real estate

Ministerial decision issued to revise real estate licence fees in Oman

October 18, 2022

Muscat: His Excellency Dr. Khalfan bin Saeed Al Shuaili, Minister of Housing and Urban Planning has issued a Ministerial Resolution amending the licence to practice the real estate brokerage profession fees at the Ministry of Housing and Urban Planning.

The decision includes reducing fees for (6) services related to the real estate brokerage profession by (50%), which is represented in the issuance of certificates of issuance of a registration card for practicing the real estate brokerage profession in Muscat Governorate for one time, which was reduced from (500) OMR to (200) OMR, and in the rest of the governorates from (300) OMR to (150) OMR, and a certificate of renewal of the registration card for practicing the profession of real estate brokerage, which was reduced from (200) OMR to (100) OMR, and in the rest of the governorates from (100) OMR to (50) OMR, and a replacement certificate for lost for the real estate brokerage card, which has been reduced from (100) OMR to (50) OMR, and in the rest of the governorates from (50) OMR to (25) OMR.

As for the certificate of issuing the real estate broker card for one time, it was reduced in the Governorate of Muscat from (50) OMR to (25) OMR, and in the rest of the governorates from (25) OMR to (15) OMR, and the renewal of the real estate broker card was reduced annually in the Governorate of Muscat from (25) OMR to (15) OMR, and in the rest of the governorates from (15) OMR to (10) OMR, as well as the issuance of a replacement certificate for a lost real estate broker card in the Governorate of Muscat from (25) OMR to (10) OMR, and in the rest of the governorates from (15) OMR to (10) OMR.

The real estate brokerage system in the Sultanate of Oman aims at creating an integrated database for the number of real estate brokerage companies, verifying the performance of companies and the privileges of their services provided, knowing the percentages of commissions collected, transparency in transactions, monitoring the performance of real estate brokerage companies and their services, the volume of investments, and addressing the phenomenon of random and part-time brokers by registering them under the umbrella of this companies.

The system also aims to classify real estate brokerage companies according to a professional work, creating an encouraging environment for real estate development and access to real prices for the value of real estate for various uses.

The Ministry is working on studying licencing fees by reducing them to a proportional extent with all companies, limiting unlicensed real estate companies in the real estate sector, organizing the real estate sector from slums in all governorates, finding statistics for real estate brokers in all governorates, in addition to transferring real estate disposal services to licensed companies.

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