USD117 million investment in a shopping mall in Oman
Suhar, Sultanate of Oman, January 24, 2019 Majid Al Futtaim, shopping mall, communities opened its fourth shopping and leisure destination in Oman, City Centre Suhar.
The OMR 45 million (USD 117 million) mall houses some of the most sought-after international and regional retail stores such as The Body Shop and Max Fashion, exciting entertainment and leisure experiences, and varied dining options from cafes to family restaurants. City Centre Suhar will service a population of 570,370 residents in the burgeoning port city and industrial hub, Suhar, and surrounding districts, Liwa and Shinas.
“We are pleased to introduce our renowned City Centre brand to Suhar, providing a single contemporary destination for residents and tourists to enjoy a curated mix of international and regional retail outlets, outstanding leisure activities, and unique dining experiences. Majid Al Futtaim is committed to delivering an unrivalled retail and lifestyle experience to growing cities in Oman, and the opening of City Centre Suhar achieves a major milestone in our investment strategy for the Sultanate,” said Husam Al Mandhari, Senior Mall Manager – Oman – Shopping Malls at Majid Al Futtaim – Properties.
Conveniently located on Batinah Highway, City Centre Suhar has added 35,301 sqm of gross leasable area to the Sultanate’s booming retail sector. With 129 retail outlets, a 7,348 sqm Carrefour Hypermarket and its 12th outlet in Oman, a nine-screen VOX Cinemas, Magic Planet and over 1,000 available parking spaces, City Centre Suhar is a fully integrated retail, dining, and leisure destination that is a new social hub for people to meet and connect.
Sustainability was a key factor in the mall’s development, with an environmentally-friendly design and innovative architectural details that underscore Majid Al Futtaim’s goal of becoming net positive in carbon and water by 2040.City Centre Suhar has set a target to achieve LEED Gold status – the coveted energy-efficient design certification – within three months of opening which is the minimum requirement to collate operational data. This includes implementing sustainable building best practice with enhanced insulation, irrigation by condensation, LED lighting and solar panels that will contribute to the centre’s energy requirements.
City Centre Suhar is part of Majid Al Futtaim’s strategy to increase its total investment in Oman to OMR 705 million (USD 1.8 billion) by 2020, which includes Mall of Oman. Majid Al Futtaim’s investment in Oman’s retail, leisure and entertainment infrastructure 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 5 million annually.