Latest news with #legaltransactions
Times of Oman
a day ago
- Business
- Times of Oman
Real estate sale contracts in Oman rise by 12.4% to OMR613mn
Muscat: The value of real estate sales contracts in the Sultanate of Oman increased by 12.4% to reach OMR613 million by the end of June 2025, up from OMR545.6 million during the same period in 2024. Data from the National Centre for Statistics and Information (NCSI) shows that the total value of traded real estate in Oman was approximately OMR1.36 million by the end of June 2025, marking a 3.5% decrease compared to OMR1.41 million in the corresponding period of 2024. The data also revealed a 25.5% increase in fees collected from all legal transactions, reaching OMR40.5 million, compared to OMR32.3 million in the same period last year. In contrast, the number of sales contracts declined by 2.3% to 31,831, down from 32,596 contracts during the same period last year. Furthermore, the value of mortgage contracts decreased by 13.4% to approximately OMR742.2 million, covering 10,647 contracts. This is a drop from OMR856.7 million for 10,028 contracts recorded by the end of June 2024. Exchange contracts also saw a decline, with 596 contracts traded for a value of OMR4.8 million by the end of June 2025, compared to 671 contracts worth OMR7.3 million during the same period in 2024. The number of issued real estate title deeds saw a slight increase of 0.8%, reaching 110,551 by the end of June 2025, up from 109,666 titles in the same period of 2024. Additionally, the number of titles issued to GCC citizens increased by 4.7% to 697, compared to 666 by the end of June 2024.
Times of Oman
11-05-2025
- Business
- Times of Oman
Real estate transactions in Oman exceed OMR572 million at end of March 2025
Muscat: The traded value of real estate transactions in the Sultanate of Oman fell by 2.5% to OMR572.7 million till the end of March 2025, compared to OMR587.5 million in the same period of 2024, according to the latest data released by the National Centre for Statistics and Information (NCSI). According to preliminary statistics issued by the NCSI, fees collected of all legal action's transactions amounted to OMR18.3 million till the end of March 2025, constituting an increase of 10.6% compared to OMR16.5 million by the end of March 2024. The traded value of sale contracts reached OMR252.4 million till the end of March 2025, and the number of sale contracts fell by 6.3% to 15,815, compared to 16,877 in the same period of 2024. The value of mortgage contracts rose by 5.8% till the end of March 2025 to OMR317.1 million compared to OMR299.8 million during the same period of 2024. Meanwhile, the number of mortgage contracts rose by 10% to 5,344 contracts from 4,858 contracts in the same period of 2024. The value of traded barter contracts rose by 12.2% to OMR3.2 million till the end of March 2025 compared to OMR2.8 million in the same period of 2024. The number of barter contracts fell by 7.6% to reach 354 contracts till the end of March 2025 compared to 383 contracts in March 2024. The number of properties issued by the end of March 2025 fell by 3.1% to 55,378 by the end of March 2025, compared to 57,167 properties during the same period in 2024, and the number of properties issued to citizens of GCC countries also decreased by 13.3% reaching 280 compared to 323 till the end of March 2024.
Times of Oman
11-05-2025
- Business
- Times of Oman
Real estate transaction in Oman exceed OMR572 million at end of March 2025
Muscat: The traded value of real estate transactions in the Sultanate of Oman fell by 2.5% to OMR572.7 million till the end of March 2025, compared to OMR587.5 million in the same period of 2024, according to the latest data released by the National Centre for Statistics and Information (NCSI). According to preliminary statistics issued by the NCSI, fees collected of all legal action's transactions amounted to OMR18.3 million till the end of March 2025, constituting an increase of 10.6% compared to OMR16.5 million by the end of March 2024. The traded value of sale contracts reached OMR252.4 million till the end of March 2025, and the number of sale contracts fell by 6.3% to 15,815, compared to 16,877 in the same period of 2024. The value of mortgage contracts rose by 5.8% till the end of March 2025 to OMR317.1 million compared to OMR299.8 million during the same period of 2024. Meanwhile, the number of mortgage contracts rose by 10% to 5,344 contracts from 4,858 contracts in the same period of 2024. The value of traded barter contracts rose by 12.2% to OMR3.2 million till the end of March 2025 compared to OMR2.8 million in the same period of 2024. The number of barter contracts fell by 7.6% to reach 354 contracts till the end of March 2025 compared to 383 contracts in March 2024. The number of properties issued by the end of March 2025 fell by 3.1% to 55,378 by the end of March 2025, compared to 57,167 properties during the same period in 2024, and the number of properties issued to citizens of GCC countries also decreased by 13.3% reaching 280 compared to 323 till the end of March 2024.
