Real estate trading in Oman touched OMR600mn in 2022 first quarter

Real estate trading in Oman touched OMR600mn in 2022 first quarter

Wilayat Seeb that accounted for most real estate mortgages at OMR44. 4 million, while Wilayat Bousher led in terms of sales, at OMR75. 6 million. Muscat: Real estate worth nearly OMR600 million was traded in the first quarter of 2022, according to a report issued by the Ministry of Housing and Urban Planning (MOHUP). Furthermore, more than 60, 000 title deeds were also issued during this timeframe. Of the OMR587. 5 million worth of real estate traded, OMR284. 5 million were mortgages, OMR 99. 1 million accounted for sales contracts, and OMR3. 9 million worth of swap contracts were executed. The value of real estate traded decreased by 15 percent compared to the fourth quarter of 2021, when OMR691. 2 million worth of transactions were recorded. Much of the real estate activity was concentrated in Muscat, which accounted for 45 percent of the total trading volume, followed by South Batinah (15. 3 percent). The remaining trades were distributed among the rest of the governorates. At wilayat level, it was Wilayat Seeb that accounted for most real estate mortgages at OMR44. 4 million, while Wilayat Bousher led in terms of sales, at OMR75. 6 million. The real estate bulletin released by