Vision Oman 2040 – how does the state's long-term strategy affect real estate prices?

In recent years, Oman has increasingly appeared on the radar of foreign investors. One of the main reasons for this growing interest is the country's long-term development strategy – Vision Oman 2040. It is a comprehensive economic transformation plan designed to turn Oman into a modern, diversified economy and one of the most important investment hubs in the region.

For the real estate market, this strategy is of immense importance. Infrastructure investments, the development of tourism, and the creation of new urban projects are driving an increasing demand for apartments and investment properties in many regions of the country.

How is Vision Oman 2040 affecting property prices, and which locations are likely to gain the most in the coming years?

What is Vision Oman 2040?

Vision Oman 2040 is a long-term national development strategy implemented since 2021. Its main goal is to diversify the economy and reduce dependence on the oil sector.

The plan assumes the development of new economic sectors, such as:

• tourism,
• logistics,
• industry,
• technology and innovation.

The strategy is based on several key pillars, including improving the quality of life for residents, developing infrastructure, and increasing the country's attractiveness to foreign investors.

For the real estate market, this primarily means the creation of new cities, residential projects, and tourist complexes.

Why does Vision 2040 impact the real estate market?

National development strategies often set the direction for infrastructure and economic investments. In the case of Oman, Vision 2040 acts as a map that indicates where cities and new investment projects will develop.

Infrastructure development

As part of the strategy, numerous investments are being made in:

• roads and highways,
• seaports,
• airports,
• new residential districts.

Expanding infrastructure increases the accessibility of regions and raises their investment attractiveness. In practice, this means that as infrastructure develops, property prices also rise.

Growing importance of tourism

One of the most important sectors being developed under Vision 2040 is tourism.

Oman plans to significantly increase the number of tourists visiting the country over the next dozen years or so. Consequently, new projects are emerging, such as:

• coastal resorts,
• hotels and marinas,
• vacation apartment complexes.

This, in turn, increases the demand for investment properties, especially in coastal locations.

Influx of foreign investors

The Vision 2040 strategy also aims to increase the country's investment attractiveness through more transparent regulations and by opening the real estate market to foreign investors.

In many tourism projects, foreigners can purchase properties on a freehold basis in so-called Integrated Tourism Complexes (ITC). Such projects offer apartments and villas with access to resort infrastructure, often directly on the beach.

Tourism as a driver of property price growth

The development of tourism has a direct impact on the real estate market. As the number of visitors grows, so does the demand for:

• vacation apartments,
• short-term rental properties,
• holiday homes in resorts.

In Oman, more and more projects are being built specifically for investors buying properties for tourist rentals.

In many cases, apartment owners can take advantage of rental management programs offered by resort operators.

Regions of Oman that may gain the most

Vision Oman 2040 points to several key areas of economic and tourism development. It is in these regions that the greatest increase in property value can be expected.

Muscat – the center of investment and business

The capital of Oman remains the most important real estate market in the country. This is where infrastructure and business investments are concentrated.

The most dynamically developing coastal projects include:

• Al Mouj Muscat – a prestigious complex with a marina and a golf course,
• Muscat Bay – a luxury location with a private beach,
• Yiti and AIDA – new resort projects with high growth potential.

Thanks to its developed infrastructure and high demand for rentals, Muscat is considered the most stable real estate market in Oman.

Salalah – the tourist pearl of the south

The second most important real estate market in the country is Salalah, the capital of the Dhofar region.

The city attracts tourists especially during the Khareef season, when the monsoon brings a cooler climate and green landscapes.

The most important coastal investment in the region is:

Hawana Salalah – a large resort complex with a marina, hotels, and vacation apartments.

The development of tourism makes Salalah an attractive location for investors interested in short-term rentals.

Duqm – the new city of the future

Duqm is one of Oman's most ambitious infrastructure undertakings. The city is being developed as a major industrial and logistics hub.

Projects being built here include:

• a seaport,
• an economic zone,
• industrial and logistics infrastructure.

Although the real estate market in Duqm is still in the early stages of development, in the long term, this region could become one of the country's most important economic centers.

Population growth and the demand for housing

Vision Oman 2040 also assumes the demographic development of the country. As the population grows, the demand for new apartments and residential estates increases.

Forecasts indicate that over the next dozen years or so, Oman will need hundreds of thousands of new homes to meet the growing demand.

This is an additional factor that may support the rise in property prices in the future.

How does Vision 2040 affect property prices?

The national development strategy influences the real estate market in several ways.

The most important mechanisms for value growth are:

• development of transport and urban infrastructure,
• increase in the number of tourists,
• creation of new coastal projects,
• influx of foreign investors,
• development of new residential districts.

In practice, this means that properties in locations covered by Vision 2040 investments have the greatest potential for value growth.

Why is Vision Oman 2040 important for investors?

For foreign investors, the Vision 2040 strategy is an important signal of stability and long-term planning for the country's development.

It shows:

• where new infrastructure will be built,
• which regions will develop the fastest,
• which economic sectors will be supported by the government.

Thanks to this, investors can make decisions based on long-term trends rather than just the short-term market situation.

Looking for property in Oman with growth potential?

Choosing the right location is key to the success of a real estate investment. When analyzing the Omani market, it is worth paying attention to projects developed under Vision Oman 2040.

We help our clients:

• find the most promising investment locations,
• select properties in coastal and resort projects,
• safely navigate the entire process of purchasing property in Oman.

If you want to find out which projects may gain the most from the implementation of Vision Oman 2040, contact us – we will show you current offers and the best investment opportunities.