UAE-based Majid Al Futtaim will invest a further $1.3 billion in Oman by 2020, in addition to the $549 million already invested since 2001.
Planned investment includes Mall of Oman, City Centre Sohar, My City Centre Sur, the next phase of development at Al Mouj Muscat and additional investments from other Majid Al Futtaim businesses including Magic Planet, Carrefour and VOX Cinemas.
When it opens in 2020, the 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 1.5 million sqft retail space. It will feature many ‘firsts’ including Oman’s largest snow-park, with an 86,000 sqft play area, and a Little Explorers edutainment centre.
It will also include the Sultanate’s first Abercrombie & Fitch outlet and largest VOX Cinemas and Magic Planet, as well as a 142,000 sqft 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 430,000 sqft. These will include businesses owned and managed by Majid Al Futtaim, such as a 79,600 sqft 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 177,500 sqft of retail space, comprising 50 outlets, a 73,700 sqft 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.
“We have always been pioneering in the Omani market. We are proud to renew our commitment to be the leading GCC investor in the Sultanate through our $2.5 billion investments, which include the development of Mall of Oman, City Centre Sohar and My City Centre Sur, as well as additional investments from our retail, leisure and entertainment businesses. We look forward to completing our projects and seeing them deliver more great moments for everyone, everyday,” says Alain Bejjani, CEO of Majid Al Futtaim – Holding.
Majid Al Futtaim is also expanding its existing City Centre Qurum shopping mall in Muscat. The revamp will see the introduction of multi-brand retail concept Centrepoint as well as additional car parking spaces. Furthermore, the company is developing the next phase of Al Mouj Muscat, an oceanfront mixed-use destination, and expanding its VOX Cinemas and Carrefour hypermarkets to new locations across the Sultanate.
According to a report by the United Nations, the fashion industry accountsFebruary 18, 2021 | By Shruthi Nair
The jewellery making industry has been under tremendous scrutiny over the yearsFebruary 11, 2021 | By Shruthi Nair
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
UAE-based Al Maya Supermarkets is hosting a two-week food festival at select
Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the
Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created
UAE-based Al Islami Foods, one of the largest frozen food companies in
Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free
World’s largest fully integrated online brand in fresh fish and meat e-commerce
Homegrown, organic and plant milk company, Koita has announced its expansion into
Carrefour has announced that it is expanding its robotic fleet, adding 11
Marking the 200th hypermarket opening in Cairo, Egypt, LuLu is celebrating the
Emerging technologies and IT integration in businesses have been taking place for
British fast-fashion retailer Primark says it has no plans to sell its
UAE-based Emaar Malls have announced the resignation of its CEO, Rajiv Suri
Nakheel Malls, the retail arm of master developer Nakheel, has launched its
Majid Al Futtaim has underlined its commitment to sustainability and creating unique
Majid Al Futtaim has opened its first Carrefour store in Tashkent, Uzbekistan.
City Centre Al Zahia, the newest lifestyle and retail experience to arrive
Al Hamra’s annual ‘Winter Shopping Festival’ for all Ras Al Khaimah residents
Dubai Duty Free’s 72 hours anniversary sale from December 18 to December 20,
On 26 December, Majid Al Futtaim Malls across Dubai will host the