Real estate contracts value hit RO 218m in February

MUSCAT: Abdullah bin Salim al Mukhaini, Secretary of the Real Estate Registry, at the Ministry of Housing said that the value of traded contracts during February 2017 stood at RO 218,430,701 while the collected fees amounted to RO 5,988,916.
He added that the real estate activity involved 29,827 transactions that included sale, grant, inheritance, exchange, mortgage and mortgage redemption, usufruct and division transactions.
Al Mukhaini further said that the total value of sale contracts stood at RO 87,055,000 through 5033 sale transactions at the level of the Sultanate’s governorates while the fees collected hit RO 3,454,827.
He pointed out that the Governorate of North Al Batinah recorded the highest number of sale contracts compared to other governorates during February 2017 to 1012 sale contracts, followed by the Governorate of Muscat with 882, South Al Batinah with 791, Al Dakhiliyah with 647, North Al Sharqiyah 422, Dhofar with 378 and South Al Sharqiyah with 349 sale contracts.
Al Mukhaini added that 19,145 title deeds were issued during February 2017 including those issued for the GCC citizens.
He further said that the total value of mortgage contracts stood at RO 129,654,462 through concluding 1650 contracts at the level of governorates in the Sultanate.
He pointed out that the fees collected from mortgage contracts hit RO 618,633.
The Secretary of the Real Estate Registry at the Ministry of Housing added that the total value of exchange contracts hit RO 720,463,000 while the fees collected from such contract transactions stood at RO 34,409 through 76 relevant contracts. — ONA