Oman Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2023-2027

Oman Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2023-2027


Summary

Following six years of consecutive contractions since 2017, GlobalData expects Oman’s construction industry to recover and expand by 1.2% in real terms in 2023 and 3.3% in 2024, supported by a rising foreign investment, coupled with the government’s continued focus on infrastructure development and investments in renewable energy sector in line with its objective to attain carbon neutrality by 2050. According to the National Center for Statistical Information (NCSI), the total foreign direct investment (FDI) in the construction industry grew by 23.2 % year on year (YoY) in the first half of 2023. In September 2023, the Oman Tender Board awarded tender worth OMR488 million ($1.3 billion) for various development projects including design and construction work for national library, national theatre, Oman cultural complex and national archive building.

The Omani construction industry is expected to register annual growth of 4.2% from 2025 to 2027, supported by investments in economic zones, renewable energy, manufacturing, and tourism projects under the Vision 2040 project. Under the Oman Vision 2040 Plan, the government plan to attract 11 million visitors annually by 2040. To achieve this target and bolster the tourism industry, OMR20 billion ($51 billion) will be allocated by Ministry of Heritage and Tourism to tourism industry by 2040. Moreover, as part of this vision, the government aims to increase the number of industrial cities and related manufacturing zones in the country from 12 in 2023 to 16 by 2040. In addition, investments in the hydrogen projects will play a significant role in supporting the growth of the Omani construction industry over the forecast period as the government is targeting to achieve net zero emissions by 2050, and produce one million tons of renewable hydrogen by 2030, up to 3.75 million tonnes by 2040, and 8.5 million tonnes by 2050. Over the long term, the construction industry’s growth will also be supported by public and private sector investment in the housing and infrastructure sector. The government plans to spend OMR2.3 billion ($6 billion) to expand and modernize the country’s airports over the next seven years, as well as to build 10 new seaports by 2023.

The report provides detailed market analysis, information and insights into the Omani construction industry, including -
  • The Omani construction industry's growth prospects by market, project type and construction activity
  • Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Omani construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Scope

This report provides a comprehensive analysis of the construction industry in Oman. It provides -
  • Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Oman, featuring details of key growth drivers.
  • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
  • Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
  • Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
  • Identify and evaluate market opportunities using GlobalData's standardized valuation and forecasting methodologies.
  • Assess market growth potential at a micro-level with over 600 time-series data forecasts.
  • Understand the latest industry and market trends.
  • Formulate and validate strategy using GlobalData's critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.


1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 Risk Profile
4 Construction Outlook
4.1 All Construction
Outlook
Latest news and developments
Construction Projects Momentum Index
4.2 Commercial Construction
Outlook
Project analytics
Latest news and developments
4.3 Industrial Construction
Outlook
Project analytics
Latest news and developments
4.4 Infrastructure Construction
Outlook
Project analytics
Latest news and developments
4.5 Energy and Utilities Construction
Outlook
Project analytics
Latest news and developments
4.6 Institutional Construction
Outlook
Project analytics
Latest news and developments
4.7 Residential Construction
Outlook
Project analytics
Latest news and developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
7.1 What is this Report About?
7.2 Definitions
7.3 CRI Methodology
8 About GlobalData
9 Contact Us
List of Tables
Table 1: Construction Industry Key Data
Table 2: Oman, Key Economic Indicators
Table 3: Oman, Commercial Construction Output by Project Type (Real % Change), 2018–27
Table 4: Oman, Top Commercial Construction Projects by Value
Table 5: Oman, Industrial Construction Output by Project Type (Real % Change), 2018–27
Table 6: Oman, Top Industrial Construction Projects by Value
Table 7: Oman, Infrastructure Construction Output by Project Type (Real % Change), 2018–27
Table 8: Oman, Top Infrastructure Construction Projects by Value
Table 9: Oman, Energy and Utilities Construction Output by Project Type (Real % Change), 2018–27
Table 10: Oman, Top Energy and Utilities Construction Projects by Value
Table 11: Oman, Institutional Construction Output by Project Type (Real % Change), 2018–27
Table 12: Oman, Top Institutional Construction Projects by Value
Table 13: Oman, Residential Construction Output by Project Type (Real % Change), 2018–27
Table 14: Oman, Top Residential Construction Projects by Value
Table 15: Oman, Key Contractors
Table 16: Oman, Key Consultants
Table 17: Oman, Construction Output Value (Real, $ Million)
Table 18: Oman, Construction Output Value (Nominal, OMR Million)
Table 19: GlobalData Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List of Figures
Figure 1: Middle East and North Africa, Construction Output (Real % Change), 2021–27
Figure 2: Oman, Construction Output by Sector (Real % Change), 2021–23 and 2024–27
Figure 3: Oman, Risk Summary
Figure 4: Oman, Risk Regional Comparison
Figure 5: Oman, Construction Output Value (Real, $ Million, 2017 Prices and Exchange Rate), 2018–27
Figure 6: Oman, Construction Output Value, by Sector (Real, $ Million), 2018–27
Figure 7: Oman, Construction Value Add, Constant Prices (in OMR million)
Figure 8: Oman, Credit Issued for Construction Industry (OMR Billion), % Share of Total Loan
Figure 10: Oman, Construction Projects Momentum Index
Figure 11: Middle East and North Africa, Construction Projects Momentum Index
Figure 12: Oman, Commercial Construction Output by Project Type (Real, $ Million), 2018–27
Figure 13: Oman, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 14: Oman, Wholesale and Retail Trade Value Add, Constant Prices (OMR Million)
Figure 15: Oman, Accommodation and food services Value Add, Constant Prices
Figure 16: Oman, Credit Issued for Wholesale and Retail Trade Sector (OMR Billion), % Share of Total Loan
Figure 17: Oman, Industrial Construction Output by Project Type (Real, $ Million), 2018–27
Figure 18: Oman, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 19: Oman, Manufacturing Value Add, Constant Prices (OMR million)
Figure 20: Oman, Mining and Quarrying Value Add, Constant Prices (OMR Million)
Figure 21: Oman, Credit Issued to the Manufacturing and Mining and Quarrying Sectors (OMR Billion)
Figure 22: Oman, Total foreign direct investment in the manufacturing sector declines in Q2 2023
Figure 23: Oman, Infrastructure Construction Output by Project Type (Real, $ Million), 2018–27
Figure 24: Oman, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 25: Oman, Transport & Storage Value Add, Constant Prices (OMR million)
Figure 26: Oman, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2018–27
Figure 27: Oman, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 28: Oman, Electricity & Water Supply; Sewerage, Waste Management and Remediation Value Add, Constant Prices (OMR million)
Figure 29: Oman, Total foreign direct investment in the oil and gas sector continues to rise in Q2 2023
Figure 30: Oman, Institutional Construction Output by Project Type (Real, $ Million), 2018–27
Figure 31: Oman, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 32: Oman, Residential Construction Output by Project Type (Real, $ Million), 2018–27
Figure 33: Oman, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 34: Oman, Real Estate Value Add, Constant Prices (OMR million)
Figure 35: Oman, Total foreign direct investment in the real estate industry continues to decline in Q2 2023
Figure 36: Oman, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 37: Oman, Headquarters of Key Consultants (% of Total Project Pipeline)

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