OMR 11.3 (29.3 million USD) redevelopment of Muscat and Qurum malls
UAE's MAF Properties announces 80,000 sq ft expansion of Muscat City Centre (MCC) and Qurum City Centre (QCC) malls.
Majid Al Futtaim (MAF) Properties has announced that a major expansion of the Muscat City Centre (MCC) and Qurum City Centre (QCC) shopping malls will be completed early in 2014.
The announcement which follows the appointment of a new senior management team to manage two of Oman's largest shopping centres in May 2012, is expected to add 80,000 square feet of retail space to MAF Properties' already impressive regional retail portfolio. The company's ten other major retail developments are visited by more than 150 million shoppers annually and include the Mall of the Emirates, Bahrain City Centre, Beirut City Center and Cairo's Maadi City Centre.
According to Fuad Sharaf, MAF Properties' senior director of property management, the redevelopment will "significantly boost the emerging entertainment landscape" in the Sultanate through the addition of a new, 3D-enabled ten-screen cinema at the Muscat site, seven-screen cinema at the Qurum centre and general upgrade of existing "Magic Planet" family-themed leisure and entertainment facilities.
MAF Properties was one of the first non-Omani shopping centre developers and operators to establish a presence in the Sultanate when it opened MCC (its first venture outside the UAE) in 2001. In subsequent years the company's parent, MAF Holdings, has successfully exported the "City Centre" concept (which combines mega-malls, leisure and hypermarkets operated under a brand licencing agreement with France's Carrefour Group) across the MENA region and Asia.