Your guide to reselling property in ITC projects

The property owner in Integrated Tourism Complex (ITC) projects in the Sultanate of Oman has the full right to sell their property at any time after construction is completed and the title deed is received, without any additional time restrictions imposed by the government. A property transfer fee of 3% of the financial value stated in the sales contract applies. This right is fundamentally different from other ownership systems in the Sultanate, such as the usufruct system, which imposes a legal waiting period before allowing the property to be disposed of. This guide explains how the property sale process actually works within ITC projects in two cases: after receiving the unit, and during the construction phase before delivery.

Legal Basis for Free Sale in ITC Projects

The legal classification of ITC projects, as part of the full freehold areas, grants the property owner a permanent title deed for both the unit and the land, with no time limit or usage restriction that would limit the right of disposal. This means that the Omani government does not impose a mandatory waiting period after receiving the property before allowing it to be sold, unlike other ownership systems that link the right to sell to a specific period after contracting. The only actual condition for starting official sale procedures is that the property is registered in the seller’s name at the Land Registry and is free from any mortgage or ongoing legal dispute.

Procedures for Selling Property After Construction Completion and Receiving the Title Deed

Once the project construction is completed and the owner receives the official title deed, the sale process proceeds through specific steps at the official authorities:

1. Preparation of the sales contract: Signing an official sales contract between the seller and the buyer specifying the financial value of the deal and unit details. It is preferable to prepare it with the help of a specialized lawyer or a licensed real estate brokerage office to ensure compliance with applicable regulations.
2. Verification that the property is free of mortgages: Documentation must be obtained proving that the property is free from any existing mortgage in favor of a financing entity or any pending legal dispute before completing the transfer procedures.
3. Submitting the application to the Land Registry: Submitting the original signed sales contract by both parties, with a copy kept in the Land Registry archive.
4. Payment of transfer fees: The property transfer fee is 3% of the sale value stated in the contract submitted among the documents and is paid before completing the transfer procedures.
5. Issuance of a new title deed in the buyer’s name: After completing all steps and paying the fees, a new title deed is issued confirming the official transfer of ownership to the new owner.

These steps generally apply to real estate transfer procedures in the Sultanate of Oman after construction is completed, including ITC properties owned as freehold.

Read also: Properties for Sale in Yiti Freehold for Foreigners

What is Different During the Construction Phase?

The situation is fundamentally different when the owner wants to sell their property before construction is completed, i.e., selling “contractual rights” in a unit still under construction instead of selling a unit officially registered in their name. In this case, there is no general legal provision that sets a mandatory payment percentage to allow this type of sale in all ITC projects. Instead, the conditions vary from project to project according to the specific terms of the contract signed between the original buyer and the developer.

An illustrative example is Trump International Oman Project, which explicitly allows its unit owners to resell their contractual rights after paying 40% of the property value, without the need to wait for construction completion or final delivery. This condition is stipulated in the project contract specifically and is not a general rule automatically applicable to all other ITC projects. Therefore, the most practical step for any owner considering selling their unit before delivery is to review the “assignment” or “resale” clause in the original purchase contract signed with the developer, as this clause alone determines the actual conditions applicable to their specific unit.

Does Selling the Property Before Delivery Require Developer Approval?

In many off-plan sales projects in the Sultanate of Oman, the original sales contract requires the owner to obtain the developer’s approval before assigning their contractual rights to a new buyer. This is to ensure that the new buyer continues to comply with the remaining payment schedule until delivery. This condition is not an obstacle as much as it is an organizational procedure that protects both parties: the developer from payment interruption and the new owner from entering into a contractual obligation not officially documented with the developer. Verifying this condition, and whether it requires prior written approval or only notification, is an essential part of reviewing the contract before making a sale decision.

Read also: Buying Property in Oman for Foreigners: A Comprehensive Guide

Factors Affecting the Speed of Property Sale in ITC Projects

Apart from official procedures, the actual speed of completing the sale process is affected by several practical factors:

• Project phase at the time of sale: Units close to delivery or already delivered are usually easier to market than units in early construction stages, since the new buyer can see the actual unit or a near delivery date instead of relying only on plans.
• Clarity of the remaining payment schedule: The more the remaining financial commitment on the unit is clear and documented, the easier it is for the new buyer to evaluate the deal quickly.
• Asking price compared to similar newly launched units: Pricing the unit in line with current prices in the project or neighboring projects speeds up the sale process, while overpricing prolongs the search for a buyer.

Selling a property in ITC projects in the Sultanate of Oman is a relatively straightforward process after construction is completed, governed by clear procedures and a fixed transfer fee of 3%. However, it becomes more complex and requires careful review of the original purchase contract if the owner wishes to sell before delivery. Understanding this difference in advance before signing the initial purchase contract saves the investor from later surprises if they need to dispose of their property earlier than originally planned.

At Imtilak Global, we review with every investor the assignment and resale clause in any project contract before signing it, and we later follow up with them on the actual sale procedures if they decide to dispose of their property at any stage, whether before or after delivery. Anyone planning to buy property in ITC projects and whose investment outlook includes the possibility of early sale can Book a Free Consultation with our team to specifically review this clause before making a decision.

Frequently Asked Questions

Can a unit still under construction be sold in ITC projects?
This depends on the specific terms of the original purchase contract signed with the developer, as the conditions (required payment percentage, need for developer approval) vary from project to project, as explained in the example of Trump International Oman Project, which allows this after paying 40% of the value.

Who bears the transfer fee upon sale, the seller or the buyer?
This is usually determined by agreement between the parties within the sales contract itself. It is advisable to clarify this clause explicitly in the contract to avoid any dispute when completing the transfer procedures at the Land Registry.