Majlis Ash’Shura Office discusses contract fees

Muscat: The office of Majlis Ash’shura discussed a proposal presented by the Oman Real Estate Association (OREA) to reduce the fees for contracts of sale at the ministry of housing to 3 per cent from 5 per cent particularly for residential properties.

The office hosted Engineer Mohammed bin Salim al Busaidy, Chairman of OREA along with other officials at its 24th regular meeting which was held on Tuesday under the chairmanship of Shaikh Khalid bin Hilal al Maawali, Chairman.

The meeting also reviewed replies of a number of ministers including from the minister of housing regarding compensations for the citizens whose properties were affected by the Al Batinah Coastal Road construction. The minister affirmed that the compensations amounts are evaluated in accordance with the prices listed in the decision of the chairman of the Supreme Committee for Town Planning. The office decided to enlist the topic in the agenda of the next meeting of the Majlis Ash’shura.

Meanwhile, the Economic and Financial Committee of Majlis Ash’shura discussed the prices of vehicles in the Sultanate in comparison with those in the other GCC states. The committee hosted Engineer Ahmed bin Hasan al Dhib, Under-Secretary of the Ministry of Commerce and Industry beside the deputy chairman of the Public Authority for Consumer Protection (PACP), and representatives of the Directorate-General of Customs, the Oman Chamber of Commerce and Industry (OCCI) and car dealerships.

The Chairman of the Economic and Financial Committee underscored the importance of the meeting as it brings together the stakeholders involved with the automotive sector. The meeting focused on the causes of higher prices of cars in Oman compared with the neighbouring countries and the effect this might have on the performance of the Omani economy as the consumers purchase cheaper cars from the other GCC countries.

Representatives of car dealerships pointed out to a number of factors that determine the prices of cars such as the strong demand for cars in the local market, the purchasing power and the high cost of shipment.