The Oman Housing Bank was established in 1996 to develop housing throughout the country of Oman. A strategic plan was formed for the period 1999-2010 and now a new ten-year strategic plan is being developed. This proposal will outline the financial review and development of the financial strategy including supporting action plans.
The housing sector of Oman has enjoyed strong growth and has also weathered the recent financial turmoil across the world. The institution of housing for low income people in 1973 followed by the Social Housing Law in 1977 set the stage for OHB's pivotal position in Oman.
Global housing markets are recovering. The Omani government recognizing the eventual decline of the oil sector has developed and launched a diversification into gas and other sectors. Recently the government as reaffirmed its commitment to the housing sector and the Oman Housing Bank.
Oman enjoys a special position relative to it's region. Leading global institutions like the World Bank rank Oman high as a place to do business some even third or further among the 22 MENA countries.
Oman's diversification strategy from oil to gas, from natural resource extraction to natural resource utilization like tourism is well underway. Oman offers world class scuba diving, mountaineering, rock climbing, hiking, angling, photographing, even bull fighting among other endeavors. It's cuisine is reflective of both it's European and it's Asian connections.
