Muscat: Oman Design & Build Week began at Oman Convention and Exhibition Centre on Monday under the auspices of Sultan Salim al Habsi, Minister of Finance.
The three-day event is organised by Oman Real Estate Association in cooperation with the Ministry of Housing and Urban Planning. It includes the Big Show and Oman Real Estate Expo.
The event is dedicated to the building, construction, and real estate industry, and seeks to build partnerships and grow business in an in-person environment.
Dr Khalfan Said al Shuaili, Minister of Housing and Urban Planning said that the National Urban Development Strategy is an urban guide for development in the Sultanate of Oman for the next twenty years, with objectives based on development and sustainability. The strategy, said Dr Khalfan, takes into account the geographical, natural and societal diversity of the various governorates and regions in the Sultanate of Oman.
He added that the Sultanate of Oman attaches a great importance to real estate development, as it comes among the five most influential sectors of the global economy. The minister pointed out that real estate development as an industry provides nearly 120 other industries such as contracting, marketing, facility maintenance and management, and other areas.
The value of real estate trading in the Sultanate of Oman grew by 4 per cent in 2021 to reach RO 2.5 billion compared to the year 2020, pointed out Dr Khalfan, who explained that efforts being exerted to make this sector more influential in achieving economic development and urban development alike.
As many as 9,000 visitors are expected to attend this event, with the participation of (13) countries displaying (2,500) products in the field of real estate development, building and construction. The week aims to enhance communication with industry owners and manufacturers, integration with suppliers and distributors. It serves as a platform for manufacturers to display building materials and provide solutions to architects, consultants, contractors, distributors, purchasing managers and decision makers.
The real estate development conference includes more than 30 speakers and working papers through 5 working sessions.
The week’s activities included the inauguration of Hai Al Naseem neighborhood project in the Wilayat of Barka and the commencement of sales operations, as 55 per cent of its first phase has been completed.
Hai Al Naseem neighborhood is the first project of the Sorouh initiative for integrated residential neighborhoods implemented by the Ministry of Housing and Urban Planning with an estimated area of 355,000 square metres. The project aims to provide various housing alternatives for citizens eligible to obtain residential lands.