The expert predicted an increase in Russian demand for real estate in Oman

The abolition of visas between Russia and Oman will change the investment mood of Russians. Interest in real estate in this Middle Eastern country is projected to grow. Svetlana Politova, head of Whitewill in Abu Dhabi, Oman and Ras al Khaimah, told Izvestia that the removal of visa barriers not only simplifies tourist trips, but also "opens a window" for investments.

According to Politova, the main importance is not so much the fact of extending the visa—free stay (now up to 30 days instead of the previous two weeks), as the political and reputational effect.

"This is a demonstration of openness and loyalty, which is especially important for investors who see Oman as an alternative to more overheated markets like Dubai or Turkey," she said.

As the expert recalled, there are no legal barriers for Russians when buying real estate in Oman. Foreigners have the right to purchase apartments and villas in ITC (Integrated Tourism Complexes) zones with the right of full ownership, inheritance, lease and resale. The main tax is a one—time VAT of 5% for the initial purchase from the developer. Subsequent transactions are tax-free, which makes Oman's market competitive compared to other Gulf countries.

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Politova stressed that most of the interest is focused on projects on the first coastline, where tourist and household infrastructure is developed. Resorts with a mild climate are especially popular, such as Salala, where temperatures rarely rise above +27 degrees, even in summer.

It is expected that the visa-free regime will eventually lead to an increase in direct flights. The Moscow— Muscat route is currently in operation, but market participants are hoping for new destinations, such as Moscow — Salalah. This will be an additional incentive for the growth of the tourist and investment flow, Politova said.

Although, according to her, the transaction statistics have not changed dramatically yet, developers are already seeing an increase in requests from Russian clients.

"The information background is working for us — there is a growing interest in alternative destinations where climate, infrastructure and loyal jurisdiction are combined," she said.

According to Whitewill estimates, Oman may strengthen its position in the international real estate market for Russians in the coming months by occupying a niche of affordable and safe resort investments.

Earlier, on April 22, the governments of the Russian Federation and Oman signed an agreement on the mutual abolition of the visa regime for citizens of the two countries. The document signing ceremony took place after talks between Russian President Vladimir Putin and Sultan of Oman Haysam bin Tariq Al Said.