Muscat: The Ministry of Housing and Urban Planning has announced amendments to certain real estate service fees, aiming to bring added value for beneficiaries, enhance the investment environment in the real estate sector, and improve the efficiency of services.
According to Oman News Agency, the amendments encompass 85 government services, featuring the streamlining and merging of fees for 47 services, the cancellation of fees for 11 services, reducing the fees of 8 services, and the introduction of 14 new services. These changes are part of the ministry’s initiative to consolidate transparency in service pricing and application.
One of the significant amendments includes a reduction in registration fees for sales contracts from 2% to 1% for Omani individuals and companies, effectively cutting real estate ownership costs by 50%. Additionally, the fees for selling real estate through Islamic banks have been reduced to 0.5%, aiming to enhance real estate financing in alignment with market needs. Mortgage registration fees have also been reduced to a maximum of 0.5%, providing more flexible financing opportunities for the sector.
The decision represents a strategic effort to bolster investments and support the business environment. It includes provisions for recovering sums paid for changes in business activity types, considering the circumstances of current investors, and boosting their confidence in Oman’s investment environment.
In related measures, the decision has altered the price of the land use permit and exempted agricultural lands from fees when their use is shifted to non-investment purposes, provided these lands are located in detailed government plans. Furthermore, it has revised the fees for using agricultural lands previously collected by the Ministry of Agriculture, Fisheries, and Water Resources, aligning them with the prevailing determinants at payment time.
Efforts to enhance service quality have led to the cancellation of fees for some e-government services, aiding the digital transition and reducing financial burdens on citizens. Notably, agricultural land registration fees have been cancelled to support the agricultural sector and optimize land utilization. The decision also abolishes land allocation fees via electronic auctions, offering more opportunities to investors and real estate developers.
Moreover, the decision exempts certain segments from real estate ownership fees, including individuals with limited income not exceeding RO 300, persons with disabilities, beneficiaries of the Family Income Scheme and the housing assistance program, and retirees with a monthly income not exceeding RO 300.
The amendments also set fees for registering and documenting real estate transactions, transfer fees, and ownership verification requests. They also regulate registration fees for those licensed in real estate brokerage, development services fees, real estate pricing, and services provided to real estate owners’ associations. Additionally, they establish prices for contract forms, application forms, and maps issued by the Ministry.
Overall, these amendments aim to enhance beneficiary satisfaction to 90%, improve clarity in the fee structure, and streamline procedural ease for users.