Real estate deals in Oman exceed OMR2.6bn

Muscat: The total value of real estate transactions in the Sultanate of Oman by the end of December 2023 increased by 6 per cent to reach OMR2,607.1 million compared to the same period of 2022 when it stood at OMR2,459.3 million, according to the latest data issued by the National Centre for Statistics and Information (NCSI).

The total collected real estate transaction fees reached OMR64.9 million, constituting a rise of 4.2 per cent compared to the end of 2022. The value of sale contracts stood at OMR1,044.5 million (65,649 contracts), comprising a drop in value and the number of contracts by 7.7 per cent and 4.3 per cent, respectively.

Statistics indicate a rise in the value of lease contracts by 18.3 per cent to stand at OMR1,551.5 million (22,774 contracts). Meanwhile, exchange agreements stood at 1,394 (worth OMR11.2 million).

The number of ownership deeds by the end of 2023 stood at 235,390, comprising a rise of 0.9 per cent. Meanwhile, the number of ownership deeds issued to GCC citizens reached 1,316, up by 48.9 per cent.