Bank Muscat to finance Majid Al Futtaim’s Mall of Oman project

MUSCAT: Bank Muscat, the leading financial institution in the Sultanate, and Majid Al Futtaim Properties signed a term finance agreement for the Mall of Oman project. Anticipated to open in 2020, the Mall of Oman will be the largest shopping mall in the Sultanate. Bank Muscat is offering exclusive financing facility for development of the Mall of Oman project.

The agreement was signed by Abdullah Al Hinai, general manager, Wholesale Banking on behalf of Bank Muscat and Shrimati Damal, chief financial officer, Majid Al Futtaim Holding. The ceremony was attended by Waleed Al Hashar, deputy chief executive officer of Bank Muscat, and senior management team members of Bank Muscat and of Majid Al Futtaim. Bank Muscat is offering exclusive financing facility for development of the Mall of Oman project

“Bank Muscat is proud to successfully close the long-term financing facility with Majid Al Futtaim Properties for the prestigious Mall of Oman project. The financing agreement comes within the scope of joining hands with partners to achieve the highest value for the national economy,” Abdullah Al Hinai said: “The agreement is a clear indication of the availability of viable financing facilities in Oman. Bank Muscat is focused on playing a prominent supportive role in projects of national importance and the association with the Mall of Oman project will further strengthen this approach,” he further added.

> B3