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Oman’s real estate market records $2bn worth of deals in Q1 2018

The first quarter of 2018 saw the value of Oman’s real estate deals reaching $ 2.02bn, reflecting a 6.5% increase from the $1.89bn recorded during the same period of last year

The value of Oman's real estate deals grew by 6.5% in Q1 2018 [image: ONA].
The value of Oman's real estate deals grew by 6.5% in Q1 2018 [image: ONA].

The first quarter of 2018 saw the value of Oman’s real estate deals reaching $2.02bn (OMR776.3m), reflecting a 6.5% increase from the $1.89bn (OMR726.8m) recorded during the same period of last year.

Around 16,045 sales contracts, valued at $668.8m (OMR257.5m), were implemented in the first three months of the year.

Meanwhile, mortgage deals stood at $1.34bn (OMR514.1m), with the number of transactions dropping by 26.8% to 4,025, from 5,500 in Q1 2017, Oman News Agency reported, citing statistics from the National Centre for Statistics and Information (NCSI).

READ: Oman records real estate deals worth $1.5bn in 2M 2018

The report further revealed that 62,127 plots were allocated in Q1 2018, 1.8% less than the 63,255 plots allotted during the same period last year.

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