About Oman

About Oman

“...we reaffirm our resolve to continue to work for more progress in the field of development and construction, prosperity, security and stability; with God’s help.”


- His Majesty Sultan Qaboos Bin Said
Annual Session of The Council of Oman 1st Oct 2005


Historically Oman’s economy was based on fisheries, agriculture and traditional trade. The discovery of oil resulted in a shift to a petroleum based economy where oil has been the driving force. Limited oil resources have  however fuelled the need to reduce dependence on oil and encourage expansion into other industries. The government is therefore adopting a dynamic diversification strategy by increasing the contribution of other sectors like tourism and real estate to the national economy.


Oman’s construction industry showed a steady growth curve by challenging the adverse conditions of 2008- 2009. This can largely be attributed to the country’s economy which is both stable and progressive due to the policies  and government spending on large infrastructure projects.The government has also emphasised on various incentives for individuals and organizations. Foreigners are now permitted to own real estate, for residential or  investment purposes in areas designated as Integrated Tourism Complexes (ITC) by the authorities. This has generated more interest from tourists, investors and expatriates alike.


With its real estate and investment expertise, GLOREI aims to support the country’s development and progress in these fields.