An announcement was made by Dubai-based Al-Futtaim as to the signing an agreement with officials in Oman to construct the country's largest retail mall. A memorandum of understanding was signed between the Oman Tourism Development Company (Omran) and the Omani National Investment Funds Company SAOC (NIFCO) with Al-Futtaim for Muscat project.
The construction would be built beside the proposed Oman Convention and Exhibition Center. It would be the address of the first IKEA store in Muscat together with other renowned brands such as Marks&Spencer and Toys 'R Us. There will also be an entertainment and a food court built into the complex.
According to Al-Futtaim Vice Chairman Omar Al-Futtaim, "This is a significant milestone for All Futtaim's operations in Oman. The creation of major retail hubs is crucial towards the development of tourism as it helps destinations attract both regional and domestic traffic and this agreement today lays the foundations upon which Muscat can enhance its future tourism product and enrich the city's retail landscape."
He added, "The super-regional mall is designed to inject a new impetus in the local job market both in the short and in the longer terms and upon its completion it aspires to meet the increasingly discerning retail and entertainment needs of rapidly growing middle income Omanis while helping the country attract more cross-border, intraregional and international visitors."
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