Omani real estate company Tilal Development Company has won RO30 million ($77.92 million) funding from Bank Muscat's Islamic unit Meethaq for the expansion of two key projects - Muscat Grand Mall and Millennium Executive Apartments - at Al Khuwair in Oman, said a report.

Meethaq is backing the expansion of the second phase of Muscat Grand Mall with RO25 million ($64.93 million) funding and the Millennium Executive Apartments project with RO5 million ($12.98 million), reported the Oman Observer.

The amount for the RO50-million ($129.87 million) projects will be self-financed by the Omani real estate company, said the report.

The expansion project work will be completed in 16 months and the new mall will cater to several new brands, it added.