Thursday 21 March 2019

Oman's real estate deals hit $3.8bn in H1

MUSCAT, August 7, 2018

Oman's real estate sector witnessed solid growth in the first half, netting RO1.5 billion ($3.88 billion) from a total of 208,966 transactions during the six-month period, said a report.

Interestingly, out of this figure, a record RO79 million ($205 million) worth of deals were made in just five days - from July 15 to 19, reported Times of Oman, citing data from Oman’s Ministry of Housing.

The highest number of sales transactions took place in capital Muscat, followed by the governorate of North Al Batinah, it stated.

At the governorate level, a total of 208,966 real estate transactions were recorded in the first half, of which, 39,687 transactions were registered in capital Muscat followed by 11,169 in Dhofar, a top ministry official was quoted as saying in the report.

A total of 31,459 deals were made in South Al Batinah; 43,619 in North Al Batinah; 13,090 in South Al Sharqiyah; 16,110 in North Al Sharqiyah; 27,932 in Al Dakhiliyah; 17,003 in Al Dhahira; 4,389 in Al Buraimi; 1,658 in Musandam and 2,850 in Al Wusta, revealed Abdullah bin Salim Al Mukhaini, the secretary of the Real Estate Registry at the ministry.

The number of title deeds issued across the sultanate rose by 25 per cent to 144,677 during the first half, compared to 115,910 title deeds issued last year, he added.

Tags: transactions |

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