The number of the Gulf residents, who purchased real estate assets in the Sultanate of Oman, amounted to 58 persons in February 2005, in addition to the large number of Gulf residents, who purchased real estate assets in Oman last year. Market sources attribute this trend to the numerous new incentives awarded by the Omani government to the Gulf investors, who buy properties in Muscat and other Omani cities. The turnover of the Omani real estate sector amounted to OR 161 million ($419 million) in February 2005, according to statistics issued by the Housing Ministry.
BUSINESS
