Real estate trading during Nov exceeds RO 177 million

MUSCAT: Abdullah bin Salim al Mukhaini, Secretary of the Real Estate Registry at the Ministry of Housing, said that the value of traded contracts in real estate sector reached RO 177,320,000 by the end of November while the collected fees stood at RO 5,799,000. He pointed out that the total number of real estate transactions amounted to 30,020 including sale, will, inheritance, exchange, mortgage and release of mortgage transactions, besides visas.

He added that the number of sale contracts during November exceeded 4,918 worth of RO 77,135,000 at the level of the Sultanate’s governorates while the collected fees from such sale contracts during November 2017 reached more than RO 3,279,000.

Al Mukhaini added that the Governorate of North Al Batinah recorded the highest rate of real estate sale contracts with 1,133 contracts followed by the Governorate of South Al Batinah with 866 contracts, 660 sale contracts were signed in the Governorate of Muscat, 620 contracts in the Governorate of Al Dakhiliyah, 421 contracts in Governorate of North Al Sharqiyah, 376 contracts in the Governorate of South Al Sharqiyah, 309 contracts in the Governorate of Dhofar, 257 contracts in the Governorate of Al Dhahirah, 134 contracts in the Governorate of Al Buraimi, 113 contracts in the Governorate of Al Wusta and 29 contracts in the Gover- norate of Musandam.

Al Mukhaini added that 21,268 title deeds were issued in November 2017 including 3,900 in the Governorate of Muscat, 1,031 in the Governorate of Dhofar, 179 in the Governorate of Musandam, 675 in the Governorate of North Al Batinah, 3,320 in the Governorate of Al Dakhiliyah, 4,332 in the Governorate of North Al Batinah, 2,842 in the Governorate of South Al Batinah, 1,685 in the Governorate of North Al Sharqiyah, 1,497 in the Governorate of Al Dhahirah, 265 in the Governorate of Al Wusta, besides the GCC citizens’ title deeds. The number of new land plots registered for the first time stood at 4,626.

The Secretary of the Real Estate Reg- istry explained that a total of 1,416 mortgage contracts worth RO 99,163,000 were signed across the Sultanate during November 2017 with fees worth RO 608,000. He said that the value of exchanged contracts stood at more than RO 1 million and the collected fees for the same amounted to RO 20,000 through 134 exchanged contracts.

The Governorate of North Al Batinah reached 30 exchanged contracts, which is the highest percentage among the other governorates.

As for inheritance contracts, they stood at 608, as the Governorate of North Al Batinah registered the highest percentage by 263 contracts.