Oman’s landmark building, construction and interior design event The BIG Show (Builders International Gathering) and the first edition of Oman Real Estate Exhibition and Conference (OREX) began on Monday under the auspices of H E Dr Ali bin Masoud al Sunaidy, Minister of Commerce and Industry.
H E Sunaidy officially inaugurated the three-day long event, which is taking place at the Oman Convention and Exhibition Centre, in the presence of a large number of government officials and ministers.
While delivering the keynote address H E Yahya al Jabri, chairman of the Special Economic Zone Authority at Duqm (SEZAD), said that real estate sector has the potential to fuel economic diversification and provide jobs to a large number of people in the sultanate.
Speaking about various steps taken by the government to promote investments in the real estate sector, H E Jabri said the introduction of real estate investment trusts (REITs) should help the sector in attracting more investments both from within as well as outside the country.
During the inauguration of the event, two important agreements were signed: First, related to the development of a large residential project in Barka and the second one, related to the development of an integrated economic city and dry port in Batinah region.
This year, The BIG Show marks a milestone with the launch of the co-located OREX, organised in partnership with Oman Real Estate Association (ORA).
Around 300 companies from 19 countries related to various segments of the real estate industry participated in the exhibition. The BIG Show and OREX will remain open till Wednesday.