Sunday, July 03, 2022 | Dhu al-hijjah 3, 1443 H
overcast clouds
weather
OMAN
31°C / 31°C
EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

New decision on ownership in Musandam ITCs

No Image

Muscat: The Minister of Housing and Urban Development has issued a decision 109/2022, amending some provisions of the executive regulations


on owning real estate in integrated tourist complexes.


The amendment allows Omanis to build units or plots of land intended for construction in integrated tourist complexes for the purpose of housing or investment.


Non-Omanis can buy units in the integrated tourist complexes in the Governorate of Musandam under the usufruct system, and for a period not exceeding 99 years.


The decision is based on the Royal decree 12/2006 on owning real estate in integrated tourist complexes, royal decree 29/2018 prohibiting non-Omanis from owning land and real estate in some places, ministerial decisions 191/2007, 292/2020, and the ministerial decision 357/2020 that allowed the sale of real estate units in multi-story commercial and residential buildings.


SHARE ARTICLE
arrow up
home icon