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Sultanate Real Estate Trading During February 2018 Exceeds RO 183 Million.

Muscat, Mar 14 (ONA) --- Abdullah bin Salim al- Mukhaini,

Secretary of the Real Estate Registry at the Ministry of Housing said

that the value of traded contracts in real estate sector reached

RO183.468.715 by the end of February 2018, while the collected fees

stood at RO 7,367,388.

He pointed out that the total number of real estate transactions

amounted to 41,767 including sale, will, inheritance, exchange

mortgage and release of mortgage transactions, besides visas.

He added that the number of sale contracts during February 2018

exceeded 5,045 contracts worth of RO 97,921,000 at the level of the

Sultanate's governorates while the collected fees from such sale

contracts during February 2018 reached RO 3,779,701.

Al-Mukhini added that the Governorate of North Al Batinah recorded

the highest rate of real estate sale contracts with (1122) contracts,

followed by the Governorate of Muscat with (843) contracts, (813) sale

contracts were signed in the Governorate of South Al Batinah, (593)

contracts in the Governorate of A'Dakhiliyah, (432) contracts in

Governorate of North A'Sharqiyah, (390) contracts in the Governorate

of Dhofar, (355) contracts in the Governorate of South A'Sharqiyah,

(294) contracts in the Governorate of A'Dhahirah, (147) contracts in the

Governorate of Al Buraimi, (117) contracts in the Governorate of Al

Wusta and (39) contracts in the Governorate of Musandam.

Al-Mukhini added that 24,923 title deeds were issued in February

2018 including 5,344 in the Governorate of North Al Batinah, 4,175 in

the Governorate of Muscat, 3,620 in the Governorate of South Al

Batinah, 3,356 in the Governorate of A'Dakhiliyah, 2.678 in the

Governorate of A'Dhahirah, 2.019 in the Governorate of North

A'Sharqiyah, 1.505 in the Governorate of South A'Sharqiyah, 1.459 in

the Governorate of Dhofar, 436 in the Governorate of Al Wusta, 227 in

the Governorate of Musandam, 108 in the Governorate of Al-Buraimi.

The number of new land plots registered for the first time stood at

6,201.

The Secretary of the Real Estate Registry explained that the value

of exchanged contracts stood at RO 1,176.719 and the collected fees

for the same amounted RO 23,481 through 136 exchanged contracts,

the Governorate of A'Dhahirah recorded the highest rate with (24)

contracts.

As for inheritance contracts, they stood at (679), as the Governorate

of North Al Batinah registered the highest percentage by (337)

inheritance contracts.

He explained that a total of 1.364 mortgage contracts worth RO

84,370,534 were signed across the Sultanate during February 2018

with fees worth RO 530.879.

He added that the Governorate of Muscat recorded the highest

rate of mortgage contracts among the Sultanate's governorates with

535.

Al-Mhikhini concluded that the total number of title deeds issued

for the GCC nationals according to the real estate possession

conditions during February 2018 amounted to (115), with the UAE

citizens on top by (47) title deeds, followed by the Kuwaiti citizens by

(39) title deeds, and (15) title deeds for Qatari, (9) title deeds for Saudi

citizens and (5) title deeds for Bahraini.

Most of the possessions of the GCC nationals were focused in the

Governorate of North Al-Batinah, comprising 33% of the title deeds.

--- Ends/AH

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Publication:Oman News Agency
Geographic Code:7OMAN
Date:Mar 14, 2018
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