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Over than RO 1 Billion the Total Value of Real Estate Trading During the First Half of the Year 2018

Posted by Raja Sheraz on July 29, 2018
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His Excellency Abdullah bin Salim Al-Mukhaini, Secretary of the Real Estate Registry in the Ministry, stated that real estate activity during the first half of the current year amounted  to more than RO (1,413,645,000), compared to the total transactions during the same period of last year 2017, valued more than RO (1,420,146,000) by a decrease of (5%), while fees collected amounted during the same period of this year more than RO (43,968,000) and RO (42,620,000) by increase of (3%) during the same period of last year 2017.

HE stated that the real estate transactions at the level of governorates of the Sultanate during the first half of 2018 reached to (208966) transactions, including 39687 registered in the Muscat governorate ,11169 in Dhofar, 31459 in South Al Batinah, 43619 in North Al Batinah,13090 in South Al Sharqiyah 16110 North Al Sharqiyah, 27932 in Al Dakhiliyah, 17003 in Al Dhahira, 4389 in Al Buraimi, 1658 in Musandam, and 2850 in Al Wusta.

HE pointed out that the number of title deeds issued during the first half of 2018 amounted to 144677 compared 115910 title deeds issued during 2017, with an increase of 25 %. In addition, the number of new land plots registered for the first time during the same period reached 3395 compared to 30827 plots registered during the first half of 2017 with a decrease of 10 %. Al Mukhaini added that the number of title deeds issued for the GCC citizens, in keeping with the regulations of property titling in the Sultanate, amounted to 815 compared to 926 deeds during 2017 with a decrease by 12%.

HE added that the number of sale contracts traded during the first half of 2018 amounted to 30042 with a monetary value amounting to over than RO 486,108,000 compared to 30635 contracts worth RO 608,367,000 during 2017 with a decrease of 2% as for the number of contracts. Moreover, the total fees collected during the first half of 2018 amounted more than RO 20,883,000 compared to more than RO 23,344,000 collected during 2017 with a decrease of value by 11%.

The Secretary of real estate registry added that the number of completed mortgage contracts transactions during the same period of 2018 reached 8794 with a total value of more than RO 919,904,000 and a total amount of more than RO 5,500,000 collected fees compared to 10540 contracts worth more than RO 797,682,000 and a total amount of RO 3,810,000 as collected fees during 2017 with a decrease in contracts number by 17% with increase in the value by 15% and increase in collected fees by 47%.

HE Abdullah bin Salem Al Mukhaini Secretary of Land Registry concluded his statement saying that the Ministry witnessed an increase in swap contracts number by 79% and decrease in the total value and fees collected by 46% compared to 2017 as the total number of swap contracts during the same period of 2018 reached 786 contracts with a total value of more than RO 7,631,000 while collected fees worth RO 152,436,000, compared to 438 contract in 2017 with value of more than RO 14,96,000 with RO 281,630 as collected fees.

https://eservices.housing.gov.om/eng/Pages/NewsDetails.aspx?newsID=842

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