Monday, 30 May 2011

Oman city's property prices fall victim to street protests - The National

The violent protests in the industrial city of Sohar, which ended the first week of May after four months, have led to a steep drop in property prices and an increase in vacancies.

"I have six multi-floor commercial buildings in my book that are now on the market at a third the price the owners had originally demanded in December, a month before the protests had begun, ," Khalid al Jahwari, an estate agent in Sohar, said.

"There are still no takers even though there are no more protests here in the city."

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