Real estate, oil and gas lift Oman FDI 13.3% to $30.26bn in Q2 2019

Manufacturing, real estate, and oil and gas extraction drive interest from UK, US, the UAE, and Kuwait in Oman’s economy

Real estate, oil and gas lift Oman FDI 13.3% to $30.26bn in Q2 2019. [representational image]
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Real estate, oil and gas lift Oman FDI 13.3% to $30.26bn in Q2 2019. [representational image]

The total volume of foreign direct investments (FDI) into the Sultanate of Oman increased 13.3% to $30.26bn (OMR11.65bn) in Q2 2019, compared to $26.7bn (OMR10.29) during the same period in 2018, according to preliminary results released by Oman’s National Centre for Statistics and Information.

The data revealed that oil and gas extraction activity received the most interest in terms of foreign investment in Q2 2019, accounting for around $17.14bn (OMR6.6bn).

Meanwhile, foreign investment in the real estate sector climbed to $2.75bn (OMR1.06bn), and investment in the manufacturing sector reached $4.15bn (OMR1.6bn) in Q2 2019, according to the state run Oman News Agency.

The United Kingdom showed the most interest in Oman, with the volume of FDI from the UK rising to $14.67bn (OMR5.65bn), followed closely by the UAE with an investment of $2.96bn (OMR1.14bn); the US with $2.32bn (OMR897m); Kuwait with $2.16m (OMR831.3m); and China with $1.26m (OMR486.2m).

Bahrain, India, the Netherlands, and Switzerland have also invested heavily in the sultanate.

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