A report issued by the Ministry of Housing on real estate transactions during the period from January to March of this year revealed that the governorate of North Al Batinah was the highest in terms of sale, grants, inheritance, deed stamping and division contracts at the level of all governorates, while the governorate of Muscat, was highest in mortgage and mortgage redemption. During the same period, the most GCC citizens’ ownership was in the wilayats of Suhar, Salalah and Saham. The percentage of United Arab Emirates citizens was highest among other GCC citizens according to the statement of HE Abdullah bin Salem Al Mukhaini, Secretary of Real Estate Registry in the Ministry of Housing.
Al Mukhaini said that the value of contracts traded during the period from January to March of this year amounted to more than RO 776,287,000, while the fees collected amounted to more than RO 22,719,000.
North Al Batinah Governorate the highest in sale transactions
The Secretary of Real Estate Registry said that the total value of sale contracts amounted to more than RO 257,524,000 through 15,820 transactions at the level of the Sultanate governorates, while the fees collected from sale transactions amounted to more than RO 10,756,000.
HE added that the sale transaction in North Al Batinah governorate recorded the highest percentage compared to the rest of the Sultanate’s governorates during the same period. The number of transactions reached 3,623 sales, followed by South Al Batinah governorate with 2,813 sales, then Muscat with 2,470, then Al Dakhiliyah by 1,928 sales, South Al Sharqiyah by 1,150, North Al Sharqiyah with 1,083, Dhofar by 962 sales, 908 sales in Al Dhahira, 424 in Al Buraimi, 353 in Al Wusta, and finally Musandam governorate with 106 sale transactions.
76,050 title deeds issued
Al Mukhaini said that during the period from January to March of this year, 76,050 title deeds were issued, including those issued to GCC nationals. The number of land plots registered for the first time reached 18,381 plots at a rate of 15,709 residential land, 508 residential-commercial, 253 commercial land, 538 industrial land, 1,329 agricultural land and 44 government land.
390 titles issued to GCC Citizens
The Secretary of Real Estate Registry in the Ministry of Housing highlighted that the total number of property titles issued to GCC nationals according to the controls of ownership of real estate in the Sultanate during the period from January to March of this year amounted to 390 title deeds. United Arab Emirates citizens ranked first with 184 owners and 47%, followed by citizens of the State of Kuwait with 119 owners 31%, followed by citizens of the State of Qatar with 50 owners 13%, citizens of the Kingdom of Saudi Arabia with 22 owners 6% and finally citizens of the Kingdom of Bahrain with 15 owners, i.e. 4%. Ownership by GCC citizens concentrated more in the North Al Batinah governorate with 132 owners and 34%.
Muscat Governorate the highest in mortgage transactions
HE said that the total value of mortgage contracts amounted to more than RO 514,171,000 through 4,209 transactions at the Sultanate governorates level, while fees collected from mortgage amounted to more than RO 2,733,000. The highest percentage of mortgage transactions was in the governorate of Muscat compared to other governorates of the Sultanate, which totaled 1,384 transactions.
HE Secretary of Real Estate Registry added at the end his statement that the value of swap contracts was more RO 4,591,000 and the fees received were more than RO 91,000 through the conclusion of 434 swap contracts. North Al Sharqiyah was highest at the Sultanate level by 84 swap contract. As for the inheritance, 2,030 contracts were registered, of which the highest share was in North Al Batinah governorate by 1,095 contract. The highest percentage in grants contracts was in North Al Batinah governorate with 1,030 contracts from 5,277 contracts in total. As for mortgage redemption, 2,263 contracts were concluded during this period, with the governorate of Muscat recording the highest percentage with 728 contract. In terms of land division, the total number of contracts at the level of the Sultanate governorates was 1,655 contracts, most of which was in the governorate of North Al Batinah with 516 contracts. Deed stamping contracts made through the same period reached 763, with the highest percentage recorded in the governorate of North Al Batinah with 218 contracts. Finally, utilization totaled 1,450 contracts and the highest proportion was in the governorate of Al Dhahira by 357 contracts.