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Ministry of Housing: Over RO 175 Million the Value of Real Estate Trading Last December

Posted by Raja Sheraz on January 16, 2017
| News
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A report on real estate trading in the Ministry of Housing during the month of December pointed that Muscat topped other governorates in terms of sale, mortgage and mortgage redemption contracts as well as the deeds issued, while North Al Batinah came first with regard to grant, inheritance, deed stamping and division contracts.  In addition, Al Dhahirah governorate came on top in terms of utilization contracts. South Al Batinah came first with regard to swap contracts.

 Real estate ownership by GCC citizens concentrated the most in the wilayat of Salalah during that month, and UAE 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 December amounted to RO (175,754,317) while the collected fees totaled RO (5,99,515). HE pointed out that the real estate activity involved (25935) transactions, including transactions of sale, grant, inheritance, exchange, mortgage, mortgage redemption, utilization, division and deed stamping.

 

Governorate of Muscat Tops Sale Transactions

HE pointed out that the total value of the registered sale contracts during the same period reached to RO (74,731,299) through concluding (3774) sale transactions at the level of Sultanate, while fees collected amounted to RO (2,841,965).

 Muscat governorate formed the highest percentage in sale compared to the rest of the governorates of the Sultanate with (773) transactions followed by North Al Batinah with (767) transactions. Then, South Al Batinah came third by (661) sale transactions followed by Al Dakhiliyah with (370) sale transactions, while North Al Sharqiyah witnessed (344) transactions and South Al Sharqiyah (245) sale transactions. Next came Al Dhahirah with (201) transactions followed by Dhofar with (199) sale transactions, Al Buraimi with (108) sale transactions, then Al Wusta (87) transactions and finally Musandam governorate with (19) sale transactions.

(17462) Title Deeds Issued

Al Mukhaini pointed out that during the month of December (17462) title deeds were issued included GCC citizens titling as (3588) title deeds in Muscat, (3316) in Al North Al Batinah, (2807) in South Al Batinah, (2128) in Al Dhakhiliyah, (1171) in South Al sharqiyah, (1495) in North Al Sharqiyah, (1492) in Al Dahirah (620) in Dhofar, (365) in Al Buraimi, (256) title deeds issued in Al Wusta governorate, (223) title deeds issued in Musandam. Moreover, the number of new land plots registered for the first time totaled to (4759) plots.

140 Title Deeds Issued for GCC Citizens

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 (140) deeds; (88) title deeds for citizens of the United Arab Emirates who came first by a percentage of (63%), followed by citizens of Kuwait by (44) title deeds and (31%). Then came Bahraini citizens by (4) title deeds and (3%), followed by citizens of Saudi Arabia and Qatar citizens by (2) title deeds for each and (1%). He pointed out that the rate of GCC citizens titling concentrated in North Al Batinah governorate by (41%).

Governorate of Muscat Tops Mortgage Transactions

His Excellency said that the total value of mortgage transactions amounted to RO (99,896,649) through (1374) mortgage transactions at the level of the Sultanate’s governorates, while RO (489,749) were collected as mortgagee transactions fees with (453) 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 (1,126,369) while fees collected amounted RO (22,527) through the conclusion of (58) exchange contract of which South Al Batinah governorate formed the heights percentage at the level of the Sultanate by (12) contracts. Moreover, inheritance contracts reached to (437) contracts including, (178) contracts in North Al Batinah governorate which formed the highest percentage, while grant contracts amounted to (1440) contracts and North Al Batinah governorate scored the highest percentage by (271) contracts. Furthermore, mortgage redemption contracts amounted to (634) at the level of all governorates and Muscat governorate represented the highest percentage by (231) contracts. On the other hand, (292) dividing contracts were concluded and North Al Batinah governorate had the highest rate by (96) contracts. Finally, deed stamping contracts reached to (156) of which North Al Batinah governorate formed the highest percentage by (50) contracts and utilization contracts reached to (308) of which Al Dhahirah governorate represented the highest percentage by (209) contracts.

https://eservices.housing.gov.om/eng/Pages/NewsDetails.aspx?newsID=748

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