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New Market Research Report: Oman Infrastructure Report Q3 2011

Fast Market Research recommends "Oman Infrastructure Report Q3 2011" from Business Monitor International, now available

PRLog - Jun. 26, 2011 - BMI View: Full year construction industry figures have confirmed our expectations - 2010 was a difficult year for Oman's construction industry. In nominal terms, the sector grew by just 2.1% to reach a value of OMR1.2bn. Despite persistent weakness, we believe there is significant potential in the infrastructure sector, with a number of contracts having been awarded in 2011 and substantial new investment planned. Momentum in the infrastructure sector should pull the construction industry out of stagnation in 2011, with 5.06% real growth expected.

Full Report Details at
- http://www.fastmr.com/prod/171500_oman_infrastructure_report_q3_2011.aspx

Our medium-term optimism for Oman is based on:

Oman's new five-year spending plan (2011-2015): The new plan foresees OMR30bn (US$78bn) of expenditure, representing a 113% increase on the last five-year plan. Of this, around OMR6bn (US$16bn) will go towards oil industries, with the majority of funds planned to be invested in hospitals, education and roads. The release of the new five-year plan coincided with the government's new budget for 2011, which saw planned expenditure for the year rise by 9% to OMR8.13bn (US$21bn).

The return of commercial and residential construction: Like all countries in the region, Oman was hit by an abrupt halt to activity in the commercial and residential construction sectors, as demand evaporated in line with the global economic downturn, the Dubai World crisis and tighter lending. However the recent announcement that US$8bn will be spent on property developments including hotels, a shopping mall and a convention centre illustrates that the country may be through the worst of the crisis. In addition, the country's largest property development, the US$3bnWave Muscat is back on track, following a slow 2009 and 2010. However, news that it will be completed later than planned shows the recovery is still fragile.

Numerous contract awards and tender releases: By September 2010 the government had signed US$11.5bn of infrastructure projects as part of the US$18.5bn of expenditure outlined in the 2010 fiscal budget. According to BMI's Key Projects Database, infrastructure projects worth in excess of US$30bn are underway or in the pipeline in the country. Progress has been made over the last quarter on the Duqm Airport, the Salalah Port, construction of a national rail network and the Sur independent power project (IPP).

Strong Q1 2011 results from Galfar Engineering and Contracting: The construction company, one of Oman's largest, has posted 75% growth in net profit for Q1 2011 as well as strong order bookings of OMR600mn. The company relies on Oman for the majority of its operations, therefore the results indicate a resumption in contract opportunities in 2011.


Despite this optimism there are risks to our outlook for Oman. The most pertinent at the time of writing is ongoing protests in the country. While political unrest has abated somewhat over recent weeks, there are still pockets of violence. The heightened political risk is likely to concern potential investors and this could damage the success of tenders. The other underlying concern is the continued weakness in the construction sector. With residential and non-residential construction still struggling with demand weakness, the industry remains subdued by historical standards. This has the potential to drag down overall construction industry value over the short term.

Report Table of Contents:

SWOT Analysis
- Oman Infrastructure Industry SWOT
Market Overview
- Oman
Building Materials
- Global Materials
- Global Demand to Hit New Highs In 2011
- Asia To Accelerate In 2011
- World's Top Steel Producing Countries (million metric tonnes - mmt)
- Middle East Overview
Industry Forecast Scenario
- Table: Oman Construction And Infrastructure Industry Data
- Table: Oman Construction And Infrastructure Industry Data
- Construction and Infrastructure Forecast Scenario
Transport Infrastructure
- Transport Infrastructure Overview
- Key Projects Table - Transport
- Table: Major Infrastructure Projects - Transport
Energy and Utilities Infrastructure
- Energy and Utilities Infrastructure Overview
- Key Projects Table - Energy and Utilities
- Table: Major Infrastructure Projects - Energy & Utilities
Residential/Non-Residential Construction and Social Infrastructure
- Residential/Non-Residential Construction and Social Infrastructure Overview
- Major Projects Table - Residential/Non-Residential Construction and Social Infrastructure
- Table: Major Infrastructure Projects - Residential/Non-Residential Construction and Social Infrastructure
Infrastructure Business Environment
- Oman Business Environment Overview
- Rewards
- Risks
- Regional Overview
- Middle East Infrastructure Business Environment Ratings
- Table: Middle East Infrastructure Business Environment Ratings
Company Monitor
- Galfar Engineering And Contracting
Global Overview
- Industry Forecasts
- Construction Industry
- Data Methodology
- New Infrastructure Data Sub-sectors
- Construction
- Capital Investment
- Construction Sector Employment
- Infrastructure Business Environment Rating
- Table: Infrastructure Business Environment Indicators

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets.  BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports.  Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports.  View more research from Business Monitor International at http://www.fastmr.com/catalog/publishers.aspx?pubid=1010

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

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Source:Fast Market Research
Location:Massachusetts - United States
Industry:Construction, Industrial, Engineering
Tags:construction, Infrastructure, projects, investment, road, civil, airport, long-standing, aviation, water
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