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Mazaya Monthly Real Estate Report -
Week 1 - November 2016
In Oman, the report said that current
expansionplansarepart of anambitious
strategy aimed at diversifying the
economy in-line with the 2040 Vision.
According to the report, the government
is planning to entrust the logistics
sector with a major role in boosting
GDP, enhancing the private sector’s
involvement in investment projects and
increasing job opportunities in all fields.
In Bahrain, the report stated that the
Kingdom has initiated a package
of mega projects aimed at creating
convenient investment opportunities
for businessmen from all over the
world. Highlighting the current financial
and investment momentum in the
Kingdom, the report noted that Bahrain
already boasts a resilient investment
environmentandeconomicfreedomthat
bolsters the logistics sector. The report
expects the Bahraini logistics sector’s
contribution to the GDP to exceed 7%
over the coming few years, thanks to
the incentives offered to entrepreneurs,
including
business-attracting
laws, measures and legislations.
The report noted that the lion’s share of
the Omani government’s expenditure
goes to logistics projects, including
transportation and port construction
enterprises, with the ultimate goal of
developing the country’s infrastructure
in-line with the best international criteria.
It added that Oman is relentlessly
seeking to utilise all available investment
opportunities and expand logistics
and tourist services in order to survive
any oil sector challenges in the future.
Furthermore, the UAE logistics market
is expected to grow to $27 billion with an
annual growth rate of 4%, said the report,
adding that the country boasts all potential
conducive factors to attract logistics
services providers, customs clearance
agencies and shipping companies. The
report also highlighted the advanced
ranking of the UAE in terms of business
incentives that ensurea foreign investment
edge and better access to world markets.