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FINANCIAL NEWS
Oman’s real estate activity hits USD5.95b in 9M
30 Dec 2014
(MENAFN) According to a report issued by Oman’s National Centre for Statistics and Information (NCSI), the sultanate’s real estate activity surged by 55.7 per cent during the January-September period of this year, with the total value of traded property reaching USD5.95 billion compared with USD3.88 billion in the same period of 2013, Muscat Daily reported.
During the first nine months of 2014, the amount of fees collected on all property transactions reached USD82.05 million compared with USD50.73 million in the same period of 2013, representing an increase of 61.7 percent.
The NCSI statistics revealed that the total value of real estate sales contracts the country stood at USD2.42 billion by the end of September 2014 as compared with USD1.32 billion recorded during the same period in 2013, which is a growth of 82.6 percent.
Meanwhile, the traded value of mortgage contracts registered an increase of 41.3 percent, hitting USD3.36 billion during the first nine month of 2014 compared with USD2.42 billion recorded in the correspondent period of 2013.
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