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Housing plot allocation up 30% in Oman

The amount of land granted for residential buildings in Oman during the seven months of 2018 has increased

More residential land plots have been awarded in Oman this year.
More residential land plots have been awarded in Oman this year.

The number of housing plots allocated in Oman this year has continued to increase, rising by nearly 30% year-on-year.

A total of 22,128 residential plots were issued in the Sultanate during January and July 2018 – a 29% rise on the 17,125 building plots granted by the government during the same period a year earlier. 

It keeps the number of plots issued across the four governorates in the oil-rich Gulf country in the ascendancy, as Oman's Ministry of Housing set aside 17,447 in the first five months of 2018 – an increase of nearly a third. 

READ: Oman's real estate deals decline to $4bn

Oman's National Centre for Statistics and Information, a government statistical agency, said the governorate of A-Dakhiliyah had the most land plots granted. A total of 4,740 where awarded, compared to the 3,940 plots allotted during 2017.  

With 4,528 plots for residential buildings issued, A'Dhahirah recorded a huge increase in plots after registering just 491 during the first eight months in 2017.

While the number of residential plots allotted by the government has continued to increase, the value of property deals in the Sultanate has declined this year.

Despite a rise in stamp duty collection fees, cash generated by real estate transactions in Oman dropped 0.4% between the first six months of this year compared with the same period in 2017.

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Construction Week - Issue 745
Jun 30, 2019