Dubai: Majid Al Futtaim Properties said on Sunday said it will invest 180 million Omani riyals into Oman to build Mall of Oman, the country’s largest shopping and entertainment destination.

The Dubai-based developer, owner and operator of shopping malls, hotels and mixed-use communities in the Mena (Middle East and North Africa) region, said in a statement that the project is expected to begin next year, without specifying a time frame.

It added that the mall will be built on 157,000 sq uare metres of land and will offer a premium shopping experience, encompassing 350 stores in addition to a leisure component.

Anchor tenants at the Mall of Oman will include Carrefour, VOX Cinemas and Magic Planet, in addition to several other brands, set to make their first entry into Oman via the Mall of Oman, the company said.

“Mall of Oman further demonstrates our commitment to the Omani market and to our growth plan in the wider Mena region. 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,” George Kostas, chief executive of Majid Al Futtaim Properties, said in a statement.

Construction jobs

The company has been operating in Oman since 2001 with the opening of the first shopping mall in Muscat, Muscat City Centre. Since then it has invested more than 150 million riyals in the country, generating more than 7,000 jobs in construction and operation of its current assets, according to the company’s statement.

Besides, Majid Al Futtaim also owns and operates Qurum City Centre, which it opened in 2008, and is currently developing The Wave mixed-use project, a 50-50 joint venture with the Government of Oman.

As a part of its wider regional expansion, the company said last week it is also growing its business in Egypt with Mall of Egypt, which is currently under construction, and is expected to open in late 2015 or early 2016. In other major investments, Majid Al Futtaim plans to upgrade and expand its portfolio of hotels and shopping malls in Dubai, too, including an investment of over Dh900 million to expand its flagship Mall of the Emirates.

The company said that its shopping malls across markets continue to record a steady increase in footfall with more than 160 million visitors in 2012.