Pact for new shopping complex in Al Khuwair
Muscat Municipality signed an agreement with Bayan Investment Company to use the land of the Municipality to establish a commercial complex in Al Khuwair
Times News Service
MUSCAT: A new shopping mall will be built in Muscat’s Al Khuwair district in the wilayat of Bausher, municipal authorities have announced.
Muscat Municipality signed an agreement with Bayan Investment Company to use the Municipality’s land to establish a commercial complex in Al Khuwair. The agreement was signed by Muscat Municipality Chairman Mohsen bin Mohammed Al Sheik and CEO of Bayan Investment Company Sheikh Fahd bin Mohammed bin Hilal Al Khalili at the municipality headquarters in Darsait.
The agreement stipulates that Bayan Investment Company will be allowed to use the plot of land (3,380 sqm) in Al Khuwair to implement a community mall and that they would start the project within one year from the date of signing the contract.
The municipality said, “The project is an integrated commercial complex consisting of two floors with a building area of 6,000 square metres. The project also includes 36 commercial units and 200 parking spaces.”
It further said that the contract included the development, improvement and maintenance works of Al Khuwair Park, as well as a children’s play area with modern equipment and tools.
The agreement stipulates that the company shall maintain the project facilities throughout the period of utilisation, and pay bills and other charges related to the delivery of these services or any services related to the project during the period of the contract.
The company is also obliged to register all the lease agreements with the tenants in the municipality and to provide health requirements and safety precautions in accordance with the regulations adopted by the competent authorities.