Sweet Homes said it was in a “bullish” mood on the prospects for its developments even as some parts of the Middle East undergo a price correction period.
The company ran a road show on the Ajman Uptown project in Oman and said the country’s investors had developed an interest in villas and townhouse communities.
The firm noted Oman could be a source of extra buyer interest thanks to favourable projective figures.
According to Sweet Homes, studies show real real estate investments in Oman totalled $4.2 billion in 2007, up from $0.75 million in 2005. This is expected to rise to 20.8 billion by 2010, Sweet Homes added.
Fahad Sattar Dero, chief executive of the firm, said:
“With a growing number of Omani players looking to invest in residential communities outside of Oman, we are confident that Ajman Uptown will be met with an overwhelming response.”
Oman, which borders with the United Arab Emirates, has seen a 12.9 per cent growth in GDP in 2007 while its real estate market is still in its infancy, posting only 3.8 per cent of the country’s GDP.
Ajaman UpTown – Sweet Homes