Value of traded real estate contracts at RO 235 mn in Dec 2018

MUSCAT: Abdullah bin Salim al Mukhaini, Secretary of the Real Estate Registry at the Ministry of Housing, said that the value of traded contracts during December 2018 stood at RO 235,308,000, while the collected fees amounted to RO 7,644,000. He added that the real estate activity involved 34,698 transactions that included sale, grant, inheritance, exchange, mortgage and mortgage redemption, usufruct and division transactions.

Al Mukhaini added that the total value of sale contracts stood at RO 126,549,000 through 4944 sale transactions at the level of the Sultanate’s governorates while the fees collected hit RO 4,497,000.

He pointed out that the Governorate of North Al Batinah recorded the highest number of sale contracts compared to other governorates during December 2018 to 974 sale contracts, followed by the

Governorate of South Al Batinah with 896, the Governorate of Muscat with 872, Al Dakhiliyah with 611, South Al Sharqiyah with 434, North Al Sharqiyah with 389, Al Dhahirah with 317, Dhofar with 203 and Al Buraimi with 128, Al Wusta with 94 and Musandam with 26 sale contracts.

Al Mukhaini added that 24,498 title deeds were issued during December 2018 including those issued for the GCC citizens. The Secretary of the Real Estate Registry at the Ministry of Housing added that the total value of exchange contracts reached over RO 1,343,000 while the fees collected from such contract transactions stood at more than RO 26,000, through 146 relevant contracts.

The total value of mortgage contracts stood at more than RO 107,415,000 through concluding contracts at the level of governorates in the Sultanate. The fees collected from mortgage contracts hit RO 776,000. Of this, 81 plots were issued to the GCC citizens, he said.