The net profit of construction companies listed on the Muscat Stock Exchange (MSX) reached 51.8 million Omani Rials (OMR) in the first nine months of 2026, showing a 39% increase compared to 37.1 million Omani Rials during the same period last year. This profit increase is directly linked to the rise in government spending on infrastructure projects, increased demand for construction materials following the launch of multiple real estate development projects, and companies' efforts to control costs and improve operational efficiency.
Positive Performance in the Construction Market
The financial results announced by companies active on the Muscat Stock Exchange indicate a positive performance in this sector. Companies such as Raysut Cement and Building Materials Industry turned from losses to profits, with 9 out of 10 companies in this industry successfully recording profits. Additionally, National Aluminium Products was able to reduce its losses.
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Oman Cables Industry leads with a profit of 17 million Omani Rials, while Voltamp Energy and Oman Cement follow with 10.4 million Omani Rials and 9.8 million Omani Rials, respectively. Furthermore, Al Jazeera Steel Products, Galfar Engineering and Contracting, and Raysut Cement recorded profits of 6, 3.8, and 3.1 million Omani Rials, respectively.
Future Plans and Outlook
The positive results recorded in this sector in the first nine months of the current year indicate an increase in investment activities in the Sultanate of Oman, urban growth, and a rise in the number of commercial and industrial projects. Companies confirmed in their reports to shareholders that they are implementing several plans to maintain their competitiveness in local, regional, and international markets.
Oman Cables Industry announced that it is strengthening its position by offering a comprehensive range of cables, sustainable energy solutions, and value-added services. Ayman bin Hamad Al Busaidi, Chairman of Voltamp Energy, referred to the company's systematic approach to cost management and operational efficiency improvement, noting that the company has adapted well to operational changes and challenges.
The Chairman of Raysut Cement also stated that the third quarter of the current year has been a milestone in the improvement process, with profits achieved for the fourth consecutive time. He also mentioned the company's transformation plans, which include multiple foundations for achieving sustainable growth through regular financial management and a flexible organizational structure.
Raysut Cement is set to sell 200 million shares from November 12 to 22 to finance strategic investments and upgrade equipment. Shu Gang, Chairman of Oman Cement, also stated that the company continues to invest in projects that enhance efficiency and utilize production capacity.
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