Construction of the mall, which will house 350 stores including Carrefour, starts next year and will cost Dh1.71bn.
Majid Al Futtaim to build Oman’s biggest mall
Majid Al Futtaim Properties is to invest 180 million Omani rials (Dh1.71 billion) to build the country’s biggest mall in Muscat as part of its ambitious plans to expand in the region.
“Mall of Oman further demonstrates our commitment to the Omani market and to our growth plans in the wider Mena region,” George Kostas, the chief executive of Majid Al Futtaim Properties, said.
“Oman’s new shopping and entertainment destination is expected to generate 1,500 jobs for its construction and a further 3,500 jobs once opened and will enhance the sultanate’s retail and entertainment offering for both residents and tourists.”
Construction of the mall, which will house 350 stores, starts next year and will be built on 157,000 square metres of land.
Tenants of the mall will include the supermarket Carrefour, Vox Cinemas and the children’s amusement park Magic Planet. The mall is expected to be completed in the fourth quarter of 2017.
Majid Al Futtaim has had business in Oman since 2001 and built the first mall in the capital, the Muscat City Centre. The company also owns and operates Qurum City Centre and is developing a mixed-use project called the Wave with the government of Oman.
Muscat City and Qurum City centres are being redeveloped and expanded at a cost of 30 million rials. The work on both is expected to be completed next year.
Majid Al Futtaim has invested more than 150m rials in Oman, generating more than 7,000 jobs.
This year, the company started to build its flagship Mall of Egypt project in Cairo, and opened Beirut City Center mall in Lebanon.
Majid Al Futtaim also announced that it was spending Dh900m to expand the Mall of the Emirates in Dubai.