Monday, February 13, 2017

Majid Al Futtaim to build new community mall in Oman

Majid Al Futtaim, a leading shopping mall, retail and leisure pioneer across the Middle East, Africa and Asia region, said its property arm has broken ground on a new community mall: My City Centre Sur in Oman.

Located in one of Oman’s growing coastal cities in the eastern province, the RO15.2 million ($39 million) My City Centre Sur is set to become a key destination for both residents and the increasing number of tourists visiting nearby attractions, said a statement from the company.

Majid Al Futtaim Properties has appointed a joint venture of Oman Shapoorji Company (Osco) & Shapoorji Pallonji Mideast (SPML) as the project's main contractor.

The community mall, which is likely to be completed by next year, will offer 16,500 sq m of gross leasable area with a tailored mix of practical and lifestyle-oriented stores and services, making it an ideal location for the community to shop, and socialise.

It will boast a 6800-sq-m Carrefour Hypermarket as well as 50 select stores including food and beverage outlets.

Ghaith Shocair, the chief executive officer for shopping malls at Majid Al Futtaim Properties, said: "The appointment of the contractor and groundbreaking of My City Centre Sur means that we are several key steps closer to creating great moments for everyone, everyday, in that community."

“We have been serving the sultanate as a trusted construction and facility management partner for more than four decades now. It is such an honour to be Majid Al Futtaim’s appointed main contractor for new My City Centre Sur project in Oman," remarked Mohandass Saini, the chief executive of Oman Shapoorji Company/Shapoorji Pallonji Mideast.

"We believe that our businesses must touch the lives of people meaningfully and by being associated with the region’s retail pioneer, we are confident that we will deliver on our promise," he stated.

When marking Majid Al Futtaim’s 15 years of investment and relationship-building in Oman last year, the retail pioneer had announced plans to boost its total investment in the sultanate to RO705 million ($1.82 billion) by 2020.
This includes the development of Mall of Oman, City Centre Sohar, My City Centre Sur, the continued development at Al Mouj Muscat, and the expansion of its existing retail and entertainment businesses including Magic Planet, Carrefour and Vox Cinemas, it added.

Majid Al Futtaim’s planned investments are anticipated to create more than 42,000 direct and indirect job opportunities in the sultanate over the next five years, including a significant percentage of Omani nationals seeking career development.

The continued investment in Oman’s retail, leisure and entertainment infrastructure by Majid Al Futtaim supports the country’s National Strategy for Tourism 2040, which targets a 6 per cent rise in the contribution of the tourism sector to GDP and a near doubling of visitor numbers to five million annually.-TradeArabia News Service

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