Oman’s Ministry of Housing has launched a one-stop facility for the processing of all permits and applications submitted by real estate investors linked to the property developments in the Sultanate.
The Centre for Real Estate Development Services, set up in the Ministry, is officially operational with effect from today, according to Siham al Harthy, Director General of Real Estate Development at the Ministry of Housing.
She made the announcement at the opening of the Oman Real Estate Expo which got underway at the Oman Convention and Exhibition Centre yesterday. Shaikh Saif bin Mohammed al Shabibi, Minister of Housing, was the Chief Guest at the inaugural session.
The three-day event, which has been clubbed with The BIG Show Oman (Builders International Gathering), is billed as the largest building, construction and interior design platform. It has been organised by Oman Expo in collaboration with Oman Real Estate Association (ORA).
The Centre for Real Estate Development Services, Siham said, links all of the government ministries and stakeholder agencies whose clearances are mandatory before construction work on any real estate development can begin in earnest.
The required permits will be issued within a maximum of 27 days from the date of submission of completed applications, with the requisite supporting documentations, she stated.
The new initiative meets a long-standing appeal by Omani property developers, represented by Oman Real Estate Association), calling for a single window system that connects the multiplicity of government departments required by law to give their consent for any real estate
project.
Speaking at the event, Siham said the new One-Stop-Shop will not only speed up the approvals process, but crucially, it will also make the increasingly important property sector more transparent, and therefore, more attractive to local and international investment.
Furthermore, the new centre will enable interested investors and developers access market data that will be imperative to their decision-making processes, while providing them with assurance and comfort that their investment decisions are sound and evidence-based. The potential for the incorporation of emerging and new technologies, notably Blockchain, in supporting the development of the sector will be keenly explored as well, she noted.
The official also affirmed the need for real estate brokers to obtain a permit from the Ministry of Housing to practice their trade – a move designed to enhance professionalism in the industry, as well as curb speculation. Earlier, in opening remarks, Hassan bin Mohammed al Lawati, Chairman of Oman Real Estate Association (ORA), said deliberations during the two-day forum will focus on, among other themes: The Future of Real Estate in Oman; Building the Future (Happy Cities); Urban Future Planning and Development Strategies; Real Estate Investment, Opportunities and Financial Incentives; Growth and Opportunities in the Hospitality Sector in the Sultanate; and the Impact of VAT on Real Estate.(Pictures by Khalfan al Toobi)
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