Expats can buy units in multi storey buildings – Oman

The expats of Oman are now allowed to buy units in Multi-storage buildings. The local media had reported that a new decision has been taken allowing Non-Omanis to buy units in multi-storage buildings. But the units sold to the migrants must not exceed 40%.

The percentage of units sold to the migrants should not exceed 40% of the residential real estate units in the multi-storey commercial residential buildings. It is mandatory to not exceed 20% of the allocated percentage to a single nationality.

The ministerial decision was issued by Dr. Khalfan al Shueili under 357/2020, for the controls on selling residential real estate under the usufruct system. This was implemented for the non-Omanis allocated in the multi-storey commercial and residential buildings, that was published by the Official Gazette.

This decision came as a part of the package for stimulating the investment in the real estate sector, to achieve specific growth rates for enhancing the performance of related activities and to achieve sustainable development.

The land allocated for the multi-story residential or commercial uses in some locations by the Governorate of Muscat in the wilayat of Bausher, Al Seeb and Al Amerat. In the region of wilayat at Bausher, the places allocated are Bausher (Area 1-3)- Al Khuwair (Area 2), Ghala Heights (1 and 2), Wattayah (1 and 2), and Misfah (Area 2). It is further allocated at the AL Amerat – Mahajj (Area 1), Hashiya (Area 1), Madinat al Nahdah (Area 2-5), Seeb (South Mawelah Area 5). Al Khoud (Area 2), Mabelah South (Area 7), and so forth.

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Originally posted 2021-09-29 11:08:39.