95pc rise in real estate transactions

MUSCAT: The value of traded contracts in the real estate sector by the end of 2016 registered RO 8.855 billion, an increase of 95.3 per cent compared with the same period a year earlier, according to statistics released by the National Centre for Statistics and Information (NCSI). The real estate value in 2015 amounted to RO 4.140 billion, while the total amount of fee collected from real estate contracts last year was RO 65.5 million, a 27.2 per cent increase. The real estate authorities issued 230,403 property ownerships by the end of last year up 3.2 per cent on the previous year’s figure of 223,175.