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Sunday, May 25, 2025
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Oman woos Kuwaiti businessmen for investment

‘Gulf citizens treated same as Omani citizens’

publish time

24/05/2025

publish time

24/05/2025

Oman woos Kuwaiti businessmen for investment
A group photo of the guests who attended the meeting

KUWAIT CITY, May 24: “We welcome the ideas proposed by Kuwaiti businessmen. God willing, there will be a direct convergence of the picture. We will work with our brothers from other ministries to develop a comprehensive presentation to have a deeper impact and reach all our brothers,” says Omani Minister of Housing and Urban Planning Dr. Khalfan Al-Shuaili during his conversation with businessmen on the sidelines of the meeting of the Ministers of Housing and Urban Planning of the Gulf Cooperation Council (GCC) countries recently. This meeting was aimed at reviewing investment opportunities and real estate activities as part of promoting the qualitative opportunities available within the framework of Oman Vision 2040.

Al-Shuaili said the Omani Ministry of Housing is a partner in implementing these projects and invited the businessmen to visit Muscat to discuss details of the projects. He explained the philosophy of ownership in Oman and the misconceptions surrounding it, pointing out that ownership for Gulf citizens in Oman is carried out according to unified and clear policies among the Gulf countries, and that Gulf citizens are treated the same as Omani citizens. He disclosed that the projects presented during the meeting included new freehold sites for non-Omanis of all nationalities, indicating that the Real Estate Registry and Real Estate Development in the ministry is concerned with this aspect. “Given its rich heritage and housing development efforts, Oman does not suffer from a housing problem. Omani house ownership currently stands at approximately 90 percent. The existing projects aim to create a new, contemporary environment in locations that lack services,” he added. He stated that the program is qualitative, not quantitative, and there is no rush to launch large-scale projects, as each project has its own story and location.

He cited the 2018 law prohibiting ownership for non-Omanis during the COVID-19 pandemic. “This law included some border sites and islands, and limited ownership on Masirah Island, despite the Kuwaitis’ interest in it. Ownership permits were limited to sites close to royal palaces and military and security sites. There is flexibility in areas close to old neighborhoods and alleys,” he clarified. He emphasized that since assuming office in 2020, he has been tasked with implementing this law and he implemented it on time, appreciating the understanding of Gulf brothers for some of the resulting discontent.

Ownership
He said the ownership ban law only affects five percent of Oman’s total land area, as ownership remains available in 95 percent of the land, including Salalah, Muscat and Sohar. He indicated that confusion exists in a very limited number of plots, not exceeding 1,000, located within a narrow border strip. He added that the Madinat Sultan Haitham project has witnessed ownership by more than 35 nationalities, with flexible and speedy procedures. “Once a residential unit is purchased from an off-plan real estate developer, the buyer receives approval in less than five days, demonstrating the ease of the process. He confirmed that 70 percent of the land supposedly owned by Omanis has been completed, with the remainder being very small. “Over the past two years, this issue has been addressed innovatively.

Gulf citizens who own a company registered in Oman can own property in the commercial, industrial and tourism sectors; even in areas covered by the law, as long as this is done through a company registered with the Ministry of Commerce and Industry. This has allowed developers and investors to preserve their properties,” he disclosed. On the projects, Al-Shuaili cited Al-Jabal Al- Aali project; stating that he is not permitted to own property there due to the privacy of the Green Mountain and some of the historical events that took place there during the 1950s and 1960s. “However, the project is now witnessing a new wave of ownership, with a strong focus on citizens of Gulf countries,” he confirmed.

On the other hand, Dean of Kuwaiti Journalism and Editor-in-Chief of Arab Times and Al- Seyassah newspapers Ahmed Al-Jarallah said that in 1970, he met with Sultan Qaboos in Oman, when there were no hotels. He lived at the time in a camp belonging to an Italian oil company. He added that Sultan Qaboos told him about his dreams for the coming period, including the opera project, and praised the country, its beauty and its tranquility, emphasizing that it is a country devoid of noise. Addressing the Minister of Housing, he stated, “Allow me to say that the marketing is bad, and the prevailing impression is that ownership is prohibited. There are Kuwaitis who owned property, and then they were asked to leave.” He stressed that Oman is a beautiful country in terms of its environment and location, and if Gulf citizens do not come, foreigners will. “What matters is marketing,” he asserted.

By Fares Ghaleb
Al-Seyassah/Arab Times Staff