Friday 26 / April / 2024
Muscat: Omran’s top executives are meeting Chinese investors to drum up more investment in Oman.
This comes after Chinese buyers made $52 billion of purchases in the international residential property market in 2014.
Omran executives are meeting Chinese agents to form alliances at the Juwai China Agent Summit in Beijing, which is taking place this week.
This is the only event in China that provides instant on-the-ground sales channels, allowing Omran to network with Chinese property players and learn from industry experts about how to market to Chinese overseas property buyers.
The Omran team will meet potential investors to discuss the connection between Oman’s up and coming new real-estate developments and Chinese investor interest in the Sultanate.
Key projects
The Mina Al Sultan Qaboos Waterfront and Saraya Bandar Jissah are two key projects that will be showcased at the event.With China’s ambitious approach to forging a new silk road under the ‘One Belt, One Road’ initiative there is significant opportunity for Oman to attract Chinese investment.
With Omran behind some of the Sultanate’s flagship master planned real-estate projects, and Oman earmarked as a destination on the ‘Twenty-First Century Maritime Silk Road’, the synergies between the two countries imply robust opportunities for using Chinese investment to bolster development in Oman.
Wealth managers
The event also brings together Omran executives and major Chinese real-estate agents and wealth managers. Omran will discuss why Oman is a perfect location for the Chinese to go on holiday and own holiday homes, with residency rights available once property is purchased.
Commenting on this participation, Omran chief executive officer James Wilson said: “Chinese investors have a significant appetite for real estate investment, and Oman is a market, which offers a compelling investment proposition due to the variety of major developments underway.
Synergy
“Oman is already a country linked to China by its ‘Twenty-First Century Maritime Silk Road,’ which underlines the discussions we have already had regarding the synergy between Oman’s offering as a unique destination and Chinese interest in investing to develop the latest property projects in up and coming markets,” he added.
“In the past few years, Chinese buyers have started to make their presence felt on the global property market, snapping up everything from luxurious trophy homes to more modest condominiums and investment opportunities.
For many Chinese, global property investment is an emerging opportunity, which until recently was out of reach, but with forecasts that will see 100 million upper-middle-class, 3.88 million high-net-worth and 280 million affluent Chinese by 2020, Omran must invest in this new market,” Wilson concluded. Omran’s presence at the summit will also offer Chinese investors an insight into the Sultanate’s tourism and real estate offerings, covering its mixed-use developments, luxury hotel proposition, attractions and cultural sites.
Enhance collaboration
The strategic visit also creates the first steps to further increasing Chinese visitor numbers.
Hafidh Al Hadhrami, asset manager at Omran, commented: “We’re looking to capitalise on partnerships, events and investment opportunities, while seeking to enhance collaboration. Omran has an ambitious strategy to support Oman’s tourism development drive, and real estate plays a major part in that–real estate sales underpin tourism destinations, so we want to ensure Chinese investment plays an important role in the push to develop Oman’s economy through the expansion of major mixed-use real estate and tourism projects. The Chinese consumers like to visit cultural and heritage attractions, so Oman is ideal.”
