Real estate activity in four Oman governorates rises to $642m in Feb

The governorates collected $6m (OMR2.3m) in fees from sales, inheritance, mortgage, foreclosure, and other contracts

Real estate activity in four Oman governorates rises to $642m in Feb. [representational image]
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Real estate activity in four Oman governorates rises to $642m in Feb. [representational image]

Oman’s Ministry of Housing has revealed that the value of real estate activity in the governorates of Northern Al Batinah, Musandam, Al Buraimi, and Dhofar rose to more than $642m (OMR274m) in February 2020, while the fees collected during the period amounted to more than $6m (OMR2.3m), according to the state-run Oman News Agency.

The director general of Housing in the Al Buraimi governorate, Khamis bin Saif Al Abdul Salam, announced that the total value of real estate activity recorded during the month of February in the governorate amounted to more than $16.36m (OMR6.3m).

The governorate collected $352,391 (OMR135,634) in fees through sales, gifts, inheritance, mortgage, foreclosure, usufruct, and apportionment real estate procedures, among others.

The Al Buraimi governorate also recorded 175 sales contracts, 30 mortgage contracts, 51 donation contracts in donations, 19 inheritance contracts, 14 mortgage cancellation contracts, and 30 division contracts, in addition to 16 registration contracts.

Meanwhile, the director general of housing in the Dhofar governorate, Eng Mohammed bin Mubarak Al Jabri, affirmed that the total value of real estate activity recorded during February in the governorate amounted to more than $20.7m (OMR8m), while the fees collected during the same period amounted to $1.18m (OMR456,443).

The governorate recorded 262 sales contracts, 58 mortgage contracts, 66 donation contracts, 31 inheritance contracts, 38 foreclosure contracts, 26 division contracts, and 10 usufruct contracts, among others.

In the Al-Batinah North governorate, the director general of the directorate of housing, Eng Hassan bin Sulaiman Al-Salmi, revealed that the total value of real estate activity recorded during February amounted to approximately $675m (OMR260m), while the fees collected during the same period amounted to more than $4.3m (OMR1.66m).

The governorate recorded 1,184 sales contracts, 230 mortgage contracts, 403 donation contracts, 314 inheritance contracts, 77 foreclosure contracts, 124 division contracts, 35 contracts in use, and 18 contracts in exchange.

As for Musandam governorate, the director general of the directorate of housing, Eng Haider bin Abdul Hadi Al Lawati, said that the total value of real estate activity recorded during February in the province amounted to more than $1m (OMR411,000), while the fees collected during the same period amounted to more than $166,000 (OMR64,000).

The governorate recorded 27 sales contracts, 5 foreclosure contracts, 26 donation contracts, 13 inheritance contracts, and 39 division contracts.

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