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Rising crude oil prices and increased government investment in non-oil sectors will boost growth in Oman’s construction sector in 2018 by 10.4% and in 2019 by 11.5% outstripping the MENA construction sector average according to a recent report by BMI Research, a unit of Fitch Ratings.

An earlier report by intelligence provider BNC in April 2018, identified a total of 2,410 active construction projects in Oman with a combined value in excess of US$190bn. Ongoing projects comprise 1,840 projects worth US$61bn urban construction projects, 70 projects worth US$39bn in the oil and gas sector and 150 projects worth US$32bn in transportation.

BMI predicts continued strong growth for the sector over the course of the next five years. The upward trajectory is underpinned by Oman’s favourable foreign investment regulations and incentives, as well as an ambitious economic diversification agenda and robust government support for infrastructure sectors like power and water, tourism, and transport and logistics and the establishment of special economic zones to serve as an investment focus for companies seeking infrastructure opportunities.

Against this substantial project pipeline, AMJ’s construction specialists, managing partner, Mansoor Malik, and senior associate, Henry Mitchell, have contributed an overview of Oman’s construction law regime to the latest Legal 500 Construction Comparative Guide. For guidance on the procurement, financing, permitting and licensing of construction activity in Oman as well as standard contract terms relating to the obligations of parties, taking of security, termination and dispute resolution,

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