Oman Economic Review – August 2018

2222 August 2018

development project will include the
development of the World Trade Centre,
a shopping mall, a residential complex
and a hotel, as it aims to provide
integrated services in the publishing,
media and advertising, engineering,
technology, information services and
many more to meet all the needs of
business owners and entrepreneurs.

What is your future outlook? And
what are the challenges facing
Oman’s real estate and retail sectors?
We have a very positive outlook for the
future as Al Jarwani Group is always
working according to its strategic
plans and striving to contribute to
building a better future. We continue to
develop and implement distinctive and
unique projects which will support the
country’s development and achieve a
better lifestyle, as well as contribute to
the economic and social prosperity of
the Sultanate.

The natural, social, political and
economic components which Oman

enjoys, strengthen its position as an

attractive destination for businesses

and investors.

We believe that the future of the real

estate investment in the Sultanate

is very promising, because of the

importance of this sector as one of

the most valuable contributors to the

national economy. The requirements

of economic diversification require

the development of various real estate

projects to meet the expected growth

of the targeted economic sectors. This

necessity is faced with some challenges

that are represented in the requirement

of achieving a healthy balance between

supply and demand, in addition to the

importance of setting the laws and

regulations that encourage the process

of real estate investment in all its forms.

The retail sector in Oman is witnessing

a steady growth due to its vitality

and resilience. The retail sector has

successfully attracted businesses and

entrepreneurs because of the natural

and real growth rates of this sector

which are associated with many factors.

One of these factors is the natural

population growth, more than 4 per

cent annually, which is considered as

one of the highest rates in the world.

Oman’s strategic location, the stable

economy climate, the integrated legal

system and the advanced infrastructure

are some of the other factors. The free

trade and open market policy have also

helped the growth and development of

the retail sector in Oman.

Having said that, it is only fair to say

that the retail sector still faces a number

of challenges, such as the requirement

of developing and designing this sector

so that it can meet the tastes and

behaviour of shoppers in a modern

fashion, adapted to the developments

and changes in the region and in the

world. This can be done through the

effective usage and application of

modern technology in how this sector

operates and caters to different business

needs and requirements.

INTERVIEW