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Over than RO 200 Mln the Value of Real Estate Trading During Last May
Over than RO 200 Mln the Value of Real Estate Trading During Last May
Published Date : 16/06/2019 Visitors Count : 235

A report issued by the Ministry of Housing's real estate transactions in May 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 May amounted over than OMR 218,97,000 while the collected fees exceeded OMR 7,184,000 and the total number of trading activities 32,116 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 76,948,000 through 4,454 sale transactions in the Sultanate governorates, while the fees collected from sale amounted to more than OMR 3,347,000.

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 944 sales, followed by South Al Batinah with 843 transactions, then Muscat governorate with 717 sale transactions, then 571 sales in Al Dakhiliyah, 358 in North Al Sharqiyah, 358 sales in Al Dhahirah, 272 in South Al Sharqiyah, 234 in Dhofar, 118 in Al Buraimi, 80 in Al Wusta, and finally 37 sale transactions in Musandam.


22,156 Title Deed Issued

Dr. Ali Al Hashami said that during last May 22,156 titles were issued, including those issued to GCC nationals including (4,220) in North Al Batinah governorate, (3,973) in Muscat governorate, (3,801) in South Al Batinah governorate, (3,628) in Al Dakhiliyah governorate, (1,907) in North Al Sharqiyah governorate, (1,389) in Al Dhairah governorate, (1,239) in South Al Sharqiyah governorate, (802) in Dhofar governorate, (645) in Al Buraimi governorate, (349) in Musandam governorate and (203) in Wusta governorate. The total number of new plots registered for the first time was (4,939) land plots, including (4,061) residential land, (185) residential-commercial land, (39) commercial land, (44) industrial land, (599) agricultural land and (11) plots for government use.

The Deputy Secretary of real estate registry, highlighted that the value of swap contracts reached approximately OMR 2 Mln and the fees collected were more than OMR 39,000 through the registration of 138 swap contracts, most of which were in North Al Sharqiyah with 36 contracts which is the highest percentage among other governorates. As for inheritance contracts, 577 contracts were made and the share of North Al Batinah was highest with 231 inheritance contracts. Moreover, 1,272 was the number of donation contracts concluded, with the largest share being that of North Al Batinah with 235 contracts. A total of 730 mortgage redemption were concluded at the level of the governorates and the highest percentage was that of Muscat governorate with 270 contracts. In addition, 608 division contracts of at the level of the Sultanate's governorates were made. The highest percentage was in the South Al Batinah governorate with 192 contracts. As for deed stamping contracts, 294 transactions were made, most of which were in Muscat governorate with 54 contracts and 341 utilization contracts were registered and Muscat governorate scored the highest number by 103 contract.


Muscat The Highest in Mortgage Transactions

Al Hashami said that the total value of mortgage contracts amounted to more than OMR 139,156,000 through 1,546 mortgage transactions made at the level of the Sultanate, while the fees collected from mortgage amounted to more than OMR 1 Mln and the highest number of mortgage transactions was registered in Muscat with 392 transactions.

Dr. Ali bin Azzan Al Hashami, Deputy Secretary of the Real Estate Registry, concluded his statement saying that a total of 53 title deeds were issued to GCC citizens during the month of May in line with the controls of ownership of real estate in the Sultanate. The citizens of United Arab Emirates came first with 27 ownerships, followed by citizens of Bahrain with 12 ownerships, citizens of Kuwait with 9 ownerships, State of Qatar citizens with 4 ownerships, and KSA with 1 ownership.