Second Oman Real Estate Forum begins

Muscat: Innovative financing solutions to the real estate sector among other things will be discussed at the second edition of Oman Real Estate Forum which kicked off in Muscat on Monday.
The Forum began under the auspices of Saif bin Amer Al Shaqsi, Undersecretary of the Ministry of Housing.
Eng. Mohamed bin Salim Al Busaidi, Chairman of Oman Real Estate Association (OREA) said that the forum includes several themes that include studying the real estate status in the Sultanate during this year and the upcoming period, as well as highlighting and understanding the role of Islamic banking in the real estate investment through various Islamic banking products.
He added that the forum will talk about one of the innovative financing solutions to the real estate sector, a mortgage funds, which have been adopted as one of the initiatives National Program for Enhancing Economic Diversification (Tanfeedh).
The forum addressed a range of issues of concern to the real estate arena in the current period, especially with the global economic changes. It also highlighted the government decisions, particularly those that were discussed during Tanfeedh program, which directly affect the real estate sector.
The working papers touched on the reality of tourism in the Sultanate and the large opportunities in this area with a focus on the landmarks in the Sultanate that have the potential to be of global destinations in the upcoming years.
A panel discussion was held in the forum. It touched on the current status of the Omani real estate market with a focus on the tourism side, which is a fundamental pillar in the next stage.