Oman strengthens real estate rules to boost investor confidence

Oman is overhauling its real estate sector with a comprehensive new legal and regulatory framework. The Ministry of Housing and Urban Planning aims to improve market efficiency, bolster investor confidence, and safeguard buyers' rights, aligning with the Sultanate's urban development goals.

“

Trust is the foundation of a strong real estate sector and that compliance with regulations is essential for protecting the interests of developers, investors and buyers alike.

The centerpiece of these reforms is the Real Estate Regulation Law. This legislation unifies the legal structure for key activities such as property development, off-plan sales, brokerage, valuation, and the management of escrow accounts. The goal is to foster a more competitive, transparent, and sustainable market, creating a stable environment attractive to both local and foreign investment.

“

developers must complete all licensing and registration procedures before advertising, promoting or selling any real estate project.

Nasser Khamis Al Siyabi, Director General of Real Estate Development at the Ministry, emphasized that trust is fundamental to a robust real estate sector. He stated that strict adherence to regulations is crucial for protecting the interests of all parties involved: developers, investors, and buyers. Developers must now secure all necessary licenses and registrations before they can advertise or sell any real estate project. This ensures that developments meet legal, technical, and financial standards, assuring buyers that projects are viable and adhere to approved regulatory requirements.

“

This ensures that projects meet legal, technical and financial requirements and gives buyers confidence that developments are ready for implementation under approved regulatory standards.

Al Siyabi further explained that the Real Estate Development Services Center is streamlining licensing procedures by collaborating with government agencies. This initiative aims to simplify and expedite the process, enhancing the investment experience while maintaining regulatory compliance. The licensing process involves obtaining a development activity license, a project license (including opening an escrow account), and an advertising permit. These steps are designed to ensure project readiness, enhance credibility, and facilitate marketing within an organized investment framework that protects all stakeholders.

“

The regulations governing real estate development help ensure that only projects meeting all legal requirements are marketed, contributing to greater market stability and increased investor confidence.