A report on real estate trading in the Ministry of Housing during the month of August pointed that North Al Batinah topped other governorates in terms of sale, inheritance, division, and deed stamping contracts, while Muscat came first with regard to mortgage, mortgage redemption, grant contracts and issued titles. In addition, Al Dakhiliyah and North Al Batinah came on top in terms of swap contracts. Real estate ownership by GCC citizens concentrated the most in the wilayat of Salalah during that month, and Kuwaiti citizens represented the highest ownership percentage among other GCC citizens, according to a statement by HE Abdullah bin Salim Al Mukhaini, secretary of the real estate registry in the ministry of housing.
He stated that the value of contracts traded during last August amounted to RO (1,168,252,111) while the collected fees totaled RO (4,143,671). HE pointed out that the real estate activity involved (32897) transactions, including transactions of sale, grant, inheritance, exchange, mortgage, mortgage redemption, utilization, division and deed stamping.
Governorate of North Al Batinah Tops Sale Transactions
Al Mukhaini said that the total value of sale transactions amounted to RO (77,352,312) through (6325) sale transactions at the level of the Sultanate’s governorates, while RO (2,572,791) were collected as sale transactions fees.
The 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 in the last August, reaching to (1392) sale transactions, followed by South Al Batinah with (1144) transactions. Then, Muscat came third by (1012) sale transactions followed by Al Dakhiliyah with (696) sale transactions, while Dhofar witnessed (506) transactions and North Al Sharqiyah (435) sale transactions. Next came South Al Sharqiyah with (395) transactions followed Al Dhahirah by with (385) sale transactions, Al Wusta with (176) sale transactions, then Al Buraimi (167) transactions and finally Musandam governorate with (17) sale transactions.
(20698) Title Deeds Issued
His Excellency pointed out that during the month of August (20698) title deeds were issued included GCC citizens titling as (5110) title deeds in Muscat, (4147) in Al North Al Batinah, (2575) in South Al Batinah, (2585) in Al Dhakhiliyah, (1331) in South Al sharqiyah, (1329) in Al Dahirah, (1370) in North Al Sharqiyah, (1400) in Dhofar, (339) in Al Buraimi, (359) title deeds issued in Al Wusta governorate, (153) title deeds issued in Musandam. Moreover, the number of new land plots registered for the first time totaled to (3357) plots.
(255) Title Deeds Issued for GCC Citizens
Secretary of real estate registry, noted that during the month of August the total number of title deeds issued for GCC citizens, in keeping with the regulations of property titling in the Sultanate, reached to (38) deeds; (15) title deeds for citizens of the Kuwait who came first by a percentage of (39%), followed by citizens of United Arab Emirates by (13) title deeds and (34%). Then came Bahraini citizens by (4) title deeds and (11%), and finally citizens of Saudi Arabia and Qatar citizens by (3) title deeds for each which make (8%). He pointed out that the rate of GCC citizens titling concentrated in South Al Batinah and Dhofar governorates by (24%) in each governorate.
Governorate of Muscat Tops Mortgage Transactions
HE pointed out that the total value of the registered mortgage contracts during the same period reached to RO (1,090,375,511) through concluding (1946) mortgage transactions at the level of Sultanate, while fees collected amounted to more than RO (817,164). Muscat governorate formed the highest percentage in mortgage compared to the rest of the governorates of the Sultanate with (681) transactions.
HE Abdullah bin Salem Al Mukhaini, Secretary of Real Estate Registry, concluded his statement saying that the total value of the exchange contracts reached RO (524,287) while fees collected amounted RO (10,000) through the conclusion of (62) exchange contract of which North Al Batinah and Al Dakhiliyah governorate formed the heights percentage at the level of the Sultanate by (13) contracts for each. Moreover, inheritance contracts reached to (524) contracts including, (205) contracts in North Al Batinah governorate which formed the highest percentage, while grant contracts amounted to (1517) contracts and Muscat governorate scored the highest percentage by (387) contracts. Furthermore, mortgage redemption contracts amounted to (882) at the level of all governorates and Muscat governorate represented the highest percentage by (418) contracts. On the other hand, (634) dividing contracts were concluded and North Al Batinah governorate had the highest rate by (270) contracts. Finally, deed stamping contracts reached to (141) of which North Al Batinah governorate formed the highest percentage by (50) contracts and utilization contracts reached to (168) of which Al Dakhiliyah governorate represented the highest percentage by (32) contracts.