Value of real estate transactions in Oman tops over $553mln in July

Value of real estate transactions in Oman tops over $553mln in July

Muscat - The value of real estate transactions in Oman reached OMR213.1 million in July, according to a report issued by the Ministry of Housing and Urban Planning on Monday.

The traded value of mortgage contracts in July reached OMR136 million while the traded value of sales collected touched OMR74 and OMR2.1 million was collected as swap contracts.

The total fees collected for legal transactions amounted to OMR4.2 million, of which OMR996,400 was collected for mortgages, OMR43,500 for swap contracts and OMR1.6 million for sale contracts.

The statement further indicated that the total legal transactions totalled 8,295, including 4,136 sales contracts, 82 swap contracts, 1,349 mortgage contracts, 1,155 grant contracts, 265 inheritance contracts, 615 mortgage release contracts and 693 dividing contracts.

The number of title deeds issued during July 2022 reached 15,087 titles in all governorates of the Sultanate of Oman distributed as 3,075 titles in Muscat, 944 in Dhofar, 129 in Musandam, 337 in Al Buraimi, 2,061 in Al Dakhiliyah, 2,720 in North Al Batinah, 2,399 in South Al Batinah, 899 in South Al Sharqiyah, 1,090 in North Al Sharqiyah, 1,297 in Al Dhahirah and 136 in Al Wusta.

As many as 39 titles were issued for citizens of GCC countries, of which the