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2 Billion Rials the Total Value of Real Estate Trading, Issuance of More than 200 Thousands Titles and Registration of 44 Thousands New Land Plots

Posted by Raja Sheraz on November 19, 2019
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HE Abdullah bin Salem Al Mukhaini, Secretary of Real Estate Registry of the Ministry of Housing stated that the total value of real estate trading during the period January-September of this year amounted to RO 1,822,108,000, compared to RO 2,045,961,000 for the same period in the last year 2018 with a decrease by 11%, while fees collected for this period of the current year amounted to RO 61,321,296 compared to RO 66,597,957 last year with a decrease by 8%.

HE pointed out that real estate activity at the level of the Sultanate’s governorates during the period January-September of this year involved 294,487 transactions, including transactions of sale, grant, inheritance, exchange, mortgage, mortgage redemption, utilization, division and deed stamping. At the level of the governorates 54,074 transactions registered in Muscat governorate, 12,435 in Dhofar, 45,186 in South Al Batinah, 59,679 in North Al Batinah, 19,300 in South Al Sharqiyah, 24,298 in North Al Sharqiyah, 41,733 in Al Dakhiliyah, 20,133 in Al Dhahirah, 9,171 in Al Buraimi, 4,614 in Musandam, and finally 3,864 real estate transactions in Al Wusta governorate.

HE Secretary of Real Estate Registry noted that during the past nine months of this year 202,179 titles compared to 211,727 title deeds issued during the same period of the year 2018 with a decrease rate by 5%. The number of new land plots registered for the first time during the past nine months was 44,168 compared to 49,104 plots registered in the same period with a decrease rate by 10%. The total number of title deeds issued to the GCC citizens, according to the controls of real estate ownership in the Sultanate, during the same period of this year totaled 694 titles compared to 1,101 title deeds issued during the same period of last year with a decrease by 37%.

Al Mukhaini said that the total value of sale contracts amounted to RO 697,610,508 through 43,300 contracts compared to RO 713,723,902 collected through the completion of 44,120 sale transactions with a decrease in the total number of contracts and value by 2%. The collected fees amounted to RO 29,829,774 compared to RO 29,858,776 for the same period of the last year with a decrease by 0.1%.

HE the Secretary of Real Estate Registry pointed out that the total number of mortgage contracts concluded at the departments of real estate registry is 12,226 contracts valued at a total amount of RO 1,106,838,031 while collected fees totaled RO 7,963,945 compared to a total number of 12,604 contracts, valued at RO 1,319,516,257 and an amount of RO 8,579,692 was collected as fees with a decrease by 3% in contracts number, 16% in the total value and 7% in the collected fees.

HE Abdullah bin Salem Al Mukhaini concluded his statement saying that the value of swap contracts during the period from January to September this year witnessed an increase in number by 5%, 39% in the monetary value and 26% in the collected fees compared to the same period of the last year. As the number of swap contracts registered in the past nine months, 1,214 swap contracts valued at RO 17,660,296, while an amount of RO 320,243 was collected as fees, whereas the same period of the last year witnessed 1,161 swap contracts valued at RO 12,721,010 and the amount of RO 254,032 as collected fees.

https://eservices.housing.gov.om/eng/Pages/NewsDetails.aspx?newsID=915

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