Oman real estate deals exceed 2.6 billion OMR by end of December 2023

The total value of real estate trading in Oman rose by 6% at the end of December 2023 to more than 2.6 billion Omani riyals (OMR). That compared with just under 2.5 billion OMR during the same period in 2022.

Figures issued by the National Centre for Statistics and Information show that fees collected for all legal transactions amounted to 64.9 million OMR, an increase of 4.2% from the end of 2022.

The number of traded sales contracts were down by 4.3% at 65,649 totalling 1,044 million OMR, a 7.7% decrease.

The statistics also showed a 18.3% increase in the traded value of lease contracts to 1.551 billion OMR  for 22,774 contracts. There were 1,394 exchange agreements worth 11.2 million OMR.

More than 235,000 ownership deeds were issued by the end of 2023, a rise of 0.9%.  More than 1,300 ownership deeds were issued to members of the Gulf Cooperation Council, an increase of 48.9%.