The total real estate exposure of the banking sector in Oman is at 33% of the total lending portfolio, as per the latest report on financial stability. Hence, any weakening in the real estate market may expose the banking sector to considerable risks. Although at present there are no major signs of stress in the Omani real estate market, sizable exposures signify that a shift in investors’ sentiments, decline in rents or higher vacancy rates for built-to-rent real estate may rapidly jeopardise the stability of the banking sector.
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