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: Over than OMR 173 Mln the Value of Real Estate Trading During Last March
: Over than OMR 173 Mln the Value of Real Estate Trading During Last March
Published Date : 14/04/2019 Visitors Count : 209

A report issued by the Ministry of Housing's real estate transactions in March of this year revealed that the governorate of North Al Batinah witnessed the highest in real estate transactions in sale, donation and inheritance, contracts at the Sultanate governorates' level, while Muscat was the highest in mortgage and mortgage redemption contracts, according to a statement by His Excellency Abdullah bin Salim Al Mukhaini, Secretary of the Real Estate Registry in the Ministry.

HE added that the value of contracts traded during the month of March amounted over than OMR 173,718,000 while the collected fees exceeded OMR 7,578,000 and the total number of trading activities 37,358 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 OMR 94,790,000 through 5,296 sale transactions in the Sultanate governorates, while the fees collected from sale amounted to more than OMR 4,398,000.

 

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 1205 sales, followed by South Al Batinah with 873 transactions, then Muscat governorate with 798 sale transactions, then 592 sales in Al Dakhiliyah, 525 in North Al Sharqiyah, 455 in South Al Sharqiyah, 297 sales in Dhofar, 288 in Al Dhahirah, 134 in Al Buraimi, 93 in Al Wusta, and finally 36 sale transactions in Musandam.

 

26,274 Title Deed Issued

HE Abdullah Al Mukhaini said that during last March  26,274 titles were issued, including those issued to GCC nationals including (5,962) in North Al Batinah governorate, (4,190) in Muscat governorate, (3,898) in South Al Batinah governorate, (3,757) in Al Dakhiliyah governorate, (2,306) in North Al Sharqiyah governorate, (1,791) in South Al Sharqiyah governorate, (1,547) in Al Dhairah governorate, (1,031) in Al Buraimi governorate, (987) in Dhofar governorate, (533) in Musandam governorate and (272) in Wusta governorate. The total number of new plots registered for the first time was (6,567) plots of land, including (5,739) residential land, (143) residential-commercial land, (56) commercial land, (35) industrial land, (590) agricultural land and (4) plots for government use.

 

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 966,000 and the fees collected were more than OMR 19,000 through the registration of 146 swap contracts, most of which were in North Al Sharqiyah with 34 contracts which is the highest percentage among other governorates. As for inheritance contracts, 712 contracts were made and the share of North Al Batinah was highest with 267 inheritance contracts.

 

Moreover, 1,604 was the number of donation contracts concluded, with the largest share being that of North Al Batinah with 342 contracts. A total of 698 mortgage redemption were concluded at the level of the governorates and the highest percentage was that of Muscat governorate with 241 contracts. In addition, 705 division contracts of at the level of the Sultanate's governorates were made. The highest percentage was in the South Al Batinah governorate with 260 contracts. As for deed stamping contracts, 180 transactions were made, most of which were in North Al Sharqiyah with 37 contracts while 357 utilization contracts were registered and South Al Batinah governorate scored the highest number by 95 contract.

 

Muscat The Highest in Mortgage Transactions

 

Al Mukhaini said that the total value of mortgage contracts amounted to more than OMR 77,961,000 through 1,386 mortgage transactions made at the level of the Sultanate, while the fees collected from mortgage amounted to more than OMR 455,000 and the highest number of mortgage transactions was registered in Muscat with 359 transactions.

HE the Secretary of Real Estate Registry pointed out that a total of 131 title deeds were issued to GCC citizens during the month of March in line with the controls of ownership of real estate in the Sultanate. The citizens of Kuwait came first with 64 ownerships, followed by State of Qatar with 43 ownerships, citizens of United Arab Emirates with 14 ownerships, citizens of Bahrain with 6 ownerships, and KSA with 4 ownerships.