Palm Mall renamed as Mall of Muscat
Al Jarwani Group and Tamani Global for Development & Investment has announced the rebranding of Palm Mall to Mall of Muscat. It also announced the launch of the second phase of the construction at the Sundus Rotana Hotel.
Held under the patronage of H E Mohammed bin Salim bin Said al Toobi, Minister of Environment and Climate Affairs, the event highlighted the commitment of the developers to the growth of Oman’s economy and tourism through the creation of more than 5,000 direct and 2,000 indirect jobs.
The event was one of excitement as various new details were announced, beginning with the unveiling of the official re-branding of Palm Mall to Mall of Muscat.
Al Jarwani Group and Tamani Global for Development & Investment felt it essential to rebrand in order to best reflect the magnificence of the mall and its attractions and for the public to see why Mall of Muscat will truly be a mall that showcases worldclass standards of Omani devel- opment and will be a destination for all. Mall of Muscat will be developed as a unique landmark for the sultanate.
Sheikh Mahmoud al Jarwani, chairman, Al Jarwani Group said, “Today we have signed a loan to finance the second phase of the mall with a total value of RO22mn. The Mall of Muscat will open in the third quarter of next year.”
He added, "Contributing to a better future for all is our vision and Mall of Muscat epitomises this vision. With the support of our partners, we are able to share with you the latest exciting progress and construction updates. The importance of job creation within the sultanate is at the forefront of our minds and with the Mall of Muscat, we are dedicated to supporting the Omani economy and help all to grow and develop.”
Syndication agreements were signed with number of banks including Ahli Bank, United Ahli Bank and Bank Nizwa.
The mall also signed agreements with Al Shaya Group, Lulu Group, Al Othaim Group from Saudi Arabia, Omantel and Landmark Group.
Mall of Muscat will be located in Ma’abela. It will house the much-anticipated Oman Aquarium (8,000sq m) and an enormous Snow Park (5,500sq m).