Majid Al Futtaim will increase its investment in Oman by OMR 515 million by 2020, reaffirming its long-standing commitment to the sultanate.
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The company’s investment strategy includes Mall of Oman (estimated OMR 275 million), City Centre Sohar (estimated OMR 45 million), My City Centre Sur (estimated OMR 15 million), and additional investments from its retail, leisure and entertainment businesses (estimated OMR 180 million) including Magic Planet, Carrefour and VOX Cinemas.
Majid Al Futtaim’s investments are anticipated to create more than 42,000 direct and indirect job opportunities in the Sultanate in the next five years.
When it opens in 2020, Mall of Oman will be the largest integrated retail, leisure and entertainment destination in the Sultanate.
The super-regional mall will feature 350 outlets in a 137,000 sqm retail space. It will feature ‘firsts’ including Oman’s largest snow-park, with an 8,000 sqm play area, and a Little Explorers edu-tainment centre.
It will also include the Sultanate’s first Abercrombie & Fitch and largest VOX Cinemas and Magic Planet, the leading family entertainment centre in the region, as well as a 13,200 sqm Carrefour hypermarket and 292 room hotel, completing its integrated offer. It is estimated that Mall of Oman’s development will generate 29,000 direct and indirect job opportunities.
City Centre Sohar, set to open in 2018, will be the largest shopping and lifestyle destination in its Governorate.
The regional mall will be home to 100 new retail outlets across 40,000 sqm. These will include businesses owned and managed by Majid Al Futtaim, such as a 7,400 sqm Carrefour hypermarket, and entertainment options including VOX Cinemas and Magic Planet. The mall will create an estimated 8,000 employment opportunities in Oman.
My City Centre Sur, which will open in 2017, will be Majid Al Futtaim’s first community mall in Oman. The My City Centre retail concept, which was launched by Majid Al Futtaim two years ago, features a tailored mix of lifestyle-orientated retail and service outlets aimed at serving the everyday needs of local communities.
My City Centre Sur will include 16,500 sqm of retail space, comprising 50 outlets, a 6,850 sqm Carrefour hypermarket, Oman’s first City Centre Clinic and a Magic Planet. The project will create more than 3,500 direct and indirect job opportunities. ■