This Country Is the Preferred Choice for GCC Citizens Property Investments, and Its Neither Dubai nor Lebanon

Published October 22nd, 2018 - 06:31 GMT
The statistics show that 1,038 properties were purchased by GCC nationals in August 2018. (Shutterstock)
The statistics show that 1,038 properties were purchased by GCC nationals in August 2018. (Shutterstock)

The number of GCC citizens buying properties in Oman has risen by 17.63 percent according to the country's National Center for Statistics and Information, local daily Times of Oman reported on Sunday.

The statistics show that 1,038 properties were purchased by GCC nationals in August 2018, compared to the 855 purchased last year.

“The increase in the number of GCC nationals’ ownership of plots in Oman is because they benefit from the returns on investment in the real estate sector and its value, compared to some other Gulf states. Some of them also buy plots because they have relatives in Oman and want to live near them. Some have inherited land plots because they are of Omani origin, in addition to the desire of many investors to own property in some provinces because of the weather and moderate climate,” an official from Oman’s housing ministry said.

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GCC nationals often buy properties in prominent tourist spots in Oman, according to Ahmed Al-Hooti, a member of the Oman Chamber of Commerce and Industry.

“Many nationals from Saudi, Qatar, UAE and Bahrain come here and buy properties in popular tourist spots such as Salalah, Masirah Island, and eastern beaches such as Ras Al Hadd for activities such as fishing,” Al-Hooti said.


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