Wednesday 18 / June / 2025
Muscat: Oman will reduce fees on real estate transactions to 3 per cent and allow the adding of upper floors in buildings as part of Oman’s mid-term fiscal plan 2020-2024.
The Ministry of Finance said on the initiatives to stimulate the real estate market: "The Ministry of Housing and Urban Planning adopts a package of measures that work to revive the real estate market in the Sultanate, the most important of which are:
-Reducing fees on real estate transactions from 5 per cent to 3 per cent.
- Licensing of leasing operations leading to ownership or sale in installments.
- Permission to add upper floors in buildings in exchange for a fee.
- Opening the way for non-Omanis to own residential real estate units in multi-storey commercial residential buildings in specific areas.
