GCC citizens eye properties in Oman as number of buyers rises

DUBAI: 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.

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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