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Construction in Oman Key Trends and Opportunities to 2022

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Synopsis


Omans construction industry suffered a sharp downturn in 2017, in part due to public expenditure cuts that stemmed from a decline in the countrys oil production. Consequently, construction output contracted by 6.1% in 2017, following an average annual growth of 9.8% during the preceding three years.

Although the collapse of oil prices in 2014 affected the oil-dependent economy, the governments effort to diversify the economy through investments in non-oil sectors supported the industrys overall growth in 20152016. Additionally, the implementation of the Eighth Five-Year Development Plan 20112015 supported the industrys expansion, under which the government invested OMR12.0 billion (US$31.2 billion) to develop the countrys residential, transport, industrial and healthcare infrastructure.

The industry is expected to recover in 2018, supported by a gradual recovery in global oil prices. This growth is expected to continue throughout the forecast period (20182022), bolstered by the ongoing Ninth Five-Year Development Plan 20162020, under which the government is investing OMR66.0 billion (US$171.7 billion) until 2020 to develop overall infrastructure.

The industrys output value in real terms recorded a compound annual growth rate (CAGR) of 5.57% during the review period, and is expected to post a forecast-period CAGR of 7.92%.


Summary


Timetrics Construction in Oman Key Trends and Opportunities to 2022 report provides detailed market analysis, information and insights into the Omani construction industry, including:

The Omani construction industrys growth prospects by market, project type and construction activity

Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Omani construction industry

Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.


Scope


This report provides a comprehensive analysis of the construction industry in Oman. It provides:

Historical (2013-2017) and forecast (2018-2022) valuations of the construction industry in Oman, featuring details of key growth drivers.

Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector

Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.

Listings of major projects, in addition to details of leading contractors and consultants


Reasons To Buy


Identify and evaluate market opportunities using Timetrics standardized valuation and forecasting methodologies.

Assess market growth potential at a micro-level with over 600 time-series data forecasts.

Understand the latest industry and market trends.

Formulate and validate strategy using Timetrics critical and actionable insight.

Assess business risks, including cost, regulatory and competitive pressures.

Evaluate competitive risk and success factors.

Key Highlights


The countrys residential construction market is expected to offer a positive outlook for the industry over the forecast period, as a result of population growth and subsequent need for new housing. According to the National Centre for Statistics and Information (NCSI), the total number of land plots granted for residential building construction rose by 2.9% from 26,535 in 2016 to 27,300 in 2017.

Timetric expects energy and utilities construction market to register a forecast-period CAGR of 6.53% in nominal terms, driven by government efforts to increase renewable energy share in the countrys total energy mix. In September 2017, the Financial Affairs and Energy Resources Council approved a plan to generate 10.0% of the countrys total energy from renewable sources by 2025.

In order to provide fast and reliable internet connectivity to residential and business communities in Muscat, in November 2017 the government-owned Oman Broadband Company approved the Oman Broadband Infrastructure Project. Under this, the government announced plans to invest OMR179.6 million (US$467.0 million) to develop fiber optic broadband cable.

The need to address the growing demand for increased water supply in the country is expected to support the expansion of the water infrastructure category over the forecast period. According to the projections of Oman Power and Water Procurement Company (OPWP), demand for water resources in the country is expected to increase by over 9.5% until 2019.

The total construction project pipeline in Oman as tracked by the Construction Intelligence Center (CIC), including all mega-projects with values above US$25 million, stands at OMR66.0 billion (US$171.7 billion). The pipeline, which includes all projects from the pre-planning to execution stages, has a healthy balance, with 56.3% of the total value in pre-execution and execution as of February 2018.

1 Executive Summary
2 Construction Outlook: At-a-glance
3 Latest News and Indicators
4 Key Drivers and Risks
4.1 Economic Performance
4.2 Political Environment
4.3 Demographics
5 Construction Outlook
5.1 All Construction
5.1.1 Outlook
5.1.2 Project analytics
5.2 Commercial Construction
5.2.1 Outlook
5.2.2 Project analytics
5.3 Industrial Construction
5.3.1 Outlook
5.3.2 Project analytics
5.4 Infrastructure Construction
5.4.1 Outlook
5.4.2 Project analytics
5.5 Energy and Utilities Construction
5.5.1 Outlook
5.5.2 Project analytics
5.6 Institutional Construction
5.6.1 Outlook
5.6.2 Project analytics
5.7 Residential Construction
5.7.1 Outlook
5.7.2 Project analytics
6 Key Industry Participants
6.1 Contractors
6.2 Consultants
7 Appendix
7.1 What is this Report About?
7.2 Definitions
7.3 About Timetric
7.4 About CIC
7.5 Disclaimer

List of Tables


Table 1: Oman, Key Economic Indicators
Table 2: Oman, Construction Output Value (nominal, OMR Million)
Table 3: Oman, Construction Output Value (nominal, US$ Million)
Table 4: Oman, Top Commercial Construction Projects by Value
Table 5: Oman, Top Industrial Construction Projects by Value
Table 6: Oman, Top Infrastructure Construction Projects by Value
Table 7: Oman, Top Energy and Utilities Construction Projects by Value
Table 8: Oman, Top Institutional Construction Projects by Value
Table 9: Oman, Top Residential and Mixed-Use Construction Projects by Value
Table 10: Oman, Key Contractors
Table 11: Oman, Key Consultants
Table 12: Timetric Construction Market Definitions
Table 13: Construction Risk Index Ratings and Scores

List of Figures


Figure 1: Key Markets, Construction Output Growth and Risk Matrix
Figure 2: Oman, Construction Projects Pipeline by Sector (OMR Million)
Figure 3: Oman, Land plots granted for residential purpose, Number
Figure 4: Oman, Construction Output Value (Real, US$ billion, 2010 prices and exchange rate)
Figure 5: Oman, Construction Output Value, Growth Matrix
Figure 6: Oman, Construction Output Value, by Sector (OMR Million), 20132022
Figure 7: Oman, Construction Projects Pipeline, Projected Annual Spending by Stage (OMR Million), 20172022
Figure 8: Oman, Construction Projects Pipeline, Value by Stage (OMR Million)
Figure 9: Oman, Commercial Construction Output by Project Type (OMR Million), 20132022
Figure 10: Oman, Commercial Construction Projects Pipeline, Value by Stage (OMR Million)
Figure 11: Oman, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (OMR Million)
Figure 12: Oman, Industrial Construction Output by Project Type (OMR Million), 20132022
Figure 13: Oman, Industrial Construction Projects Pipeline, Value by Stage (OMR Million)
Figure 14: Oman, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (OMR Million)
Figure 15: Oman, Infrastructure Construction Output by Project Type (OMR Million), 20132022
Figure 16: Oman, Infrastructure Construction Projects Pipeline, Value by Stage (OMR Million)
Figure 17: Oman, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (OMR Million)
Figure 18: Oman, Energy and Utilities Construction Output by Project Type (OMR Million), 20132022
Figure 19: Oman, Energy and Utilities Construction Projects Pipeline, Value by Stage (OMR Million)
Figure 20: Oman, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (OMR Million)
Figure 21: Oman, Institutional Construction Output by Project Type (OMR Million), 20132022
Figure 22: Oman, Institutional Construction Projects Pipeline, Value by Stage (OMR Million)
Figure 23: Oman, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (OMR Million)
Figure 24: Oman, Residential Construction Output by Project Type (OMR Million), 20132022
Figure 25: Oman, Residential Construction Projects Pipeline, Value by Stage (OMR Million)
Figure 26: Oman, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (OMR Million)
Figure 27: Oman, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 28: Oman, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
Figure 29: Oman, Headquarters of Key Consultants (% of Total Project Pipeline)
Figure 30: Oman, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants)

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Reports Details

Published Date : Feb 2018
No. of Pages :42
Country :Oman
Category :Construction
Publisher :Timetric
Report Delivery By :Email
Report Delivery Time :12 to 24 hours after placing the order.

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