Real estate transactions reach RO256mn in Jan-May period

June 13, 2018

Dr Ali bin Azan al Hashami, deputy secretary of the real estate registry at the Ministry of Housing, said that the value of traded contracts in Oman’s real estate sector exceeded RO256mn by the end of May this year. The collected fees from real estate transactions stood at RO8.34mn during the first five months of 2018, he said.

Hashami pointed out that total number of real estate transactions amounted to 38,024 including sale, will, inheritance, exchange mortgage and release of mortgage transactions, besides visas. He added that the number of sale contracts during February exceeded 5,391 worth of RO89.09mn at the level of the sultanate’s governorates while the collected fees from such sale contracts during February reached RO3.75.

The Governorate of North Batinah recorded the highest rate of real estate sale contracts with 1,209 contracts followed by South Batinah with 994 contracts and 884 sale contracts in the Governorate of Muscat.