Dubai mall operator says Oman investment to hit $1.8bn by 2020

Dubai-based shopping mall developer Majid Al Futtaim has announced that it will boost total investment in Oman to OR705 million ($1.83 billion) by 2020.

The company, Oman’s largest non-energy GCC investor, said in a statement that it will increase its investment in Oman by OR515 million by 2020, in addition to the OR190 million invested since 2001.

The retail firm said that its planned investment includes Mall of Oman, City Centre Sohar, My City Centre Sur, the next phase of development at Al Mouj Muscat, and additional investments from other Majid Al Futtaim businesses including Magic Planet, Carrefour and VOX Cinemas.

Majid Al Futtaim said that when it opens in 2020, Mall of Oman will be the largest integrated retail, leisure and entertainment destination in the sultanate.

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