New regulations for Real Estate owners in Jabel Sifah resort

Salim bin Mohammed bin Said al Mahrouqi, Minister of Heritage and Tourism, issued a ministerial decree establishing the regulations for real estate in Jabal Sifah Resort.

This decree is based on Royal Decree 12/2006 concerning the system of real estate ownership in integrated tourism complexes, and Ministerial Decree 191/2007 issuing the implementing regulations for that system.

The new regulations consist of three main chapters -  General Provisions and Definitions, Developer Obligations, and Buyer/Owner Obligations,  to ensure clarity in the relationship between all parties and to regulate the management and operation of the project in accordance with best practices in the sector.

The regulations require the developer to submit and obtain approval for the project's master plan and site plan from the relevant authorities, and to refrain from selling any property unit until obtaining approval from the Ministry of Housing, Urban Planning, and the Ministry of Heritage and Tourism.

The regulations also stipulate that the developer must complete all procedures necessary to enable non-Omani nationals to own property, in accordance with applicable laws.

The developer's obligations include preparing local bylaws governing the relationship between the developer and the property owners, with owners having the right to receive a copy.

 The developer must also ensure that the units are constructed according to the specifications in the sales contract and provide buyers with a copy of the architectural drawings.

Furthermore, the regulations require the developer to open a dedicated escrow account for the project to hold payments, appoint an independent auditing firm to review the accounts and annual service fees, and obtain insurance for all units against various risks, for the benefit of the owners.

Conversely, the regulations obligate the buyer or owner to pay all due installments on the agreed-upon dates, to refrain from transferring ownership of the property before it is registered in the land registry, and to respect the laws, public order, and customs and traditions of the Sultanate of Oman.

They are also required to use the property in a manner that does not infringe upon the rights of others or detract from the overall appearance of the project, and to obtain the developer's approval before making any external modifications.

The regulations also emphasize the owners' obligation to pay the annual service fee, as determined by the developer in accordance with the bylaws, to maintain the green spaces within the property, and to notify the developer upon selling the property.

The Ministry of Heritage and Tourism affirmed that these regulations are part of its efforts to regulate and develop integrated tourism complexes, ensuring the sustainability of real estate and tourism projects, enhancing investor confidence, and improving the quality of services provided to residents and visitors.