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Ministry of Housing: Over RO 198 Mln the Value of Real Estate Trading Last July

Posted by Raja Sheraz on August 26, 2017
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A report on real estate trading during last July stated that the governorate of North Al Batinah topped real estate trading regarding the contracts of Sale, inherent and swap and at the level of the governorate while Muscat governorate topped on the mortgage, mortgage redemption and grant contracts. The Wilayat of Salalah, Al Seeb, and Bushar topped GCC citizens’ property ownership as Kuwait citizens topped GCC property ownership according to the statement of HE Abdullah bin Salim Al Mukhaini, Secretary of Real Estate Registry at the Ministry of Housing, HE Abdullah bin Salim Al Mukhaini, Secretary of Real Estate Registry at the Ministry of Housing stated that the value of contracts traded during last July reached over than RO (198) Mln while the collected fees totaled over than RO (6,282,000). HE pointed out that the real estate activity involved (28,548) transactions during the same month, including transactions of sale, grant, inheritance, exchange, mortgage, mortgage redemption, utilization, and deed stamping.

 

North Al Batinah Tops Sale Transactions

Al Mukhaini said that the total value of sale transactions amounted to RO (92,966,000) through (4,871) sale transactions at the level of the Sultanate’s governorates, while more than RO (3,587) 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 (1,023) sale transactions, followed by Muscat with (852) transactions. Then, South Al Batinah came third by (800) sale transactions followed by Al Dakhiliyah with (605) sale transactions, while South Al Sharqiyah witnessed (362) transactions and North Al Sharqiyah (342) sale transactions. Next came Dhofar with (330) transactions followed by Al Dhahirah with (297) sale transactions, Al Wusta with (118) sale transactions, then Al Buraimi with (110) transactions and finally Musandam governorate with (32) sale transactions.

18511 Title Deeds Issued

His Excellency pointed out that during the month of July (18,511) title deeds were issued include GCC citizens’ ownership, including (3,476) title deeds in Muscat, (3,929) in North Al Batinah, (835) in Dhofar, (277) Musandam, (397) in Al Buraimi, (2,382) in Al Dhakhiliah, (3,676) in North Al Batinah, (2,963) in South Al Batinah, (1,231) in South Al Sharqiyah, (1,679) North Al Sharqiyah, (1,348) in Al Dahirah and (247) title deeds issued in Al Wusta governorate. Moreover, the number of new land plots registered for the first time last July totaled (5,304) land plot including (4,337) plots for residential use, (244) plots for commercial residential use, (98) plots for commercial use, (85) plots for industrial use, (516) plots for agricultural use and (24) plots for government use.

 

(99) Title Deeds Issued for GCC Citizens

The Secretary of real estate registry, noted that during the month of July the total number of title deeds issued for GCC citizens, in keeping with the regulations of property titling in the Sultanate, reached to (99) deeds; (55) title deeds for Kuwait citizens who came first by a percentage of (56%), followed by the citizens of United Arab Emirates by (36) title deeds and (36%). Then came Qatar citizens by (5) title deeds and (5%) and finally Bahrain citizens by (3) title deeds and (3%). He pointed out that the rate of GCC citizens titling concentrated in Muscat governorate by (31) title deeds and (31%).

 

Governorate of Muscat Tops Mortgage Transactions

Al Mukhaini said that the total value of mortgage transactions amounted to RO (104,364,000) through (1,390) mortgage transactions at the level of the Sultanate’s governorates, while RO (509,000) were collected as mortgagee transactions fees with (424) transactions in Muscat.

HE Abdullah bin Salim Al Mukhaini, Secretary of the Real Estate Registry, concluded his statement saying that the total value of the swap contracts reached more than RO (677,000) while fees collected amounted more than RO (13,000) through the conclusion of (60) swap contract of which North Al Batinah governorate formed the heights percentage at the level of the Sultanate by (18) contracts.

Moreover, inheritance contracts reached to (522) contracts including, (217) contracts in North Al Batinah governorate which formed the highest percentage, while grant contracts amounted to (1,623) contracts and Muscat governorate scored the highest percentage of (410) contracts.

Furthermore, mortgage redemption contracts amounted to (634) at the level of all governorates and Muscat governorate represented the highest percentage of (233) contracts. On the other hand, (580) dividing contracts were concluded and Muscat governorate had the highest rate by (187) contracts.

Finally, deed stamping contracts reached to (182) of which North Al Batinah governorate formed the highest percentage by (65) contracts and utilization contracts reached to (175) of which South Al Dakhiliyah governorate represented the highest percentage by (50) contracts.

https://eservices.housing.gov.om/eng/Pages/NewsDetails.aspx?newsID=785

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