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Majid Al Futtaim, the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa region, announced it will increase its investment in Oman by OMR 515 million ($1.337 billion) by 2020, reaffirming its long-standing commitment to the Sultanate.

The company’s investment strategy includes Mall of Oman , City Centre Sohar , My City Centre Sur and additional investments from its retail, leisure and entertainment businesses including Magic Planet, Carrefour and VOX Cinemas.

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Majid Al Futtaim to invest $3.7 billion for two new shopping malls in Riyadh

Majid Al Futtaim’s investments are anticipated to create more than 42,000 direct and indirect job opportunities in the Sultanate in the next five years.

When it opens in 2020, Mall of Oman will be the largest integrated retail, leisure and entertainment destination in the Sultanate.

“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 OMR 705 million 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,” said Alain Bejjani, Chief Executive Officer of Majid Al Futtaim – Holding.

Source: http://www.majidalfuttaim.com/

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