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Ministry of Housing: Over than OMR 226 Mln the Value of Real Estate Trading During Last February
Ministry of Housing: Over than OMR 226 Mln the Value of Real Estate Trading During Last February
Published Date : 12/03/2019 Visitors Count : 201

His Excellency Abdullah bin Salim Al Mukhaini, Secretary of the Real Estate Registry in the Ministry stated that the value of contracts traded during the month of February amounted over than OMR 266,491,000 while the collected fees exceeded OMR 7,303,000 and the total number of trading activities 33,648 including sale, donation, inheritance, swap, mortgage, mortgage redemption, utilization, division, and deed stamping.

North Al Batinah the Highest in Sales

Al-Mukhaini added that the total value of sale contracts amounted more than OMR 81,109,000 through 4,897 sale transactions in the Sultanate governorates, while the fees collected from sale amounted to more than OMR 3,87,000.

He pointed out that the sales transactions in North Al Batinah governorate recorded the highest percentage compared to the rest of the Sultanate governorates last month, with a total of 1,012 sales, followed by South Al Batinah with 857 transactions, then Muscat governorate with 800 sale transactions, then 561 sales in Al Dakhiliyah, 425 in North Al Sharqiyah, 369 in South Al Sharqiyah, 301 sales in Al Dhahirah, 281 in Dhofar, 139 in Al Buraimi, 127 in Al Wusta, and finally 25 sale transactions in Musandam.

 

Muscat The Highest in Mortgage Transactions

Al Mukhaini said that the total value of mortgage contracts amounted to more than OMR 184,274,000 through 1,309 mortgage transactions made at the level of the Sultanate, while the fees collected from mortgage amounted to more than OMR 1,289,948 and the highest number of mortgage transactions was registered in Muscat with 449 transactions followed by South Al Batinah governorate with 218 transactions, then North Al Batinah governorate with 182 transactions, then Al Dakhiliyah governorate with 182 transaction, then Al Dahirah governorate with 76 transactions, followed by the North Al Sharqiyah with 77 transactions, Dhofar governorate with 58 transactions, then South Al Sharqiyah with 57 transactions, Al Buraimi governorate with 20 transactions and then Musandam governorate with 11 transactions and fainly Al Wusta governorate with 3 transactions.

 

Swap, Donation, Inheritance, Mortgage Redemption, Division, Utilization and Deed Stamping Transactions

His Excellency Abdullah bin Salim Al-Mukhaini, Secretary of the Real Estate Registry in the Ministry of Housing highlighted that the value of swap contracts was more than OMR 1,107,000 and the fees collected were more than OMR 22,148 through the registration of 164 swap contracts, most of which were in North Al Sharqiyah with 40 contracts which is the highest percentage among other governorates. As for inheritance contracts, 704 contracts were made and the share of North Batinah was highest with 282 inheritance contracts.

A total of 656 mortgage redemption were concluded at the level of the governorates and the highest percentage was that of Muscat governorate with 225 contracts. In addition, 623 division contracts of at the level of the Sultanate's 6governorates were made. The highest percentage was in the North Al Batinah governorate with 249 contracts while 256 utilization contracts were registered and Al Dakhiliyah governorate scored the highest number by 54 contract.

As for deed stamping contracts, 197 transactions were made, most of which were in North Al Batinah with 38 contracts

23,257 Title Deed Issued

HE Abdullah Al Mukhaini said that during last February  23,257 titles were issued, including those issued to GCC nationals including 4,376 in Muscat Governorate, 845 in Dhofar Governorate, 3,178 in South Al Batinah Governorate, 4,490 in North Al Batinah Governorate, 1,832 in North Al Sharqiyah Governorate, 1,580 in South Al Sharqiyah Governorate , 3,413 in Al Dakhiliyah Governorate, 1,657 in Al Dhairah Governorate, 1,145 in Al Buraimi Governorate, 400 in Musandam Governorate and 341 in Wusta Governorate and. The total number of new plots registered for the first time was 5,200 plots of land, including 4,413 residential land, 132 residential-commercial land, 71 commercial land, 39 industrial land, 533 agricultural land and 12 plots for government use.

96 GCC Title Deed

HE the Secretary of Real Estate Registry pointed out that a total of 96 title deeds were issued to GCC citizens during the month of February in line with the controls of ownership of real estate in the Sultanate. The citizens of Kuwait came first with 38 ownerships, followed by citizens of United Arab Emirates with 31 ownerships, citizens of Qatar with 20 ownerships, KSA of with 4 ownerships, and Bahrain with3 ownerships.