Eqarat.com starts Oman operations
Dubai-based total solutions provider to the real estate sector has launched its operation in Oman.
Eqarat.com's move is a part of an aggressive expansion strategy aimed at establishing a stronger presence amongst developers and investors in the regional market, the company said in a statement.
The company is set to leverage the immense opportunities presented by the booming property development sector in Oman, which along with the energy and agriculture sectors has driven the country's GDP to reach OMR7.26 billion ($) in the first six months of 2007, an 8.3 per cent growth in comparison to 2006.
The company has also announced plans to utilise its extensive local and regional resources to offer valued-added sales and marketing solutions to players in the growing real estate sector in Oman.
In its efforts to penetrate the Oman market, Eqarat.com will take advantage of the presence of well established real estate companies and the proliferation of unique and high profile residential, commercial and mix use projects, the company said.
The country's ideal geographic location, strong economy and governmental stability has attracted developers and investors, leading to a tremendous growth in the total transaction volume within the Omani property market, which touched OMR 1.95 billion in 2006, it added.
Industry experts and market research studies have concurred that the performance of the market is yet to see its full potential, as more developers express interest in penetrating the market and established companies announce future projects. The increased activity in the real estate sector, in addition to the favourable projections directed towards Oman has prompted Eqarat.com to enter this particular market.
"Oman's rapid growth, which has doubled in within a span of one year has motivated us to further entrench our local presence to fully leverage the extensive opportunities present within this market," said Eqarat.com CEO Ali Hussein Al Rahma.
"With the continual inflow of GCC and foreign investments to the sultanate, and with Muscat and Salalah witnessing continuous increase due to intense focus on tourism infrastructure developments, the future of Oman's real estate sector looks bright and we are geared to leverage the expected growth," he said.
Source:
Trade Arabia News |
