Growing interest in Oman real estate sector by GCC nationals
The number of real estate properties owned by GCC citizens in Oman rose to 107 during last June and is expected to increase during the current month, reported the Kuwiait newspaper Al-Watan on July 27, 2005. The number of Gulf investors in the real estate sector in Oman is growing every day as a result of the laws allowing the purchase of real estate properties by GCC citizens all over the Sultanate, and by foreigners in tourist areas.
According to an Omani real estate agent, Gulf nationals are interested in purchase of land plots mainly in al-Sawadi region, where it is planned to establish the "Blue City", which will become the house of 200,000 people, and also in Salalah, which is known for its good weather conditions.
The real estate sector in Oman showed significant activity during last June, as 3,792 land plots for housing were registered, 136 land plots for commercial and housing purposes, 103 land plots for commercial purposes, 74 land plots for industrial purposes, 81 governmental land plots, 7 land plots for mosques and 177 agricultural land plots. The Omani Ministry of Housing, Electricity and Water issued during June 2005 some 8408 ownership bills, 107 of them for GCC citizens.