Eqarat.com launches extensive business operations in Oman

This is part of an aggressive expansion strategy aimed at establishing a stronger presence amongst developers and investors in the regional market.

In line with this, 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 OMR7.26bn 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. Additionally, 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 OMR1.95bn in 2006. 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 Ali Hussein Al Rahma, CEO, Eqarat.com.

'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.'

Since its establishment in 1991, Eqarat.com has evolved and grown as a pioneer in the industry through its ambitious and innovative real estate philosophy. The company provides a wide range of property services, from property consultancy to sales services for both individual buyers and sellers. Its dedicated team of professional real estate experts is continually soliciting high value projects for prospective investors and developers across the globe. Eqarat.com owns offices in UAE, Kuwait, Jordan, and most recently in Oman, and has continuing expansion plans throughout the region and the rest of the world. As a result of the phenomenal growth and the ever-growing demands from real estate prospects, the company is intending to further expand its operations in Saudi Arabia, Morocco, India and the UK.

'We have been one among the few regional companies, which has perfected a business model that captures the complex requirements of catering to customers on a regional and global level. The launch of our business operations in Oman stands as a testament to our intense dedication to provide the best and most professional services to our clients and potential partners, which we are certain will help maximize our market share in the region. Through this expansion, we are expecting to strengthen our regional presence and ultimately achieve our goal of establishing a stronghold within all local markets across the region,' concluded Al Rahma.