Al Futtaim announces $116.8 million

Shopping mall operator and retail firm Majid Al Futtaim has announced plans for a $116.8 million (SR438 million) shopping center in the Omani city of Sohar.
City Centre Sohar, which will have 130 stores, a Carrefour Hypermarket and a nine-screen VOX Cinemas, is due to open in late 2018.
Sohar is a key driver of Oman’s diversification strategy and is home to a major port and free zone.
“As part of Majid Al Futtaim’s growth strategy, we aim to be at the forefront of Oman’s rapid development in the retail industry and bring the best shopping, food & beverage and entertainment experiences to Sohar with this contemporary urban project,” Ghaith Shocair, the chief executive for shopping malls at Majid Al Futtaim Properties, said in a statement.
“Majid Al Futtaim’s investment in the city of Sohar underscores our commitment to creating great moments for everyone, everyday.”
In addition to City Centre Sohar, Majid Al Futtaim Properties owns and operates the newly upgraded City Centre Qurum, as well as City Centre Muscat, which recently underwent a $70 million upgrade.
On the pipeline are the community-centered mall My City Centre Sur and the landmark $714 million Mall of Oman, set to be the Sultanate’s biggest shopping center.
City Centre Sohar aims to achieve LEED Gold status – the coveted energy-efficient design certification – within three months of opening, the company said.
Majid Al Futtaim earlier this month announced the new Dh1.4 billion City Centre Al Jazira mall in Abu Dhabi, located between Airport Road and Muroor Road, with construction set to begin in October. The mall is scheduled for completion in early 2021.
The project is a joint venture between the retail giant and Al Jazira Sports and Cultural Club, and will be anchored with a Carrefour Hypermarket plus 153 retail stores, a 15-screen VOX Cinema and a Magic Planet entertainment center.