UAE-based property developer and manager Majid Al Futtaim Properties has broken ground on the Mall of Oman, according to a company statement on Tuesday.
Sarooj Construction and its subcontractors are set to undertake the enabling and highway works of the mall during phase one, while construction on the mall will begin in early 2017.
Mall of Oman is scheduled to open in 2020 and is set to become the sultanate’s largest retail and entertainment complex on a 137,000 square meter retail space, including a snow park and an 8,000 square meter play area.
The mall is part of increased investments into Oman by Majid Al Futtaim of OMR 515 mn. Last week, Gulf Business reported that the company had invited proposals from regional and Omani banks to finance the Mall of Oman, set to cost an estimated $700 mn.