Historically reliant on hydrocarbon extraction and exports, Oman has embarked on a strategic shift to diversify its revenue streams. The government is actively promoting non-oil sectors, aligning with its Vision 2040 framework to foster long-term economic sustainability.
The Sultanate of Oman was unified in 1970. Before this, the country was known as the Sultanate of Muscat and Oman, reflecting the historical distinction between the coastal areas around the capital and the autonomous inland regions.
Economic diversification has long been a priority for Gulf nations, with each country adopting its own strategy. The UAE leverages soft power and flexibility, Saudi Arabia pursues an aggressive approach with ambitious megaprojects and its “one regional HQ” policy, while Oman takes a balanced path, integrating the best of both strategies.
Oman is increasingly gaining attention as one of the most attractive investment destinations. However, Omani citizenship has yet to become a major draw for international investors. This is largely due to the restrictions on dual citizenship and the fact that the naturalisation process is available only to a limited group of individuals.
Since 2006, foreign nationals have been permitted to purchase property in Oman. Previously, options were limited to Integrated Tourism Complexes (ITCs). However, as of 2025, foreign buyers can acquire real estate both within and beyond ITCs, except in specific zones outlined in a Royal Decree.
In recent years, Oman’s real estate market has undergone significant changes, with legal support for foreign investment playing a key role in its development. Regulatory processes have become more transparent and efficient, making the country more accessible to both large-scale investors and individual buyers looking for property for personal use.
2024 has been a breakthrough year for Oman — the Sultanate, long overshadowed by its more renowned neighbour Dubai, is now emerging as a prime destination for business relocation and capital investment.