Dubai’s large real estate developer Majid Al Futtaim has announced yesterday investing 515 million Omani riyals, which is equivalent to 1.3 billion dollars, in Oman during the coming five years.
The company will invest 275 million riyals in Mall of Oman, 45 million riyals in City Center Sohar, 15 million riyals in My City Center Sur, and the remaining will be spent on developing a number of existing retail, leisure, and entertainment venues.
It’s worth mentioning that the company spent 190 million riyals on these projects since 2001.
Mall of Oman is the Sultanate’s largest shopping center. It will include 350 outlets, a snow park, Carrefour hypermarket, and 292-room hotel. The mall stands on a total area of 137,000 square meters and it will open in 2020.
City Center Sohar will include 100 outlets and will open in 2018, while City Center Sur will open in 2017.