Summary
The industry is set to contract sharply in 2020, plummeting by 10.3%, as the industry struggles with the challenges presented by the outbreak of Coronavirus (COVID-19), low oil prices and the impact of sovereign credit rating downgrades. Further compounding the downside risks to the industry’s outlook, the Omani government has had to rationalize spending, given its weak fiscal position. Public sector spending cuts will be the government’s priority in 2021, continuing throughout the medium term (2022-2024), as outlined in the MTFP. The fiscal plan is intended to reduce public debt, increase the state’s reserves, and diversify revenue away from oil.
Oman already entered the COVID-19 pandemic crisis in a weaker fiscal position than its richer Gulf Cooperation Council (GCC) neighbours, who have more room to manoeuvre in the short term with cash reserves and access to capital markets. Given the limited prospects for the government to boost investment in infrastructure and other investment projects, recovery in the construction sector is expected to be very slow. GlobalData currently expects the construction industry to fall further in 2021, with output contracting by 5.8%.
Looking further ahead, while Oman continues to enhance its oil recovery techniques to boost oil production, it will keep pursuing its diversification plan ‘Vision 2040’, and construction will continue to be a major contributor to growth in Oman’s non-oil GDP, offering solid prospects for economic diversification. GlobalData considers the prospects for capital expenditure projects in the tourism and manufacturing sectors as being key to the construction industry’s recovery; these sectors have been recognized as long-term drivers of revenue diversification and economic growth for the Sultanate.
This report provides detailed market analysis, information, and insights into the Omani construction industry, including -
- The Omani construction industry's growth prospects by market, project type and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Omani construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Scope
This report provides a comprehensive analysis of the construction industry in Oman. It provides -
- Historical (2015-2019) and forecast (2020-2024) valuations of the construction industry in Oman, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
- Identify and evaluate market opportunities using GlobalData's standardized valuation and forecasting methodologies.
- Assess market growth potential at a micro-level with over 600 time-series data forecasts.
- Understand the latest industry and market trends.
- Formulate and validate strategy using GlobalData's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
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Table of Contents
1 Executive Summary
2 Construction Industry: At-a-glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 COVID-19 Status
4 Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
7.1 What is this Report About?
7.2 Definitions
7.3 GlobalData Construction
List of Tables
Table 1: Construction Industry Key Data
Table 2: Oman, Key Economic Indicators
Table 3: Oman, Commercial Construction Output by Project Type (real % change), 2015-2024
Table 4: Oman, Top Commercial Construction Projects by Value
Table 5: Oman, Industrial Construction Output by Project Type (real % change), 2015-2024
Table 6: Oman, Top Industrial Construction Projects by Value
Table 7: Oman, Infrastructure Construction Output by Project Type (real % change), 2015-2024
Table 8: Oman, Top Infrastructure Construction Projects by Value
Table 9: Oman, Energy and Utilities Construction Output by Project Type (real % change), 2015-2024
Table 10: Oman, Top Energy and Utilities Construction Projects by Value
Table 11: Oman, Institutional Construction Output by Project Type (real % change), 2015-2024
Table 12: Oman, Top Institutional Construction Projects by Value
Table 13: Oman, Residential Construction Output by Project Type (real % change), 2015-2024
Table 14: Oman, Top Residential Construction Projects by Value
Table 15: Oman, Key Contractors
Table 16: Oman, Key Consultants
Table 17: Oman, Construction Output Value (Real, US$ Million)
Table 18: Oman, Construction Output Value (Nominal, OMR Million)
Table 19: GlobalData Construction Market Definitions
List of Figures
Figure 1: Middle East and Africa, Construction Output (real % change), 2020
Figure 2: Oman, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: Oman, COVID-19 Confirmed Cases
Figure 4: Oman, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate), 2015-2024
Figure 5: Oman, Construction Output Value, by Sector (Real, US$ Million), 2015-2024
Figure 6: Oman, Construction Value-Add (OMR Million, Current Prices)
Figure 7: Oman, Total Foreign Direct Investment, Investment Volume (OMR Million)
Figure 8: Oman, Construction Projects Momentum Index
Figure 9: Oman, Commercial Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 10: Oman, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 11: Oman, Wholesale and Retail Trade Value-Add (OMR Million, Current Prices)
Figure 12: Oman, Hotels and Restaurants Value-Add (OMR Million, Current Prices)
Figure 13: Oman, Industrial Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 14: Oman, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 15: Oman, Manufacturing Value-Add (OMR Million, Current Prices)
Figure 16: Oman, Total Merchandise Export (OMR Million)
Figure 17: Oman, Infrastructure Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 18: Oman, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 19: Oman, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 20: Oman, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 21: Oman, Total Oil and Gas Export (OMR Million)
Figure 22: Oman, Crude Oil production (In Thousand of Barrels)
Figure 23: Oman, Total Production of Electricity (GW/H)
Figure 24: Oman, Institutional Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 25: Oman, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 26: Oman, Residential Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 27: Oman, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 28: Oman, Land Plots Granted for Residential (Number)
Figure 29: Oman, Real Estate and Business Activities Value-Add (OMR Million, Current Prices)
Figure 30: Oman, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 31: Oman, Headquarters of Key Consultants (% of Total Project Pipeline)
