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    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Egypt’s food industries contribute 24.5% of GDP

    Egypt’s food industries contribute 24.5% of GDP

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    $36mln contract for construction of Duqm fisheries complex

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    Ministry signs agreement to support Oman’s honey industry

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    Local, Italian companies partner up to establish food retail chain in Egypt

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    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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      Profits at top Saudi banks jump 17.6% in Q1

      Profits at top Saudi banks jump 17.6% in Q1

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      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

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      Egypt’s Trade minister, Hungarian ambassador discuss economic relations

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      Oman Construction Equipment Industry to 2028

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      $36mln contract for construction of Duqm fisheries complex

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      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

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      Madayn working on major Oman industrial city projects

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      Foundation stone laid for new 700-bed hospital is Salalah, Oman

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      Iraq set to award new Faw Port deals

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        Suez Canal expects US$3.5 billion in revenues in H1

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        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

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        Fitch revises Saudi Aramco’s outlook to positive from stable

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        Investments in renewables in Egypt reach LE6 bn: Official

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        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

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          Coronavirus: UAE conducting human trials for Covid-19 vaccine

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          Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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          COVID-19 vaccine could be available by autumn: Oxford University

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          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

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          Saudi to be among world’s big leisure tourism hubs by 2030

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          Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Egypt’s food industries contribute 24.5% of GDP

          Egypt’s food industries contribute 24.5% of GDP

          $36mln contract for construction of Duqm fisheries complex

          $36mln contract for construction of Duqm fisheries complex

          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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            Profits at top Saudi banks jump 17.6% in Q1

            Profits at top Saudi banks jump 17.6% in Q1

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            New study reveals that UAE is most competitive economy in the Arab world

            New study reveals that UAE is most competitive economy in the Arab world

            Top 10 listed companies in the Middle East

            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

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            • CES 2017
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            Oman Construction Equipment Industry to 2028

            Oman Construction Equipment Industry to 2028

            $36mln contract for construction of Duqm fisheries complex

            $36mln contract for construction of Duqm fisheries complex

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            Madayn working on major Oman industrial city projects

            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

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            • Energy
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              Suez Canal expects US$3.5 billion in revenues in H1

              Suez Canal expects US$3.5 billion in revenues in H1

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Trending Tags

              • Healthcare
                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                GSK to develop plant-based COVID-19 vaccine with Canada’s Medicago

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                UAE sends medical aid to Iraq to fight COVID-19

                UAE sends medical aid to Iraq to fight COVID-19

                UAE launches phase III trial of inactivated Covid vaccine

                UAE launches phase III trial of inactivated Covid vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                COVID-19 vaccine could be available by autumn: Oxford University

              • Hospitality
                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              Oman’s retail sector expected to rally

              Oxford Business Group

              June 22, 2015
              in Business, Economy
              0

              While weaker growth and uncertainty have cast a shadow over Oman’s retail sector during the past 18 months, activity is expected to pick up in the medium term on the back of a rapid rise in leasable space, supported by increased government spending.

              Last year, GDP in Oman rose by 4.6%, according to data issued by the National Centre for Statistics and Information in mid-April. However, the retail and wholesale segment expanded by just 2% year-on-year compared with the overall services sector notching up 13.1% growth, almost three times the rate of GDP.  

              Boosting confidence
              Slower growth in retail is seen by some as a sign of caution amongst consumers. Ratings agency Fitch warned in April that a continued downturn in oil prices could hit business and consumer confidence in some parts of the Gulf region, citing Oman as one of the states most at risk from the negative impact of lower energy revenues. The trend could reduce both government spending and capital inflows into the sultanate’s economy, Fitch added.

              The government will be hoping that its 2015 budget, issued at the beginning of the year, will help the retail sector to improve its performance by boosting consumer confidence. The budget sets out a 4.5% increase in state spending, including wage rises for public servants and higher investment in infrastructure.

              A string of new projects earmarked for the sector in the coming years also bodes well for the industry’s longer-term prospects. According to research conducted by real estate consultancy JLL, the next five years will see more than 760,000 sq meters of gross leasable retail space added to existing shopping areas in Muscat on the back of major investment.

              City centered
              However, while retail space is set to increase in the capital city, other regions of the country remain under-served, according to Andrew Williamson, JLL’s head of retail for the MENA region. Speaking at a property conference in Muscat in May, Williamson told participants that shopping space development was in short supply outside the capital, particularly high-quality sites. The city of Sohar is also attracting more interest from developers due to its growth as an industrial and logistics hub.

              One retailer that has given the Omani market a vote of confidence is hypermarket chain LuLu. The firm, which currently operates 12 outlets in the sultanate, announced plans in early May to increase its total number of stores to 17 over the next year and a half. “We are committed to extending our footprint, with plans to open five new stores in the next 18 months,” LuLu’s managing director Yusuff Ali said when attending the opening of a shopping center in the Military Commercial Complex near Muscat.

              Meeting new demand
              The retail sector will also benefit from a drive by the state to ensure more pre-planning is put into new housing developments, including auxiliary community services.

              Talal bin Sulaiman al Rahbi, the deputy secretary-general of the Supreme Council for Planning, told a real estate conference in May that the traditional practice of building houses on parcels of land allocated by the state has led to developments being scattered, leading to difficulties in providing utilities and other services.

              Al Rahbi added that under Oman’s ninth five-year plan, which is set to come into force in 2016, new housing would take the form of residential complexes that would be rolled out across the governorates and make them easier to serve.

              A cluster approach to housing will also open the door to community-level retail developments to meet the needs of residents. Demand for such centers is likely to gain momentum, as officials look to reduce the Ministry of Housing’s waiting list through the organized township policy under Oman’s next five-year plan.
              Oxford Business Group
              22 June

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