Muscat: A decision to allow foreigners, including expatriates in Oman, to own property in the Sultanate is awaiting approval from the cabinet.
The decision, when implemented, will let expatriates buy properties from a range of specified housing projects in the country.
Speaking to the Observer earlier, a senior official at the Ministry of Housing that the decision on the topic was delayed due to certain circumstances this year.
"The initiative was aimed at finding a way for foreign individuals to own/benefit from specific housing ranges, in order to keep capitals in the Sultanate and promote foreign investment," the annual of Implementation Support and Follow-up Unit (ISFU) said.
As per a ministerial decision of 2012, expatriates in Oman are allowed to buy properties only in Integrated Tourism Projects.
Any decision to allow ownership of properties for non-Omanis outside ITCs will have a major impact as expatriates officially constitute around 41 percent of the total population, with a sizeable number of potential buyers.
The report said that the draft resolution on the subject was approved by the Ministry of Legal Affairs.
“This step was accomplished and the committee formed to review the conditions and controls began its tasks to draft the decision and set the necessary conditions and controls. ISFU communicated with all stakeholders to set these conditions and controls and followed up the work of the committee," the report said.
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