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Housing: Over RO 128 Mln the Value of Real Estate Trading Last December

Posted by Raja Sheraz on January 11, 2018
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A report on real estate trading during last December stated that the governorate of North Al Batinah toped real estate trading regarding the contracts of sale, inherent and grant at the level of the governorate while Muscat governorate toped on the mortgage, mortgage redemption, utilization contracts as well as deed issued. The Wilayats of Saham, Bushar and Al Seeb toped GCC citizens’ property ownership as citizens of Kuwait toped GCC property ownership.

HE Abdullah bin Salim Al Mukhaini, Secretary of the Real Estate Registry, stated that the value of contracts traded during last December reached over than RO 128 Mln while the collected fees totaled over than RO (5,408,000). HE pointed out that the real estate activity involved (29765) transactions during the same month, including transactions of sale, grant, inheritance, exchange, mortgage, mortgage redemption, utilization, division and deed stamping.

North Al Batinah Tops Sale Transactions

Al Mukhaini said that the total value of sale transactions amounted over than RO (36.563.000) through conclusion (3944) sale transactions at the level of the Sultanate’s governorates, while more than RO (2,721,000) were collected as sale transactions fees.

Secretary of the Real Estate Registry added that sale transactions in North Al Batinah governorate formed the highest percentage compared to the rest of the governorates of the Sultanate last month, reaching to (818) sale transactions, followed by Muscat with (581) transactions. Then, South Al Batinah came third by (628) sale transactions followed by Al Dakhiliyah with (510) sale transactions, while North Al Sharqiyah witnessed (357) transactions and South Al Sharqiyah (354) sale transactions. Next came Dhahirah with (271), transactions followed by Dhofar Al with (184) sale transactions, Al Buraimi with (103) sale transactions, then Al Wusta with (101) transactions and finally Musandam governorate with (27) sale transactions.

17334 Title Deeds Issued

His Excellency pointed out that during the month of December (17334) title deeds were issued include GCC citizens’ ownership, including (3313) title deeds in Muscat governorate, (3274) title deeds in North Al Batinah, (2818) title deeds in South Al Batinah,(2612) title deeds in  Al Dhakhiliyah, (1343) title deeds in, in North Al Sharqiyah(1194) title deeds Al Dahirah,(1147) title deeds in South Al Sharqiyh,(889) title deeds in Dhofar,(376) title deeds in Al Buraimi, (232) title deeds in Al Wusta and (136) title deeds in Musandam. Moreover, the number of new land plots registered for the first time last December totaled (4777) land plot.

Governorate of Muscat Tops Mortgage Transactions

Al Mukhaini said that the total value of mortgage transactions amounted to RO (63.523,000) through (908) mortgage transactions at the level of the Sultanate’s governorates, while RO (284,000) were collected as mortgage transactions fees with (276) transactions in Muscat.

Other Legal Transactions

HE Abdullah bin Salim Al Mukhaini, Secretary of the Real Estate Registry, said that the total value of the swap contracts reached more than RO 1Mln while fees collected amounted more than RO (21,000) through the conclusion of (114) swap contract and Al Dhakhiliyah governorate formed the heights percentage at the level of the Sultanate by (30) contracts.Moreover, inheritance contracts reached to (446) contracts including, (177) contracts in North Al Batinah governorate which formed the highest percentage, while grant contracts amounted to (1189) contracts and North Al Batinah governorate scored the highest percentage by (238) contracts. Furthermore, mortgage redemption contracts amounted to (493) at the level of all governorates and Muscat governorate represented the highest percentage by (158) contracts.On the other hand, (396) dividing contracts were concluded and South Al Batinah governorate had the highest rate by (126) contracts. Deed stamping contracts reached to (98) of which Al Dhairah governorate formed the highest percentage by (26) contracts. Finally, utilization contracts reached to (151) of which Muscat governorate represented the highest percentage by (27) contracts.

88 Title Deeds Issued for GCC Citizens

 

The Secretary of real estate registry, noted that during the month of December the total number of title deeds issued for GCC citizens, in keeping with the regulations of property titling in the Sultanate, reached to (88) deeds; (40) title deeds for Kuwait citizens who came first by a percentage of (45%), followed the United Arab Emirates by the citizens of by (24) title deeds and (27%). Then Qatar came citizens by (16) title deeds and (18%), followed by Bahrain citizens by (5) title deeds and (6%) and finally Saudi Arabia citizens by (3) title deeds and (3%). He pointed out that the rate of GCC citizens titling concentrated in Muscat and North Al Batinah governorate by (34%) title deeds and (28%).

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