Muscat – The Ministry of Housing and Urban Planning (MHUP) is offering 15 investment sites under usufruct contracts in four governorates as part of its efforts to attract investors and stimulate the real estate sector.
According to a ministry official, MHUP will offer land measuring between 3,113sqm and 108,000sqm for usufruct contracts in an online auction via the Tatwir platform.
The initiative aims to achieve the objectives of economic growth, including commercial and industrial real estate units, while also aiming to enable the private sector to attract investments in various governorates to contribute to the development of integrated and sustainable urban communities.
The 15 sites include eight in Dakhliyah, three each in Dhofar and Musandam and one in Muscat.
To bid for sites, interested parties must be registered with the Real Estate Development Services Centre using their ID or commercial register number.
National Centre for Statistics and Information data indicates that the value of real estate transactions in the sultanate until the end of November 2022 was RO2.311bn, 2.6 per cent less compared to RO2.375bn recorded during the same period in 2021.