MUSCAT: The total value of real estate trading in Oman during 2024 stood at OMR 3.38 billion, according to the annual statistical report by the National Centre for Statistics and Information (NCSI). Muscat Governorate topped the list with a trading value of approximately OMR 1.25 billion, followed by North Al Batinah Governorate with OMR 877.80 million, Al Dakhiliyah Governorate at OMR 380.70 million, and South Al Batinah Governorate with OMR 359.40 million. Dhofar Governorate contributed OMR 216.70 million, while the remaining governorates recorded smaller shares, with Musandam and Al Wusta recording the lowest values at OMR 12.10 million and OMR 15.70 million respectively.
The data also highlighted significant trends in building permits across the Sultanate. A total of 36,517 building permits were issued in 2024, marking a decline of 16.4 percent compared to 2023 when 43,701 permits were recorded. North Al Batinah Governorate issued the highest number of permits with 6,664, followed by South Al Batinah with 6,478 and Muscat with 6,236 permits. Other governorates such as Al Dakhiliyah, North Al Sharqiyah, and Dhofar also contributed substantial numbers, while Musandam and Al Wusta recorded the lowest figures at 558 and 331 permits respectively.
In contrast to the decline in permits, the number of building completion certificates witnessed a significant increase of 41 percent, reaching 23,743 certificates in 2024 compared to 16,834 in the previous year. North Al Batinah led this category with 5,458 completion certificates, followed by South Al Batinah with 4,289 and Muscat Governorate with 3,548. Other regions, including Al Dakhiliyah, North and South Al Sharqiyah, and Dhofar, also recorded considerable numbers, while Al Wusta and Musandam had fewer completions at 148 and 279 respectively.
When classified by type of use, residential building permits dominated with 28,789 permits, making up the majority of issued licenses. Agricultural permits followed with 2,361, while residential-commercial projects accounted for 1,903 permits. Governmental projects were granted 1,636 permits, whereas industrial and commercial projects accounted for 971 and 474 permits respectively. Other uses included tourism with 87 permits, places of worship with 56, and educational projects with only 16 permits, reflecting the varying nature of development priorities across the Sultanate.
