Real estate deals in Oman topped OMR395 million

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A total of 36,616 transactions worth OMR395,434,390 were conducted in the real estate sector during November 2015, Abdallah bin Salim Al Makhini, Secretary of the Real Estate Registry at the Ministry of Housing has said.

The fee collected amounted to OMR4,564,703, he added. The contracts included inheritance, donation, mortgage and mortgage redemption.

A total of 7,314 sale contracts worth OMR205,806,486 were signed in all the governorates with over OMR2,797,000 collected from fees, he said.

The Governorate of North Al Batinah recorded the highest rate of real estate sale contracts with 1,454 contracts followed by the Governorate of Muscat with 1,316 contracts, 1,172 sale contracts were signed in the Governorate of South Al Batinah, 1,172 in the Governorate of Al Dakhiliyah, 560 in the Governorate of North Al Sharqiyah, 476 in South Al Sharqiyah Governorate, 470 in the Governorate of Dhofar, 421 in the Governorate of Al Dahirah, 269 in the Governorate of Al Wusta, 266 in the Governorate of Al Buraimi and 26 sale contracts in the Governorate of Musandam, Al Makhini added.

He explained that a total of 2,122 mortgage contracts worth OMR188,855,458 were signed across the Sultanate with OMR1,026,349 in fees.

He further said that the total title deeds issued for GCC nationals, as per the real estate possession regulations in the Sultanate, during November amounted to 175 with UAE on top with 83, followed by the Kuwaitis (66), Qataris (15), Saudis (7) and Bahrainis (4). Most of the possessions of the GCC nationals were focused in the Governorate of North Al Batina with 26.3 percent (46) and the Governorates of Dhofar with 17 percent (30).


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