MUSCAT: An introductory real estate workshop was held on Monday at the Oman Chamber of Commerce and Industry (OCCI) branch in Dhofar Governorate.
The workshop touched upon the concepts and procedures for real estate development in the Sultanate of Oman. The workshop was organised by the Chamber in cooperation with the Ministry of Housing and Urban Planning.
The workshop targeted real estate owners, real estate brokerage and valuation offices, as well as owners’ association managers. It also aimed to raise awareness of the concepts of professions and activities licensed by the Ministry of Housing and Urban Planning in the Sultanate of Oman.
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Also, the procedures for obtaining licenses to engage in activities, and introducing the National Initiative for Integrated Residential Neighbourhoods (Sorouh) and real estate brokerage systems were discussed in the seminar.
The seminar also included several axes, including the terms of reference and objectives of the General Directorate of Real Estate Development, the sector stimulus plan, the “development” platform, the escrow account for real estate development projects, owners’ associations, combating money laundering and terrorist financing and its impact on the real estate sector, and the mechanism of work in the regulation of control over companies and offices.
