A gulf country has announced an important decision. Oman has announced the new decision. Oman has allowed non-Omanis to buy units in multi-storey buildings.
Dr. Khalfan al Shueili, Minister of Housing and Urban Planning has issued the new government decision. The ministerial decision 357/2020 regarding the controls of selling residential real estate units under the usufruct system to non-Omanis in multi-storey commercial and residential buildings was published in the Official Gazette.
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As per the decision, the percentage of purchase of units sold to expatriates should not exceed 40 per cent of the number of residential real estate units in the multi-story commercial residential buildings, and it should not exceed 20 per cent for a single nationality of the allocated percentage.
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