GCC. (Gulf Cooperation Council states)

Pursuant to the Law Regulating the Ownership of Real Estate, the right to own land or developed property in Oman, has been extended to GCC nationals.

This law entitles GCC nationals and wholly GCC-owned companies to own land or constructed property for both residential and investment purposes.

A GCC national is allowed to engage in buying and selling constructed properties unrestrictedly.

However, a GCC national purchasing a vacant plot of land is legally obliged to develop it within four years from the date of purchase. If the land is not developed within the stipulated time, the government is empowered to dispose of the land, after compensating the owner. Wholly GCC-owned companies are given the right to own real estate for investment.