ORA calls for complete reassess of real estate fees

March 13th, 2018

The recently hiked government fees caused a “major drawback in the real estate trading” in Oman, Mohammed al-Busaidi, chairman of Oman Real Estate Association said today during Oman Real Estate Conference & Exhibition (Oman OREX)

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In his closing remarks of the Oman Real Estate Exhibition, al-Busaidi called for allocating labs (extensive 6-week workshop) for real estate sector in the Implementation Support and Follow-up Unit. And he called for establishing an independent real estate authority in the country.

Of the 15 recommendations and learnings, Al Busaidi encouraged higher education institutions to “add real estate related courses, as the sector can provide job opportunities for Omanis.”

Talking about the country’s legislations, al-Busaidi called for involve the private sector in drafting real estate laws and issuing or amending fees.

Moreover, he suggested granting custom exemptions for real estate companies that import sustainable technology, in addition to opening a real estate investment portal to allow government bodies like the Ministry of Tourism, Ministry of Housing, the Supreme Council for Planning and others “to transparently view investments’’ opportunities in Oman.

Reporting: Hassan Shaban

Editing: Fatma al-Arimi