Oman Sultani Decree No. 30/2018 Promulgating the Regulation Concerning the Calculation of Guarantee for Real Estate Development Projects
We Qaboos bin Said Sultan of Oman,
Pursuant to the perusal of the Basic Statute of the State promulgated by Oman Sultani Decree No. 101/1996;
Land Law promulgated by Oman Sultani Decree No. 5/1980;
Oman Sultani Decree No. 48/1989 promulgating the regulation for vesting title of ownership of flats and storeys;
Cadastre System issued by Oman Sultani Decree No. 2/1998;
Banking Law promulgated by Oman Sultani Decree No. 114/2000;
Regulation concerning ownership of real estate properties in integrated tourism complexes issued by Oman Sultani Decree No. 12/2006; and
Based on the public interest requirements,
Have issued the following Decree:
Article 1
The provisions of the attached Regulation concerning the calculation of guarantee for real estate development projects shall apply.
Article 2
The Minister of Housing shall issue the regulations and decisions required for the implementation of the provisions of the present Regulation, after coordinating with each of the Ministry of Tourism and the Central Bank.