As per the ministry, certain measures have been taken to register buildings and properties below the program and views have been exchanged on the feasible outcomes that could be taken into consideration. The applications will be received from October 1. The program aims to create a complete database of real estate.
During the coming week, the ministry will invite about 190 managers of real estate associations who had been initially registered with the organisation and supervision division at the ministry’s Directorate General for Real Estate Development, as effectively as the new members.
Salim bin Hassan al Balushi, assistant director basic for Real Estate Development at the ministry, stated that the new program regulates the connection in between residents of the units situated below joint ownership, which is topic to the ministry’s supervision of the guidelines, regulations, handle mechanisms and systems of facilities management solutions and residential complexes in order to preserve the rights of all parties.
He added that the ministry is represented by the Directorate General for Real Estate Development, which seeks by means of this program to attain 3 targets, namely, urban, financial and social targets. In terms of architecture, it contributes to the organisation of housing by means of integrated housing complexes that attain sustainability and coexistence.
The financial objectives are to stimulate investment in real estate improvement and improve the contribution of the building and real estate improvement sector.
Balushi also stated that the program will attain its targets and regulate the connection in between the owners to attain public interest in light of the laws and regulations in force in this region, as complaints are becoming received by the ministry from some owners about the mechanism organising the connection.
Information Source: Muscat Daily