DUBAI: Oman’s ban on expatriates owning land in the country’s top tourist destination Dhofar will lead to a rise in the value of real estate, according to local daily Times of Oman.
The ban allows expats to only be able to own land in and around Salalah, which lead to positivity from locals of Dhofar who felt that the ban would benefit the economy as a whole.
“Since this decision states that non-Omanis can only own properties in Salalah and no other wilayat in the governorate of Dhofar, investments in Salalah will be more active,” said Ahmed Said Tirash Al Rawas, head of the real estate development committee in the Dhofar Chamber of Commerce and Industry, told the Times of Oman.
“I predict that the demand for properties will increase as a result, and the value of real estate in the wilayats will rise,” Al Rawas added.
Last month, Oman’s Ministry of Housing issued a decree that forced non-Omani land owners to transfer their land to locals over the next two years or face legal action.
The step taken by the government is part of the Omanization drive is part of a push to recruit more of its citizens, a similar push is underway across the GCC where countries like Ƶ and Kuwait have also been trying to increase the number of locals in employment.
Earlier this year, expat workers in the country faced a six-month visa ban across 87 industries, including media, engineering, marketing and sales, accounting and finance, IT, insurance, technicians, administration and HR.
