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Associated Press

Oman Construction Industry Report 2024: Output Grew by 3.3%, Supported by FDI in Manufacturing, and Government Investment into Transport Infrastructure and Tourism - Forecast to 2028

The 'Oman Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (H2 2024)' report has been added to offering. Construction industry in Oman grew by 3.3% in real terms in 2024, as the industry is supported by rising foreign direct investment (FDI), especially in the manufacturing sector, as well as government investment into transport infrastructure and the tourism sector. According to the National Center for Statistical Information (NCSI), total FDI in the manufacturing sector rose by 41% year-on-year (YoY) in the first half of 2024, following an annual decline in 6.4% in 2023. The analyst then forecasts the Omani construction industry to expand at an annual average growth rate of 4.2% from 2025 to 2028. Growth in the country will be supported by rising government investments into renewable energy and transport infrastructure, in addition to the housing sector, all as part of the Oman Vision 2040 Plan. As part of the scheme, the Omani government is targeting to raise the share of renewable energy in the total electricity mix to 30% by 2030 and 70% by 2040, before reaching net zero emissions by 2050. While, in October 2024, the Ministry of Transport, Communications, and Information Technology (MTCIT) alongside the Tender Board's General Secretariat, announced that seven transport infrastructure projects totalling over OMR119 million ($309.5 million) had been awarded, all as part of the program. Construction works on all the projects is scheduled to be completed by the end of 2027 Scope Historical (2019-2023) and forecast (2024-2028) 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 our 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 business strategies using the analyst's critical and actionable insight Assess business risks, including cost, regulatory and competitive pressures Evaluate competitive risk and success factors Key Topics Covered: 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 For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. View source version on CONTACT: Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 KEYWORD: OMAN MIDDLE EAST INDUSTRY KEYWORD: CONSTRUCTION & PROPERTY OTHER CONSTRUCTION & PROPERTY SOURCE: Research and Markets Copyright Business Wire 2025. PUB: 02/06/2025 09:17 AM/DISC: 02/06/2025 09:17 AM