Muscat Grand Mall to be expanded
Muscat , August 14, 2013
Tilal Development Company, an Oman-based real estate firm, is set to expand the Muscat Grand Mall, the youngest retail destination in the Sultanate.
The new development will house 100 new retail outlets in 30,000 sq m of additional mall space, bringing new global brands to Oman for the first time and taking the total number of stores to 250, said a statement.
In addition, the growth plans include doubling the area of parking space and expanding the entertainment options, it said.
Abdul Rahman Barham, a board member of Tilal Development Company, said: "It gives us great pride to announce the second phase of Muscat Grand Mall, which will give customers in Oman the opportunity to experience a retail destination of international standards.”
“Using funding of RO50 million ($129.5 million), major investments will be made towards raising the profile of the mall as well as creating a world class shopping and entertainment destination for the people of Oman."
"As part of the Tilal Complex, the Muscat Grand Mall - the first phase of the project has been successfully completed with over 90 per cent of the retail and residential spaces already sold. In addition, the expansion will create increased employment opportunities for Omanis and will also be a mechanism through which we can support small and medium enterprises,” said Barham.
“At present, the retail outlets boast 25 per cent occupancy from SMEs and it is our endeavour to take this initiative further. We recognise that such developments also support the city's growth outlook and further reinforce its core economic sectors, including retail, tourism and hospitality," he added. - TradeArabia News Service
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