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Oman reports 9% rise in GCC property owners in 2017

The number of GCC nationals who own real estate in Oman increased by 9% in 2017, going up to 1,210 from 1,107 in 2016, according to a Ministry of Housing report

The number of GCC nationals who own real estate in Oman increased by 9% in 2017 [image: ONA].
The number of GCC nationals who own real estate in Oman increased by 9% in 2017 [image: ONA].

The number of GCC nationals who own real estate in Oman increased by 9% in 2017, going up to 1,210 from 1,107 in 2016, according to a Ministry of Housing report.

The ministry revealed that of the reported number, 80% was in residential lands, with Kuwaitis making up the bulk of the GCC property owners at 526, or 43%.

UAE nationals followed at 434, or 36% of the GCC nationals with real estate in the sultanate.

READ: Top six locations for real estate contract wins in Oman

Location-wise, the Governorate of North Al Batinah proved popular among Gulf nationals, with 370 buying real estate, spanning a total 700,000m2, in the area.

The Governorate of Dhofar came in second, with 308 GCC nationals owning more than 100,000m2, while 196 own more than 50,000m2 in the Governorate of Muscat.

 The ministry further noted that GCC nationals can own residential, commercial, and industrial real estate but not agricultural lands, Oman News Agency (ONA) reported.

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Construction Week - Issue 746
Jul 20, 2019