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Office Wise | Office Wise | OFFICE WISE | OFFICE WISE SHOWCASING THE BEST OFFICE PROPERTIES IN MUSCAT SAVILLS OMAN Hatat Complex, Ground Floor, PO Box 1475, Oman 800 00 888 savills.me SAVILLS OMAN WELCOME TO SAVILLS MIDDLE EAST Founded in 1855, Savills is a global real estate firm with more than 39,000 staff and 600 offices worldwide. This breadth of global coverage, combined with specialist services and market insight, ensures there is always a local advisor to provide the latest information and expertise. 600+ 39,000+ 300+ OFFICES AND EMPLOYEES SERVICES TO FULFIL ASSOCIATES WORLDWIDE GLOBALLY YOUR NEEDS Formerly known as Cluttons Middle East, Savills has been the regional leader and real estate advisor of choice in the Middle East for over 43 years. With on-ground presence in seven cities across five Middle East countries, Savills has the largest reach of any real estate consultancy in the region. #1 7 43+ YEARS IN REAL ESTATE FIRM IN OFFICES ACROSS THE MIDDLE EAST THE MENA REGION MENA 2 | OFFICE WISE | OFFICE WISE MARKET OUTLOOK The Muscat office market has been evolving over the last 5 years with the introduction of true Grade A quality office stock, new emerging commercial areas, an increase in the supply of business centre operators, and a movement towards fitted space which has been driven by demand for lease and space flexibility from business occupiers. DEMAND Demand for office space has shifted away from the CBD area with a focus on emerging commercial districts as the city moves in a westerly direction. Occupiers are increasingly considering staff commuting times and providing convenience and connectivity to their client base which has seen a surge in demand for areas including Bausher, Azaiba, Ghala, Airport Heights, and Mwallah. Office occupiers are increasingly motivated by cost savings, flexibility and parking when acquiring new office premises. Properties that offer partially or fully fitted traditional open plan office space with generous parking are more favorable to interest based on the heavily reduced initial fit out CAPEX. Demand for business centre operators has increased sharply based on the low set up costs and flexible short-term leasing structures available to occupiers. SUPPLY Office development in Muscat has been relatively active over the past 5 years and a new standard of office quality is available within the market in buildings such as the Waterfront, Salam Square, Beach One and the Ominvest Business Centre, all which have performed well. Generally, buildings that are offered in a shell and core condition are suffering from higher vacancy rates and landlords that are prepared to offer semi or fully fitted space are meeting the demands of the current market. The supply of business centre operators has increased substantially in the market with good quality and well-priced providers achieving high occupancy rates. SAVILLS OMAN OFFICE WISE MARKET OUTLOOK RENTAL VALUES AND SERVICE CHARGES Office rental values in Muscat have seen average declines of 25% over the past 5 years to date with additional incentives available including longer initial rent-free periods, additional parking spaces and fit outs provided by landlords to secure tenancies. Current tenant friendly market conditions provide for excellent opportunities to acquire new office premises at historical low costs. Average service charge rates in Muscat total RO 0.500 per m2 and contribute to the upkeep, operation and management of a buildings common area. This represents an extremely low level of charge in comparison to international markets and it is the local norm for landlords to absorb the majority of these costs from a tenant’s rent. COVID-19 AND THE EVOLVING WORKPLACE The Covid-19 pandemic has disrupted business activity across the globe, and required a rapid adjustment in business practices and systems as many staff move to working from home. Due to the features provided by technology, this adjustment has generally been achieved with minimal impacts on working capabilities. As a result, Savills would foresee the potential for significant long term changes in how businesses operate and their real estate requirements. Utilising our market experience and expertise, we are able to assist commercial tenants in reviewing their operational requirements in order to drive both cost savings and efficiencies. PROJECT MANAGEMENT We know that corporate real estate requirements are always changing. Our flexibility, market insight and solution focused approach ensures that we drive the very best value for our clients through all stages of the commercial office life cycle. We manage the planning, design and construction of real estate projects from beginning to end, handling every detail on behalf of the client. Our project managers are trained to achieve the best possible results in terms of quality, time, cost and safety. Whether you are looking to establish your first corporate office in the region, expand, downsize or simply achieve a more flexible solution for your existing work space, we will bring pragmatism and creativity in equal measure to create an environment where employees thrive and clients will want to visit you. | OFFICE WISE | FOR LEASE ALFARDAN HEIGHTS, GHALA Rent: starting from RO 9.000 per m² • Premium CAT A offices • Magnificent panoramic view • 27/7 security and call centre24/7 • CCTV & access control • Building management system • Dedicated basement parking • Offices starting from 112 m² THE WATERFRONT, SHATTI AL QURUM Rent: starting from RO 13.000 per m² • Muscat’s premier office address • Located on the beachfront in Shatti Al Qurum • Stunning views across the Sea of Oman • Gold LEED certified property • Excellent construction and space design QATAR AIRWAYS BUILDING, GHALA Rent: starting from RO 6.000 per m² • Total rental area of 8,100 m² (964 m² per floor) • Iconic grade A office space • Situated within the emerging commercial area of Muscat • Unique views overlooking Muscat and the Sea of Oman • Fronting on to the Sultan Qaboos Highway DANA HOUSE, AL KHUWAIR Rent: RO 8.000 per m² • Fully furnished and ready for immediate occupation • Dedicated HQ office building • 8,000 m² of Grade A office space • Prominent location with excellent visibility • Extensive parking options available for large staff numbers 5 SAVILLS OMAN FOR LEASE MINARET AL QURUM, QURUM Rent: RO 6.000 per m² • 500 to 5,000 m² available • Fully fitted office space • Prominent visibility • Convenient access on to the Muscat Expressway • Excellent parking BEACH ONE, SHATTI AL QURUM Rent: starting from RO 8.300 per m² • Grade A office premises located in central Muscat • Available unit sizes from 249 m² to 909 m² • Iconic business address in central Muscat • High grade tenant mix • Efficient access from the Sultan Qaboos Highway BEACH HOUSE, SHATTI AL QURUM Rent: starting from RO 9.000 per m² • 700 m² to 1,400 m² available for rent • Semi-fitted ground floor office premises • Situated within the Shatti commercial area • Secure parking facility • Close proximity to 5* hotels in central Muscat HATAT COMPLEX, AL WUTAYAH Rent: starting from RO 5.000 per m² • Flexible office sizes available • Refurbished semi-fitted office space • Landmark business address • Direct access onto major road network • Excellent parking provisions 6 | OFFICE WISE | FOR LEASE AL ASSALAH TOWERS, AL GHUBRAH Rent: starting from RO 7.400 per m² • 108 m² to 853 m² available • Semi-fitted offices • Direct access onto the Sultan Qaboos highway • Prominent visibility • Basement parking provisions YAHYA GROUP HOLDING, BAUSHER Rent: starting from RO 6.000 per m² • 425 m² of open plan office space • Semi-fitted and ready for occupation • Quiet location neighboring Dolphin Village • Direct access from Bausher Street • Ample shaded surface level parking facility ROYAL DIWAN BUILDING, SHATTI AL QURUM Rent: starting from RO 9.300 per m² • Flexible unit sizes from 127 m² and above • Grade A office premises • Located close to the Shatti Embassy district • Convenient access to the Sultan Qaboos highway • Basement parking available BURJ AL AMAL, QURUM Rent: starting from RO 6.000 per m² • Available offices from 200 m² to 800 m² • Prominent visibility onto the Sultan Qaboos highway • Located within the Qurum commercial centre • Potential for semi-fitted space • Basement parking facility 7 SAVILLS OMAN FOR LEASE A ‘FINA AZAIBA, AZAIBA Rent: starting from RO 8.000 per m² • Areas available from 220 m² and up • Grade A building fronting onto the Sultan Qaboos Highway • Semi-fitted space ready for immediate occupation • Convenient accessibility onto the highway • Basement parking available AL ENAAM BUILDING, AL HAIL Rent: starting from RO 6.000 per m² • Office accommodation from 223 m² to 892 m² per floor • Emerging commercial area • Close proximity to Muscat International Airport and Al Mouj • Direct road frontage • Basement parking facility AL MUZN MALL, NEAR AL MOUJ Rent: starting from RO 6.000 per m² • Available sizes range from 1,200 m2 to 2,400 m2 • Brand new shell and core office accommodation • Excellent parking provisions • Prime location next to Al Mouj and Muscat International Airport • Community mall, hotel and apartments located within the vicinity NEW COMMERCIAL BUILDING, GHUBRAH Rent: Starting from RO 6.000 per m² • Building area totaling 21,000 m² • Visibility from the Sultan Qaboos highway • Convenient accessibility • Dedicated basement parking • Attractive to large commercial occupiers 8 | OFFICE WISE | FOR LEASE OMAN EMIRATES BUILDING, GHALA Rent: starting from RO 6.000 per m² • 100 to 676 m² available per floor
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