The number of land titles executed in the era reached 22,775 in all governorates
Muscat: Real estate transactions worth more than OMR 192 million were completed in the Sultanate of Oman at the end of August 2022, and more than 22,000 property titles were issued in the same period.
According to a report published through the Ministry of Housing and Urban Development, real estate transactions in the Sultanate up to August this year exceeded OMR 192 million, of which OMR 107 million in mortgages, OMR 82 million in sales contracts and OMR 47 million. in exchange contracts. The fees collected in those legal transactions amounted to more than OMR five million, of which OMR five 79,000 came from real estate mortgages, OMR 47,000 from exchange and OMR 2 million from sales contracts.
The report indicates that the total number of legal transactions reached 12,830, of which 6,463 were purchase and sale contracts, 112 swaps, 2,056 loans, 1,859 donation contracts, 537 inheritance contracts, 998 pledge contracts and 805 department contracts.
The report adds that the number of property titles executed in the era reached 22,775 in all governorates of the Sultanate, adding 4,420 in Muscat governorate, 1,614 in Dhofar governorate, 199 in Musandam governorate, 601 in Buraimi governorate, 2,738 in Al Dakhiliyah governorate, 390 in northern Al Batinah governorate. 3573 titles in Al Batinah South Governorate, 1913 in South Sharqiyah Governorate, 1942 in Al Sharqiyah Northern Governorate, 1612 in Al Dhahirah Governorate and 259 in Al Wusta Governorate, in addition to the 110 permits issued to citizens of Gulf Cooperation Council (GCC) countries, with the highest concentration in Muscat governorate, followed by North Al Batinah and South Al Batinah governorates. The total number of plots registered for the first time reached 4,857 plots.
With respect to asset registration programs, the number of programs from the same era was 1,163, of which 626 were owned and 794 programs were audited.
The ministry also witnessed many projects in the period, adding the provision of 22 industrial, residential and advertising masses for electronic auctions and progression under the usufruct formula in 6 other states, and 7 masses for fuel station tenders under the same initiative. The Ministry also won requests for ministerial decisions to standardize fees for recording and documenting actions, and requests for evidence of ownership for Sorouh projects, while the Ministry continued to grant residential land to rights holders through the “Choose Your Land” service.
In the area of communication and participation, Dr. Mohammed bin Ali Al-Mutawa, Undersecretary of the Ministry of Urban Development, visited Musandam governorate to assess the damage caused by climatic situations that the governorate has recently witnessed, in addition to visiting several projects in the governorate and the Kumzar project.
A specialized team from the Ministry made a stopover in the South Al Batinah Governorate to examine the sites affected by the climatic situations and also to pay attention to the populations of the affected areas. To promote global virtual transformation, expand and exchange technical expertise with the personal sector, the ministry signed a memorandum of understanding with Omani Qatar Telecom Company.
With regard to projects similar to the urban strategy, the ministry participated in the discussion consultation (smart cities) to gain advantages from experts and specialists to foster integration for long-term urban planning.
With regard to the real estate development sector, especially the search for housing opportunities, the Ministry is moving forward with the implementation of the Al-Naseem community project, which has reached a completion rate of 60 per cent of the first phase, which includes the structure of 220 homes.
With regard to social housing projects, efforts in August on housing assistance completed procedures similar to the registered files. Procedures for applying for housing assistance have been finalized in Muscat and South Al Sharqiyah governorates.
In terms of workshops and programs, the Ministry organized last August a workshop – data security strategy – for other units of the Ministry and a workshop – the truth of reconstruction in residential complexes.
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