Friday 30 / May / 2025
Muscat: Real estate transactions worth over OMR192 million have been made in the Sultanate of Oman by the end of August 2022, and more than 22,000 title deeds have been issued during the same period.
According to a report issued by the Ministry of Housing and Urban Planning, the value of real estate transactions in the Sultanate till August this year has exceeded OMR192 million, including OMR107 million in mortgages, OMR82 million in sales contracts and OMR47 million in swap contracts. The fees collected from these legal transactions amounted to more than OMR5 million, of which OMR579,000 came from real estate mortgages, OMR47,000 from swap contracts and OMR2 million from sales contracts.
The report further said that the total legal transactions reached 12,830, of which 6,463 were sales contracts, 112 swap contracts, 2,056 mortgage contracts, 1,859 gift contracts, 537 inheritance contracts, 998 pledge contracts and 805 division contracts.
The report added that the number of title deeds executed during the period reached 22,775 across all governorates in the Sultanate, including 4,420 in the Muscat Governorate, 1,614 in Dhofar Governorate, 199 in Musandam Governorate, 601 in Buraimi Governorate, 2,738 in the Governorate of Al Dakhiliyah, 390 in North Al Batinah Governorate, 3,573 titles in the Governorate of South Al Batinah, 1,913 in South Sharqiyah Governorate, 1,942 in North Al Sharqiyah Governorate, 1,612 in Al Dhahirah Governorate and 259 in Al Wusta Governorate, besides 110 titles issued in favour of citizens of the Gulf Cooperation Council (GCC) countries, of which the highest concentration was in the Governorate of Muscat, followed by the Governorate of North Al Batinah and South Al Batinah. The total number of land plots registered for the first time reached 4,857 plots.
As for requests to register property, the number of requests during the same period was 1,163, of which 626 were owned and 794 requests were inspected.
The ministry also witnessed many initiatives during the period, including the offering of 22 industrial, residential and commercial lands for electronic auction and development under the usufruct system in 6 different states, and 7 lands for bidding for gas stations under the same initiative. The ministry also saw requests for a ministerial decision to standardise fees for registration and documentation of actions, and requests for proof of ownership for Sorouh projects, while the ministry continued to grant residential lands to those entitled through the ‘Choose Your Land’ service.
In the field of communication and participation, Dr Mohammed bin Ali Al-Mutawa, Undersecretary of the Ministry for Urban Planning, visited Musandam Governorate to assess the damage caused by climatic conditions the governorate witnessed only recently, in addition to visiting several projects in the governorate and the Kumzar scheme.
A specialised team from the Ministry conducted a field visit to the Governorate of South Al Batinah to study the sites affected by climatic conditions and also to listen to the people of the affected areas. To promote comprehensive digital transformation, develop services and exchange technical expertise with the private sector, the ministry signed a memorandum of understanding with the Omani Qatar Telecom Company.
As for initiatives related to urban strategy, the ministry participated in the discussion session (smart cities) to benefit from the experts and specialists to promote integration for future urban planning.
With regard to the real estate development sector, especially finding multiple alternatives for housing, the ministry is proceeding with the implementation of the Al-Naseem neighbourhood project, which has reached a completion rate of 60% of the first phase, which includes the construction of 220 housing units.
Regarding social housing projects, efforts during August focused on housing assistance to complete the procedures related to registered applications. The procedures for housing assistance applications were completed in the governorates of Muscat and South Al Sharqiyah.
As for workshops and programmes, the ministry organised last August a workshop - information security strategy - for various directorates of the ministry and a workshop - the reality of reconstruction in residential schemes.
