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Ministry of Housing: Over RO (196) Million the Value of Real Estate Trading Last June

Posted by Raja Sheraz on July 27, 2017
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A report on real estate trading during last June stated that the governorate of Muscat toped real estate trading regarding the contracts of Sale, mortgage, mortgage redemption and grant contracts at level of the governorate while North Al Sharqiyah governorate toped on swap. The Wilayats of Salalah, and Sohar toped GCC citizens’ property ownership as Kuwait citizens toped GCC property ownership according to the statement of Dr. Ali bin Azzan Al Hashami, Deputy Secretary of the Real Estate Registry at the Ministry of Housing.

Dr. Ali Al Hashami stated that the value of contracts traded during last June reached over than RO (196,287,000) while the collected fees totaled over than RO (4,463,000). Dr. Ali pointed out that the real estate activity involved (17,974) transactions during the same month, including transactions of sale, grant, inheritance, swap, mortgage, mortgage redemption, utilization, and deed stamping.

 

Muscat Tops Sale Transactions

Al Hashami said that the total value of sale transactions amounted to RO (67,284,000) through (3,040) sale transactions at the level of the Sultanate’s governorates, while more than RO (2,500,000) were collected as sale transactions fees.

The Deputy Secretary of the Real Estate Registry added that sale transactions in Muscat governorate formed the highest percentage compared to the rest of the governorates of the Sultanate last month, reaching to (622) sale transactions, followed by North Al Batinah with (610) transactions. Then, South Al Batinah came third by (546) sale transactions followed by Al Dakhiliyah with (404) sale transactions, while North Al Sharqiyah witnessed (203) transactions and South Al Sharqiyah (199) sale transactions. Next came Dhofar with (164) transactions followed by Al Dhahirah with (149) sale transactions, Al Buraimi with (75) sale transactions, then Al Wusta (52) transactions and finally Musandam governorate with (16) sale transactions.

 

(11577) Tile Deeds Issued

Dr. Ali Al Hashami pointed out that during the month of June (11,577) title deeds were issued included GCC citizens titling as (2,341) title deeds in Muscat, (2,257) in North Al Batinah, (2,003) in South Al Batinah, (1,694) in Al Dhakhiliyah, (866) in North Al sharqiyah, (715) in South Al Sharqiyah, (711) in Al Dahirah, (507) in Dhofar, (170) in Musandam, (167) title deeds issued in Al Buraimi governorate, (146) title deeds issued in Al Wusta. Moreover, the number of new land plots registered for the first time totaled to (3,010) plots.

 

(68) Title Deeds Issued for GCC Citizens

The Deputy Secretary of real estate registry, noted that during the month of June the total number of title deeds issued for GCC citizens, in keeping with the regulations of property titling in the Sultanate, reached to (68) deeds; (33) title deeds for Kuwait citizens who came first by a percentage of (49%), followed by the citizens of United Arab Emirates by (28) title deeds and (41%). Then came Saudi Arabia citizens by (4) title deeds and (6%), followed by Qatar citizens by (2) title deeds and (3%) and finally Bahrain citizens by (1) title deeds and (1%). He pointed out that the rate of GCC citizens titling concentrated in North Al Batinah governorate by (15) title deeds and (22%).

 

Governorate of Muscat Tops Mortgage Transactions

Al Hashami said that the total value of mortgage transactions amounted to RO (122,500,000) through (1,202) mortgage transactions at the level of the Sultanate’s governorates, while RO (593,000) were collected as mortgagee transactions fees with (346) transactions in Muscat.

 

Dr. Ali bin Azzan Al Hashami, Deputy Secretary of the Real Estate Registry, concluded his statement saying that the total value of the swap contracts reached more than RO (6,494,000) while fees collected amounted more than RO (129,000) through the conclusion of (46) swap contract of which North Al Sharqiyah governorate formed the heights percentage at the level of the Sultanate by (11) contracts.

Moreover, inheritance contracts reached to (344) contracts including, (196) contracts in North Al Batinah governorate which formed the highest percentage, while grant contracts amounted to (775) contracts and Muscat governorate scored the highest percentage by (169) contracts.

Furthermore, mortgage redemption contracts amounted to (456) at the level of all governorates and Muscat governorate represented the highest percentage by (177) contracts. On the other hand, (242) dividing contracts were concluded and South Al Batinah governorate had the highest rate by (46) contracts.

Finally, deed stamping contracts reached to (155) of which Muscat governorate formed the highest percentage by (66) contracts and utilization contracts reached to (137) of which Al Dakhiliyah governorate represented the highest percentage by (44) contracts.

https://eservices.housing.gov.om/eng/Pages/NewsDetails.aspx?newsID=784
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