oman,” he said.