Oman: OSCO, SPML start work on $39.5m mall project
A joint venture between Oman Shapoorji and Shapoorji Pallonji Mideast has broken ground on Majid Al Futtaim Properties’ $39.5m My City Centre Sur mall project
Construction has commenced at Majid Al Futtaim’s $39.9m (OMR15.2m) My City Centre Sur mall development in Oman.
The news follows the appointment of a joint venture (JV) between Oman Shapoorji Company LLC (OSCO) and Shapoorji Pallonji Mideast LLC (SPML) as the main contractor for the project.
My City Centre Sur will offer 16,500m2 of gross leasable area. The mall will include a 6,800m2 Carrefour hypermarket, and 50 stores and food-and-beverage (F&B) outlets.
Commenting on the project’s progress, Ghaith Shocair, chief executive officer of shopping malls at Majid Al Futtaim Properties, said: “The appointment of the contractor and ground breaking of My City Centre Sur means that we are several key steps closer to creating great moments of everyone, every day, in that community.”
In 2016, Majid Al Futtaim announced plans to increase its total investment in Oman to $1.8bn (OMR705m) by 2020. In addition to My City Centre Sur, this investment will include the construction of Mall of Oman and City Centre Sohar, the continued development of a project within Al Mouj Muscat, and the expansion of its existing businesses.
Majid Al Futtaim anticipates that its planned investments will create more than 42,000 direct and indirect jobs in the sultanate during the next five years, including Omani nationals seeking career development opportunities.
Mohandass Saini, chief executive officer of OSCO, said: “It is such an honour to be Majid Al Futtaim’s appointed main contractor for the new My City Centre Sur project in Oman. 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.”
My City Centre Sur is scheduled to complete by 2018, according to its developer.