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Oman real estate market comes of age
Real estate news By Gulf News
October 18, 2007, 23:32
Dubai: From the perspective of a real estate developer, seeking out a potential investment destination is similar to diving into the deep blue sea, driven by the possibility of finding that rare gem - in this case an untouched location - that has the potential to create a magnificent sustainable tourist destination. Oman is fast evolving into a real estate developer's dream. However, one is prompted to question - what is so exceptional about Oman?
Oman is commonly known to be the friendliest and most welcoming country in the Gulf due to its historical interaction with different cultures, given its natural borders and costal access to the Gulf of Oman. The historical wealth of Oman is augmented by its rich cultural assets that grace the country with an awe-inspiring splendour, as unique as the landscape.
With an extensive geographic and climatic diversity, fertile coastal areas, and mountainous regions, Oman has the most diverse elements in the Gulf. Farhan Faraidooni, executive chairman of Sama Dubai, developers of the $1.7 billion Salam-Yiti development in Oman, says: "There is an obvious transformation in the Omani real estate market. In the last month alone, we have registered close to 200 prospective buyers seeking residential units at our Salam-Yiti project in Oman."
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