Oman must have regulations to allow expats own houses outside Integrated Tourism Complexes (ITCs), deputy chairman of Majlis al-Shura said at the Oman Real Estate Conference.

"We must open expatriates in Oman to own property outside the ITC under certain conditions" Al Ghassani, deputy chairman of Majlis al-Shura. 

"Expats living in Oman for a long time must specially be allowed to own their own homes. This will open our markets and our economy will benefit from this. It will play a great role for our real estate sector."

He added that regulations must be in place for regulating supply and demand in real estate sector so prices don't drop.

"When there are less tenants, why are we building more houses. We must regulate this," he stated

Source: Timesofoman