Oman: Real estate deals worth over $498mln made in 2022

Oman: Real estate deals worth over $498mln made in 2022

Muscat: Real estate transactions worth over OMR192 million have been made in the Sultanate of Oman by the end of August 2022, and more than 22,000 title deeds have been issued during the same period.

According to a report issued by the Ministry of Housing and Urban Planning, the value of real estate transactions in the Sultanate till August this year has exceeded OMR192 million, including OMR107 million in mortgages, OMR82 million in sales contracts and OMR47 million in swap contracts. The fees collected from these legal transactions amounted to more than OMR5 million, of which OMR579,000 came from real estate mortgages, OMR47,000 from swap contracts and OMR2 million from sales contracts.

The report further said that the total legal transactions reached 12,830, of which 6,463 were sales contracts, 112 swap contracts, 2,056 mortgage contracts, 1,859 gift contracts, 537 inheritance contracts, 998 pledge contracts and 805 division contracts.

The report added that the number of title deeds executed during the period reached 22,775 across all governorates in the Sultanate, including 4,420 in the Muscat Governorate, 1,614 in Dhofar Governorate, 199 in Musandam Governorate, 601 in Buraimi Governorate, 2,738 in the Governorate of Al Dakhiliyah, 390 in North Al Batinah Governorate, 3,573 titles in