Oman real estate transactions reach $402mln in August

Oman: Foreign investors given the opportunity to indirectly own real estate in the sultanate

Traded contracts’ value in Oman real estate sector reached RO155.222mn ($402mln) by the end of August 2019 with 3,641 sale contracts, while the collected fees stood at RO2.367mn.

Secretary of the Real Estate Registry at the Ministry of Housing, Abdullah Bin Salim Al Mukhaini said that the total number of real estate transactions reached 23,210 including sales, will, inheritance, exchange mortgage and release of mortgage transactions, besides visas.

He mentioned that the number of sale contracts during August was 3,641 worth RO51,991,000 across governorates while the collected fees from such sale contracts during August reached RO2.367mn. The Governorate of North Batinah recorded the highest rate of real estate sale contracts (747), followed by South Batinah (613) and Muscat (592).

Mukhaini added that 15,428 title deeds were issued in August including 2,822 in Muscat 2,248 in North Batinah, 2,446 in South Batinah, 1,266 in Dakhliyah, 1,240 in Dhahirah, 916 in North Sharqiyah, 337 in Dhofar and 262 in Buraimi.