RO2.3bn worth of real estate traded in Oman in 2023 till Q3 end

RO2.3bn worth of real estate traded in Oman in 2023 till Q3 end

Real estate worth RO2.3bn was traded this year till the end of the third quarter - an increase of 11.4% compared to the same period in 2022.Muscat – Real estate worth RO2.3bn was traded this year till the end of the third quarter – an increase of 11.4% compared to the same period in 2022 – according to a report issued by the Ministry of Housing and Urban Planning (MHUP) on Wednesday.

Of the RO2.3bn worth of real estate traded, mortgages accounted for RO1.4bn, sales contracts RO898mn and swap contracts RO10mn. The number of title deeds issued in the first three quarters of the year was 44,869 in all governorates, including 37,601 in Muscat.

The report added that the number of title deeds issued to citizens of GCC countries was 1,116.

The ministry offered 300 plots of land for investments in this period – 62 in North Batinah, 51 each in Muscat and South Sharqiyah, 39 in Dhofar, 38 in Dakhliyah, 30 in Buraimi, 14 in Musandam, nine in Dhahirah, three in South Batinah, two in North Sharqiyah and one in Al Wusta.

The plots have been offered with the aim of supporting growth of GDP, boosting economic output through manufacturing, commercial and other