Oman real estate contracts touch OMR252m in May

 Traded real estate contract value in the Sultanate during May 2017 stood at OMR252 million while the collected fees amounted to OMR7,831 million.

This was stated by Dr. Ali bin Azzan Al Hashami, Deputy Secretary of the Real Estate Registry at the Ministry of Housing. 

He added that the real estate activity involved 33,279 transactions that included sale, grant, inheritance, exchange, mortgage and mortgage redemption, usufruct and division transactions.

Dr. Al Hashami further said that the total value of sale contracts stood at OMR118,181,000 through 5,920 sale transactions at the level of the Sultanate’s governorates while the fees collected hit more than OMR4 million.

He pointed out that the Governorate of North Al Batinah recorded the highest number of sale contracts compared to other governorates during May 2017 to 1,267 sale contracts, followed by the Governorate of Muscat with 1,078, South Al Batinah with 1,045, A’Dakhiliyah with 710, South A’Sharqiyah 438, North A’Sharqiyah 424, A’Dhahirah 316, Dhofar with 314, Al Wusta 154, Al Buraimi 138 and Musandam 36.

He added that 21,217 title deeds were issued during May 2017 including those issued for the GCC citizens.

He further said that the total value of mortgage contracts stood at OMR133,161,000 through concluding 1,933 contracts at the level of governorates in Oman.

He pointed out that the fees collected from mortgage contracts hit more than OMR638,000 while the highest percentage of mortgage contracts registered in the Governorate of Muscat with 591 compared to the other governorates in the Sultanate.

The Deputy Secretary of the Real Estate Registry at the Ministry of Housing added that the total value of exchange contracts hit more than OMR1 million while the fees collected from such contract transactions stood at above OMR22,000 through 75 relevant contracts.

Source: Timesofoman