Oman makes key amendment in real estate fees
MUSCAT, May 18, 2020
Oman has made key amendments in some provisions of the values, prices and fees collected by the Ministry of Housing and also the fees for services provided through the real estate development electronic system, said a report.
As per the ministerial decisions made by Shaikh Saif bin Mohammed al Shabibi, Minister of Housing, the fee for obtaining a three-year valid licence required for practicing real estate development activity has been set at RO750 ($1,950) while the fee for initiating a real estate development project will be 0.1 per cent of the total project’s value, reported Oman Observer.
Investors seeking to display properties for a period of three months inside the sultanate will be required to pay RO500 in fees. These include kiosks, exhibitions, conferences, brokerage offices, marketing companies, it stated.
The fees for the promotion of international properties will cost RO10,000 while advertising and promotion of local properties require payment of RO200, it added.
