Al Raid Group allocates $1bn for investment
The retail sector has generated 80,000 jobs in 2017 and 12 per cent of the workforce is engaged by Omanis. “There are 54,000 opportunities for employment in the retail sector and there should be well developed collaboration between mall developers and the retailers to take advantage of these opportunities to create more jobs,” Raid bin Abdullah al Araimi, Vicechairman of Al Raid Group, told the Observer after announcing the allocation of $1 billion for investment in the retail, leisure and tourism sector in a five-year investment plan in the Sultanate, which has already begun.
The investment plan started in 2015 with Al Araimi Boulevard, which is expected to be opened in September and will be followed by the opening of Al Araimi walk projected in 2020.
Shaikh Abdullah bin Ali al Araimi, Chairman of Al Raid Group, explained that the Al Araimi Walk would be the largest shopping, entertainment and tourist destination with a value of RO 112 million and an area of 24,0000 square metres.
The objective of the creating these two projects, Al Araimi Walk and The Araimi Boulevard is to make a destination in Oman that is a different catchment area that caters to different population. “The Batinah North and South have a population of 1.1 million, according to the census of 2017. Al Araimi Boulevard is located in the Seeb which has the highest growing number of building projects and a growth of population is another catchment area. Both the projects focus on entertainment, retail, F& B are also designed to be a tourism destination although the designs are completely different,” explained the vice-chairman.
“The project has started on time and will complete on time. It has a huge dome as a special feature as well as excellent lighting,” explained Manilal Limbani, Managing Director of Unique Cont Co, who is also involved in both the projects.
The announcement follows Al Raid Group completion of the 135,000-square metre Al Araimi Boulevard project in Al Khoudh, which will be opened in September 2018.
Al Araimi Walk includes a 4-star hotel in Al Somhan area in Barka, which is a strategic location for the construction of Al Araimi Walk because it is the second largest population density in Oman with high purchasing power and a modern and integrated infrastructure of a modern network of roads, intersections and bridges linking Al Araimi Walk to South and North Al Batinah, Al Batinah Highway and Al Dakhiliyah Governorate.
Design International Architects has designed Al Araimi Walk in line with the highest international standards. The Walk will be a destination that combines contemporary architectural design with modern architecture and interior design that demonstrates the picturesque nature of Oman through the design of expansive spaces with water lakes and green trees topped by glass roof, to highlight the beauty of the place, and to give all visitors a sense of comfort and sophistication.
Al Araimi Walk is to include a selection of world-class restaurants, cafes, fashion and beauty, jewellery, antiques, gifts and perfumes, as well as and entertainment halls, cinema and bowling halls, virtual reality games and closed water park.
Al Araimi Walk is characterised by spectacular outdoor sessions and high-quality corridors designed to provide a comfortable environment for shoppers and visitors in a fun and thrilling atmosphere.
Al Araimi Walk will provide 264 stores in an area of 240,000 square metres and will provide 5,400 parking spaces. It will be built in the Al Somhan area in Barka with a 400-metre front on Sultan Qaboos Road directly connected to a modern road network and direct entrances to the walkway. The Walk will be the largest entertainment destination with its many options, as there is no other mall close to providing such an enjoyable experience of this size and space.
For the first time, it will include a ski park, an ice-skating ring, an indoor water park, a trampoline park, the virtual reality complex (VR), a family entertainment centre, a rock climbing slope and many other adventures.
Al Araimi walkway will provide 1,200 direct jobs and 1,800 indirect jobs and Al Araimi Boulevard will provide 800 direct jobs and 1,200 indirect jobs in September.