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Ministry of Housing: Over than OMR 155 Mln the Value of Real Estate Trading During Last August

Posted by Raja Sheraz on September 17, 2019
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A report issued by the Ministry of Housing’s real estate transactions in August  of this year revealed that the governorate of North Al Batinah witnessed the highest in real estate transactions in sale, donation, inheritance and deed stamping contracts at the Sultanate governorates’ level, while Muscat was the highest in mortgage, mortgage redemption and deeds issued, according to a statement by His Excellency Abdullah bin Salim Al Mukhaini, Secretary of the Real Estate Registry in the Ministry.

HE added that the value of contracts traded during the month of August amounted over than OMR 155,222,000 while the collected fees exceeded OMR 4,473,000 and the total number of trading activities 23,210 including sale, donation, inheritance, swap, mortgage, mortgage redemption, utilization, division, and deed stamping.

 

North Al Batinah the Highest in Sales

Al Mukhaini added that the total value of sale contracts valued over than OMR 15,991,000 through 3,641 sale transactions in the Sultanate governorates, while the fees collected from sales amounted to more than OMR 2,367,000.

He pointed out that the sales transactions in North Al Batinah governorate recorded the highest percentage compared to the rest of the Sultanate governorates last month, with a total of 747 sales, followed by South Al Batinah with 613 transactions, then Muscat governorate with 592 sale transactions, then Al Dakhiliyah with 450 sales, South Al Sharqiyah with 309, then North Al Sharqiyah  with 273, Dhofar with 252 sales, Al Dhahirah with 207, Al Buraimi with 91, Al Wusta 86 and finally 21 sale transactions  recorded in Musandam.

15,428 Title Deed Issued

HE Abdullah Al Mukhaini said that during last  August, 15,428 titles were issued, including those issued to GCC nationals including (2,976) in Muscat governorate, (2,822) in North Al Batinah governorate, (2,248) in South Al Batinah governorate, (2,446) in Al Dakhiliyah governorate, (1,266) in Al Dhairah governorate, (1,240) in North Al Sharqiyah governorate, (916) in South Al Sharqiyah governorate, (668) in Dhofar governorate, (337) in Al Buraimi governorate, (262) in Musandam governorate and (274) in Wusta governorate. The total number of new plots registered for the first time was (2,893 plots of land, including (2,220) residential land, (93) residential-commercial land, (34) commercial land, (53) industrial land, (486) agricultural land and (7) plots for government use.

His Excellency Abdullah bin Salim Al-Mukhaini, Secretary of the Real Estate Registry in the Ministry of Housing highlighted that the value of swap contracts was more than OMR 1,662,000 and the fees collected were more than OMR 33,000 through the registration of 83 swap contracts, most of which were Al Dakhiliyah with 16 contracts which is the highest percentage among other governorates. As for inheritance contracts, 478 contracts were made and the share of North Al Batinah was highest with 177 inheritance contracts.

Moreover, 1,223 was the number of donation contracts concluded, with the largest share being that of North Al Batinah with 255 contracts. A total of 573 mortgage redemption were concluded at the level of the governorates and the highest percentage was that of Muscat governorate with 209 contracts. Moreover, 442 division contracts were registered in the Sultanate governorates and Al Dahirah come first by 183 contract. In addition, as for deed stamping contracts, 103 transactions were made, most of which were in North Al Batinah with 19 contracts. while 182 utilization contracts were registered and Muscat governorate scored the highest number by 37 contract.

Muscat The Highest in Mortgage Transactions

Al Mukhaini said that the total value of mortgage contracts amounted to more than OMR 101,568,000 through 1,057 mortgage transactions made at the level of the Sultanate, while the fees collected from mortgage amounted to more than OMR 690,000 and the highest number of mortgage transactions was registered in Muscat with 295 transactions.

HE the Secretary of Real Estate Registry pointed out that a total of 57 title deeds were issued to GCC citizens during the month of August in line with the controls of ownership of real estate in the Sultanate. The citizens of Kuwait came first with 37 ownerships, followed by State of United Arab Emirates with 12 ownerships, citizens of KSA with 3 ownerships, Bahrain with 3 ownership and Qatar citizens with 2 ownerships.

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