A report on real estate trading during last May stated that the governorate of North Al Batinah toped real estate trading regarding the contracts of Sale, inherent, dividing, swap, and deed stamping at level of the governorate while Muscat governorate toped on mortgage, mortgage redemption, and grant contracts. The Wilayats of Salalah, Al Seeb, and Saham toped GCC citizens’ property ownership as Kuwait citizens topped 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 May reached over than RO (252) Mln while the collected fees totaled over than RO (7,831,000). HE pointed out that the real estate activity involved (33,279) 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 Hashami said that the total value of sale transactions amounted to RO (118,181,000) through (5,920) sale transactions at the level of the Sultanate’s governorates, while more than RO (4,000,000) were collected as sale transactions fees.
The Deputy 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 (1,267) sale transactions, followed by Muscat with (1,078) transactions. Then, South Al Batinah came third by (1,045) sale transactions followed by Al Dakhiliyah with (710) sale transactions, while South Al Sharqiyah witnessed (438) transactions and North Al Sharqiyah (424) sale transactions. Next came Al Dhahirah with (316) transactions followed by Dhofar with (314) sale transactions, Al Wusta with (154) sale transactions, then Al Buraimi (138) transactions and finally Musandam governorate with (36) sale transactions.
(21217) Tile Deeds Issued
Dr. Ali Al Hashami pointed out that during the month of May (21,217) title deeds were issued included GCC citizens titling as (4,271) title deeds in Muscat, (4,014) in North Al Batinah, (3,951) in South Al Batinah, (2,850) in Al Dhakhiliyah, (1,577) in North Al sharqiyah, (1,234) in Al Dahirah, (1,202) in South Al Sharqiyah, (953) in Dhofar, (443) in Al Wusta, (367) title deeds issued in Al Buraimi governorate, (355) title Musandam deeds issued in. Moreover, the number of new land plots registered for the first time totaled to (5,185) plots.
(123) Title Deeds Issued for GCC Citizens
The Deputy Secretary of real estate registry, noted that during the month of May the total number of title deeds issued for GCC citizens, in keeping with the regulations of property titling in the Sultanate, reached to (123) deeds; (78) title deeds for Kuwait citizens who came first by a percentage of (63%), followed by the citizens of United Arab Emirates by (30) title deeds and (24%). Then came Saudi Arabia citizens by (10) title deeds and (8%), followed by Bahrain citizens by (3) title deeds and (2%) and finally Qatar citizens by (2) title deeds and (2%). He pointed out that the rate of GCC citizens titling concentrated in Muscat governorate by (40) title deeds and (33%).
Governorate of Muscat Tops Mortgage Transactions
Al Hashami said that the total value of mortgage transactions amounted to RO (133,161,000) through (1,933) mortgage transactions at the level of the Sultanate’s governorates, while RO (638,000) were collected as mortgagee transactions fees with (591) 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 (1,000,000) while fees collected amounted more than RO (22,000) through the conclusion of (75) swap contract of which Al Dhakhiliyah governorate formed the heights percentage at the level of the Sultanate by (17) contracts.
Moreover, inheritance contracts reached to (554) contracts including, (231) contracts in North Al Batinah governorate which formed the highest percentage, while grant contracts amounted to (1,701) contracts and Muscat governorate scored the highest percentage by (374) contracts.
Furthermore, mortgage redemption contracts amounted to (806) at the level of all governorates and Muscat governorate represented the highest percentage by (280) contracts. On the other hand, (650) dividing contracts were concluded and North Al Batinah governorate had the highest rate by (227) contracts.
Finally, deed stamping contracts reached to (177) of which North Al Batinah Governorate formed the highest percentage by (63) contracts and utilization contracts reached to (369) of which South Al Batinah Governorate represented the highest percentage by (138) contracts.