Dubai: Dubai-based conglomerate Majid Al Futtaim said on Monday that it will boost investments in Oman by 515 million Omani riyals to 705 million by 2020.
The investments will include Mall of Oman, estimated at 275 million Omani riyals, City Centre Sohar, My City Centre Sur, and additional investments from its retail, leisure and entertainment businesses including Magic Planet, Carrefour and VOX Cinemas.
The company said the investments are expected to create more than 42,000 direct and indirect job opportunities in Oman in the next five years.
Mall of Oman, which is scheduled to open in 2020, will feature 350 outlets, a snow park said to be Oman’s largest with an 8,000 square metre play area, and a Little Explorers entertainment centre. It will also include the country’s first Abercrombie & Fitch, the largest VOX Cinemas and Magic Planet, as well as a 13,200 sqm Carrefour hypermarket and a 292-room hotel.
Opening in 2017, My City Centre Sur will be Majid Al Futtaim’s first community mall in Oman. It 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 following year, City Centre Sohar will open, featuring 100 new retail outlets across 40,000 sqm. These will include a 7,400 sqm Carrefour hypermarket and entertainment centres including VOX Cinemas and Magic Planet.
The company is also expanding its existing City Centre Qurum shopping mall in Muscat, which will include a Centrepoint and additional car parking spaces.
Majid Al Futtaim has invested over 190 million Omani riyals in the country since 2001.
