Real estate contracts hit RO 175m in Dec

MUSCAT: Abdullah bin Salim al Mukhaini, Secretary of the Real Estate Registry, at the Ministry of Housing said that the value of traded contracts during December 2016 stood at 175,754,317 while the collected fees amounted to RO 5,099,515. He added that the real estate activity involved 25,935 transactions that included sale, grant, inheritance, exchange, mortgage and mortgage redemption, usufruct and division transactions. Al Mukhaini further said that the total value of sale contracts stood at RO 74,731,299 through 3,774 sale transactions at the level of the Sultanate’s governorates while the fees collected hit RO 2,841,965.

He pointed out that the Governorate of Muscat recorded the highest number of sale contracts compared to other governorates during December 2016 to 773 sale contracts, followed by North Al Batinah with 868, South Al Batinah with 661 and Al Dakhiliyah with 370. Al Mukhaini added that 17,462 title deeds were issued during December 2016 including those issued for the GCC citizens. He further said that the total value of mortgage contracts stood at RO 99,896,649 through concluding 1,374 contracts at the level of governorates in the Sultanate. He pointed out that the fees collected from mortgage contracts hit RO 489,749. The Secretary of the Real Estate Registry at the Ministry of Housing added that the total value of exchange contracts hit RO 126,369,000 while the fees collected from such contract transactions stood at RO 22,527 through 85 relevant contracts. — ONA