Strategic Management in the Real Estate Business: A Focus on Oman

This study investigates how strategic management is practised in Muscat’s real estate sector. It was influenced by Oman’s Vision 2040 and shaped by a state-centric governance system rooted in strong cultural, social, and value norms. While existing strategic management literature mainly draws on Western theories, including the resource-based view and the dynamic capabilities framework, this research suggests that these models need to be adapted to make them applicable in the context of emerging economies like Oman, in which market activities are closely linked with government policy and institutional direction. Using a qualitative, interpretivist approach, this study is based on twenty (20) in-depth interviews with senior executives, founders, and government-related professionals. It examines how leadership, policy alignment, cultural expectations, and technology adoption influence strategic actions in environments characterised by numerous constraints. Its findings reveal that in Oman, strategic practices do not rely solely on internal resources or market competition but also on alignment with national development goals, building stakeholder trust, and adapting to regulatory and economic changes. This study introduces an original concept of strategic responsiveness in constraint-rich environments. Based on this concept, the study demonstrates how organisations maintain competitiveness not by bypassing structural constraints but by navigating them through cultural understanding, political alignment, and institutional negotiation. It provides practical insights into strategic management in Oman’s real estate sector, showing that long-term success depends on adaptive leadership, evidence-based decision-making, and close institutional alignment. It highlights the need for regulatory frameworks that enable, improved market transparency, and structured public–private collaboration to support investment and innovation. The findings highlight the importance of enabling regulatory frameworks, improved market transparency, and structured public–private collaboration to support investment and innovation, while also underscoring the central role of trust, cultural sensitivity, and social responsibility in sustainable development. Based on these insights, the study offers targeted recommendations for industry practice, public policy, and future research, emphasising collaborative governance, context-sensitive strategic frameworks, and further empirical enquiry across sectors and regions.