Error message

  • Warning: mysqli_connect(): php_network_getaddresses: getaddrinfo failed: Name or service not known in include() (line 276 of /var/www/www.monocodebase.com/htdocs/sites/default/settings/www.constructionweekonline.com.settings.php).
  • Warning: mysqli_connect(): (HY000/2002): php_network_getaddresses: getaddrinfo failed: Name or service not known in include() (line 276 of /var/www/www.monocodebase.com/htdocs/sites/default/settings/www.constructionweekonline.com.settings.php).
  • Warning: mysqli_close() expects parameter 1 to be mysqli, boolean given in include() (line 300 of /var/www/www.monocodebase.com/htdocs/sites/default/settings/www.constructionweekonline.com.settings.php).

Oman real estate trading drops 23% YoY to $3.11bn in July 2020

The number of properties issued in the sultanate decreased by 27.6% year-on-year to 92,929 properties in July 2020

Oman real estate trading drops 23% YoY to $3.11bn in July 2020
ONA
Oman real estate trading drops 23% YoY to $3.11bn in July 2020

The total value of traded real estate activity in the Sultanate of Oman dropped 23% year-on-year to $3.11bn (OMR1.211bn) in July 2020, compared to $3.875bn (OMR1.492bn) during the same period in 2019.

According to preliminary statistics issued by Oman’s National Centre for Statistics and Information, the fees collected for all legal actions fell 30.4% YoY to $92.7m (OMR35.7m) in July 2020, while the traded value of sales contracts decreased 21.5% YoY to $1.15bn (OMR442.9m) in July 2020 for 26,878 sales contracts.

The traded value of mortgage contracts decreased by 21.3% YoY to $1.87bn (OMR719.8m) in July 2020, compared to $2.37bn (OMR914.1m) in July 2019.

Meanwhile, the number of mortgage contracts reached 6,706 contracts by the end of July 2020, and the number of swap contracts reached 916 contracts, worth $126.7m (OMR48.8m).

The number of properties issued decreased 27.6% YoY to 92,929 properties in July 2020, compared to 128,336 properties issued in July 2019.

The number of properties issued to GCC nationals and citizens of the Arab States of the Gulf reached 220 properties, compared to 563 properties in July 2019, according to the state-run Oman News Agency.

Most popular

Awards

CW Oman Awards 2020: Meet the winners
A round of the thirteen winning names at the Construction Week Oman Awards 2020 that

Conferences

Leaders UAE 2020: Building a sustainable, 'resilient' infra
AESG’s Phillipa Grant, Burohappold’s Farah Naz, and Samana's Imran Farooq on a sustainable built environment
CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this

Latest Issue

Construction Week - Issue 767
Sep 01, 2020