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Over RO (191) Mln the Value of Real Estate Trading During Last April
Over RO (191) Mln the Value of Real Estate Trading During Last April
Published Date : 15/05/2019 Visitors Count : 65

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, inheritance and issued title deeds contracts at the Sultanate governorates' level, while Muscat was the highest in mortgage, mortgage redemption, utilization and deed stamping, according to a statement by Dr. Ali bin Azzan Al Hashami, Deputy Secretary of the Real Estate Registry at the Ministry of Housing.

Dr. Ali Al Hashami added that the value of contracts traded during the month of April amounted over than OMR 191,820,000 while the collected fees exceeded OMR 7,656,000 and the total number of trading activities 34,108 including sale, donation, inheritance, swap, mortgage, mortgage redemption, utilization, division, and deed stamping.

 

North Al Batinah the Highest in Sales

 

The Deputy Secretary of the Real Estate Registry added that the total value of sale contracts amounted OMR 78,428,000 through 5,072 sale transactions in the Sultanate governorates, while the fees collected from sale amounted to more than OMR 3,832,000.

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 1170 sales, followed by South Al Batinah with 890 transactions, then Muscat governorate with 780 sale transactions, then 592 sales in Al Dakhiliyah, 383 in South Al Sharqiyah, 382 in North Al Sharqiyah, 315 sales in Al Dhahirah, 266 in Dhofar, 174 in Al Buraimi, 97 in Al Wusta, and finally 23 sale transactions in Musandam.

 

23,462 Title Deed Issued

Dr. Ali Al Hashami said that during last April 23,462 titles were issued, including those issued to GCC nationals including (5,026) in North Al Batinah governorate, (4,080) in Muscat governorate, (3,251) in South Al Batinah governorate, (2,888) in Al Dakhiliyah governorate, (2,158) in North Al Sharqiyah governorate, (1,799) in Al Dhairah governorate, (1,595) in South Al Sharqiyah governorate, (896) in Dhofar governorate, (824) in Al Buraimi governorate, (711) in Musandam governorate and (234) in Wusta governorate. The total number of new plots registered for the first time was (5,488) land plots, including (4,690) residential land, (107) residential-commercial land, (73) commercial land, (99) industrial land, (509) agricultural land and (10) plots for government use.

 

The Deputy Secretary of real estate registry, highlighted that the value of swap contracts was more than OMR 2,000,000 and the fees collected were more than OMR 40,000 through the registration of 130 swap contracts, most of which were in North Al Sharqiyah with 30 contracts which is the highest percentage among other governorates. As for inheritance contracts, 703 contracts were made and the share of North Al Batinah was highest with 312 inheritance contracts. Moreover, 1,543 was the number of donation contracts concluded, with the largest share being that of North Al Batinah with 303 contracts. A total of 668 mortgage redemption were concluded at the level of the governorates and the highest percentage was that of Muscat governorate with 241 contracts. In addition, 509 division contracts of at the level of the Sultanate's governorates were made. The highest percentage was in the South Al Batinah governorate with 129 contracts. As for deed stamping contracts, 207 transactions were made, most of which were in Muscat governorate with 42 contracts and 377 utilization contracts were registered and Muscat governorate scored the highest number by 105 contract.

 

 

Muscat The Highest in Mortgage Transactions

 

Al Hashami said that the total value of mortgage contracts amounted to more than OMR 111,388,000 through 1,437 mortgage transactions made at the level of the Sultanate, while the fees collected from mortgage amounted to more than OMR 1,052,000 and the highest number of mortgage transactions was registered in Muscat with 378 transactions.

 

Dr. Ali bin Azzan Al Hashami, Deputy Secretary of the Real Estate Registry, concluded his statement saying that a total of 85 title deeds were issued to GCC citizens during the month of April in line with the controls of ownership of real estate in the Sultanate. The citizens of Kuwait came first with 37 ownerships, followed by citizens of United Arab Emirates with 20 ownerships, citizens of Bahrain with 14 ownerships, State of Qatar citizens with 9 ownerships, and KSA with 5 ownerships.