Salalah top favourite for GCC investors

MUSCAT, April 15 – Salalah continues to be the favourite among GCC nationals for buying property in the Sultanate.
According to the Ministry of Housing, the real estate ownership by investors from GCC countries was highest in the Wilayat of Salalah followed by Buraimi and Suhar.
“UAE nationals have been the biggest beneficiaries of property deeds handed out by the ministry in March this year with 62 ownerships forming 48 per cent,” said a statement by Abdullah bin Salim al Mukhaini, Secretary of the Real Estate Registry in the ministry.
Kuwaitis were in the second position with 41 ownerships, followed by Qatar (14), Bahrain (8) and Saudi Arabia (5). Al Mukhaini said a total of 27,681 titles were issued in March, including those to the GCC nationals.
A total of 6,302 new plots were registered for the first time in different governorates.
Of these, 5,280 were for residential use, 180 residential-commercial, 88 commercial, 172 industrial, In addition, 552 division contracts at the level of Sultanate’s governorates were made.
A total of 794 mortgage redemptions were concluded at the level of governorates and the highest percentage was of Muscat Governorate with 259 contracts.
The total number of donation contracts concluded was 1,702, of which North Al Batinah had the maximum share: 321.
As for the inheritance contracts, 704 contracts were made and the share of North Al Batinah was the highest with 388 inheritance contracts.
North Al Sharqiyah, with 36 contracts, saw the highest percentage among other governorates.
According to the Real Estate Registry, the value of swap contracts was more than RO 1,082,000 and fees collected more than RO 21,000 through registration of 146 swap contracts.
Muscat registered 445 mortgage transactions, the highest.
The total value of mortgage contracts amounted to more than RO 131,820,000 through 1,483 mortgage transactions, while the fees collected from mortgage amounted to more than RO 1,073,000.579 agricultural and three for government use.