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Contracts signed to fund Phase 2 of $390m mall in Muscat

Deals worth $57m have been signed to fund the extension works of a 20ha mall in Muscat that is expected to create up to 7,000 jobs in Oman

Phase 2 of Al Jarwani Group's mall in Muscat is being developed.
Phase 2 of Al Jarwani Group's mall in Muscat is being developed.

Contracts have been signed to fund the development of a mall project in Muscat. 

Al Jarwani Group and Tamani International for Development and Investment signed contracts worth $57m (OMR22m) with banks to finance the mall's second phase. 

READ: Construction of Oman's Salalah Grand Mall imminent

The project is expected to span an area of 20ha, with total investments in the project expected to exceed $390m (OMR150m). 

Mahmoud bin Mohammed al-Jarwani, chairman of Al Jawani Group's board, said the mall was being extended "due to good demand for the project". 

Phase 2 works would be completed "in conjunction with the first phase", he added. 

An aquarium spanning 8,000m2, as well as a 5,600m2 glacier park, will be developed within the mall.

ONA reported that the mall would also feature an outdoor dining area and more than 200 retail outlets, creating up to 5,000 direct and 2,000 indirect jobs. 

 

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Construction Week - Issue 743
Jun 01, 2019