Oman Real Estate Sector Sees Value of Deals Reach $3.2 Billion by End of May
The Oman real estate sector saw the value of deals reach OR1.22bn ($3.2bn) by the end of May, according to the latest data issued by the National Centre for Statistics and Information (NCSI).
It represents a significant increase on the OR885.6m ($2.3bn) during the same period in 2022
The figures revealed that the total fees collected for all transactions amounted to OR28.9m($75m), comprising an increase of 17.5 per cent compared to the same period in 2022.
The traded value of sales contracts increased by 6.4 per cent, to stand at OR468m ($1.2bn). The number of sales contracts declined by 4.1 per cent. The statistics indicated a rise in the traded value of mortgage contracts by 70.3 per cent, to reach OR748.4m ($1.94bn) (10,110 contracts).
Meanwhile, the number of swap contracts reached 620 at value of OR4.2m ($11m). The number of title deeds issued by the end of May 2023 stood at 99,893, comprising a rise of 7.6 per cent. The number of issued title deeds for GCC citizens surged by 68.1 per cent to reach 516.
