Oman’s commercial construction sector is poised for steady growth, driven by government-led infrastructure projects, economic diversification under Vision 2040, and rising investments in tourism, retail, and industrial developments. According to TechSci Research, the market, valued at $21.5 billion in 2024, is projected to reach $26.82 billion by 2030, growing at a CAGR of 3.6%.
Public-Private Partnerships (PPPs) Fuel Growth
PPPs are playing a key role in driving commercial construction, with the government actively promoting private sector participation in major infrastructure and real estate projects. This approach ensures efficient resource allocation and reduces financial risks while enhancing the development of office spaces, retail centers, and hospitality projects.
Musandam: A Fast-Growing Hub
The Musandam region is emerging as a key area for commercial construction, benefiting from its strategic location along major maritime trade routes. Government efforts to enhance connectivity and infrastructure—such as the development of Khasab Port—are driving demand for logistics hubs, retail outlets, and hospitality facilities, strengthening Musandam’s role in Oman’s economic landscape.
Renovation: The Fastest-Growing Segment
Renovation is outpacing new construction as businesses modernize existing commercial spaces to meet sustainability and efficiency standards. With urban centers like Muscat witnessing a surge in demand for high-quality office and retail spaces, developers are upgrading older buildings to align with technological advancements and environmental regulations.
Key Players
Leading companies in Oman’s commercial construction sector include:
Galfar Engineering & Contracting SAOG
Sarooj Construction Company
Atlantic Construction LLC
Oman Gulf Company
Al Arkan Construction LLC
Dawood Contracting LLC
Al Rawahi International Co. LLC
Al Nab’a Infrastructure LLC
Market Outlook
With opportunities in mixed-use developments, sustainable construction, and tourism-related projects, Oman’s commercial construction market remains highly attractive to both local and foreign investors. The government’s focus on infrastructure expansion and economic diversification further strengthens the sector’s long-term growth prospects.
Source: TechSci Research
