A report on real estate trading in the Ministry of Housing during the month of January pointed that North Al Batinah topped other governorates in terms of sale, grant, inheritance, and division contracts as well as the deeds issued, while Muscat came first with regard to mortgage and mortgage redemption contracts. In addition, Al Dakhiliyah governorate came on top in terms of swap contracts. Al Dahirah came first with regard to utilization contracts.
Real estate ownership by GCC citizens concentrated the most in the wilayat of Sohar 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 January amounted to RO (235,000,000) while the collected fees totaled RO (6,815,000). HE pointed out that the real estate activity involved (32971) transactions, including transactions of sale, grant, inheritance, swap, mortgage, mortgage redemption, utilization, division and deed stamping.
Governorate of North Al Batinah Tops Sale Transactions
HE pointed out that the total value of the registered sale contracts during the same period reached to RO (106,670,000) through concluding (5528) sale transactions at the level of Sultanate, while fees collected amounted to RO (4,3701,000).
North Al Batinah governorate formed the highest percentage in sale compared to the rest of the governorates of the Sultanate with (1113) transactions followed by Muscat with (997) transactions. Then, South Al Batinah came third by (960) sale transactions followed by Al Dakhiliyah with (719) sale transactions, while North Al Sharqiyah witnessed (467) transactions and Dhofar (396) sale transactions. Next came South Al Sharqiyah with (345) transactions followed by Al Dhahirah with (328) sale transactions, Al Wusta with (122) sale transactions, then Al Buraimi (98) transactions and finally Musandam governorate with (37) sale transactions.
(21336) Title Deeds Issued
Al Mukhaini pointed out that during the month of January (21336) title deeds were issued included GCC citizens titling as (4003) title deeds in Muscat, (1076) in Dhofar, (2539) in South Al Batinah, (4061) in Al North Al Batinah, (1431) in South Al sharqiyah, (1942) in North Al Sharqiyah, (3129) in Al Dhakhiliyah (1969) in Al Dahirah, (454) in Al Buraimi, (378) title deeds issued in Musandam governorate, (354) title deeds issued in Al Wusta. Moreover, the number of new land plots registered for the first time totaled to (5386) plots.
146 Title Deeds Issued for GCC Citizens
Secretary of real estate registry, noted that during the month of January the total number of title deeds issued for GCC citizens, in keeping with the regulations of property titling in the Sultanate, reached to (146) deeds; (83) title deeds for citizens of the United Arab Emirates who came first by a percentage of (57%), followed by citizens of Kuwait by (49) title deeds and (34%). Then came Qatar citizens by (8) title deeds and (5%), followed by Bahraini citizens by (4) title deeds and (3%) and citizens of Saudi Arabia by (2) title deeds and (1%). He pointed out that the rate of GCC citizens titling concentrated in North Al Batinah governorate by (45%).
Governorate of Muscat Tops Mortgage Transactions
His Excellency said that the total value of mortgage transactions amounted to RO (126,376,000) through (1726) mortgage transactions at the level of the Sultanate’s governorates, while RO (613,000) were collected as mortgagee transactions fees with (516) transactions.
HE Abdullah bin Salem Al Mukhaini, Secretary of Real Estate Registry, concluded his statement saying that the total value of the swap contracts reached RO (2,000,000) while fees collected amounted RO (40,000) through the conclusion of (88) swap contract of which Al Dakhiliyah governorate formed the heights percentage at the level of the Sultanate by (16) contracts. Moreover, inheritance contracts reached to (527) contracts including, (192) contracts in North Al Batinah governorate which formed the highest percentage, while grant contracts amounted to (2053) contracts and North Al Batinah governorate scored the highest percentage by (404) contracts. Furthermore, mortgage redemption contracts amounted to (789) at the level of all governorates and Muscat governorate represented the highest percentage by (290) contracts. On the other hand, (493) dividing contracts were concluded and North Al Batinah governorate had the highest rate by (146) contracts. Finally, deed stamping contracts reached to (161) of which Al Dhahirah governorate formed the highest percentage by (35) contracts and utilization contracts reached to (362) of which Al Dhahirah governorate represented the highest percentage by (179) contracts.