Real estate activity in Oman rises to OMR3.22 billion

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Total value of real estate activity in the Sultanate surged ahead by 42 per cent to touch OMR3.22 billion for the first nine months of 2015, compared to the same period last year, the statistics released by the National Centre for Statistics and Information (NCSI) shows.

Fees collected from all the legal transactions reached OMR37.6 million with a 18.6 per cent increase. The traded value of selling contracts also increased by 1.3 per cent to record OMR949.3 million.

The number of selling contracts fell by 4.5 per cent to record 60,490 contracts, compared to 63,317 contracts during the same period of 2014. Traded value of mortgage contracts increased with 70.5 per cent to record OMR2,257.3 million, compared to OMR1,324 billion recorded for the same period of 2014.

The number of mortgage contracts increased with 13.4 per cent to record 16,887 contracts, compared to 14,886 contracts during the same period of 2014.

Traded value of exchange contracts recorded OMR17 million till the end of last September with a significant growth of 95.4 per cent compared to the value recorded during the same period of 2014, which was OMR8.700 million.

The number of exchange contracts also recorded an increase of 13.3 per cent to reach 1,029 contracts by the end of September, compared to 908 contracts recorded during the same period of 2014.

The statistics showed also that 181,607 title deeds were issued by the end of September with a 6.4 per cent increase compared to the figures recorded during the same period of 2014, which reached 170,688 title deeds.

The number of title deeds issued for the Gulf Cooperation Council nationals witnessed a 26 per cent fall by the end of September to reach 1,817 deeds compared to 2,457 title deeds recorded during the same period of 2014.


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