Tenancy agreement fee hiked in Oman governorates

(Getty Images)

The municipal fee for all the tenancy agreements has been increased from 3% to 5% in Dhofar and the rest of Oman, after implementing it in Muscat.

In a ministerial decision, the Governor of Dhofar has asked the landlords to pay 5% of the lease value as fee.

Ahmed bin Abdullah Al Shuhi, Minister of regional municipalities and water resources, also issued a ministerial decision for the landlords of residential, commercial and industrial properties stating that the fee for rent contracts has been raised to 5%.

The decision also mentioned that either the landlord or tenant can pay the fee.

The move was expected as the Muscat Municipality had already announced a hike as a part of measures taken by the Ministry of Finance in the 2016 State Budget to shore up non-oil revenues.

Real estate agents, however, welcomed the decision to collect 5% of the land value as fee on specified registrations in Dhofar and other areas of Oman, reported the local daily Times of Oman.

Most Popular Articles
Advertising | بالعربية