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Housing plot allocation rises by a third in Oman

Number of housing plots allocated by Oman's Ministry of Housing rises to prop up property sector

Housing plot allocation is Muscat increased by more than 14%.
Housing plot allocation is Muscat increased by more than 14%.

The number of housing plots set aside by Oman's Ministry of Housing in the first five months of 2018 increased by nearly a third. 

A total of 17,447 housing plots were allotted by the government between this January and May, rising by 32% compared to the same period a year ago.

State-run Oman News Agency said the "phenomenal growth" in property plot allocation could help to "prop up" the country's housing market, which saw real estate transactions increase in Q1 2018.

READ: Oman reports 9% rise in GCC property owners in 2017

Housing plot allocation in Ad Dakhiliyah rose by 18% to 3,794, compared to the 3,213 plots assigned by the government at same stage a year earlier, data from the National Centre for Statistics and Information shows.

With 1,377 plots of land allocated for development, Muscat witnessed an increase of of 14.7%. In Dohar, 867 plots were allocated during the five-month period.

In South and North A'Sharqiyah, plot allotments increased by 150% and 103% to 1,400 and 2,781 plots, respectively.

Meanwhile, housing plot allocation in Al Wusta dropped by 48.3% to 424. Double-digit declines were also recorded in Al Buraimi, which witnessed a 78% decline, and Musandam, down 99%.

With more than 17,000 housing plots already allocated, Oman appears to be on track to at least match the 30,995 housing plots assigned by the Ministry of Housing during 2017.

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