Al Raid Group to invest $1bn in retail, leisure and tourism sectors

Muscat - 

Al Raid Group has announced its resolution to allocate US$1bn worth of investments in retail, leisure and tourism sectors for the next five years.

At a press conference on Sunday, Al Raid Group announced that this investment plan started in 2015 with Al Araimi Boulevard, which shall be opened in September 2018 and will be followed with the opening of Al Araimi Walk projected in 2020.

In a press release, Sheikh Abdullah bin Ali al Araimi, chairman of Al Raid Group, said that the Al Araimi Walk is the largest shopping, entertainment and touristic destination in the sultanate with a value of RO112mn and an area of 240,000sqm. “Al Araimi Walk is considered one of the vital projects to be implemented by the private sector in response to the directives and guidance of His Majesty Sultan Qaboos bin Said, to create a partnership between the private sector and the government,” he said.

The announcement by Al Raid Group follows the completion of the 135,000sqm Al-Araimi Boulevard project in Al Khoudh new commercial area.

Al Araimi Walk includes a four-star hotel in Al-Somhan area in Barka, which is a strategic location for the construction of Al Araimi Walk project.

Design International Architects has designed Al Araimi Walk in line with the highest international standards. Al Araimi Walk will be a destination that combines contemporary architectural design with modern architecture and interior design that demonstrates the picturesque nature of Oman. The interior will have 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.

Araimi said, “Al Araimi Walk includes a selection of world-class restaurants, cafes, outlets of fashion and beauty; jewellery; antiques; gifts and perfumes, as well as entertainment halls, cinema, bowling halls, virtual reality games and a 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 is the first outlet mall to be developed by Al Raid Group as a world-class brand for families, tourists and shoppers of all ages.

It 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.

For his part, Sheikh Raid bin Abdullah al Araimi said that Al Araimi Walk will provide 264 stores and 5,400 parking spaces. “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, a family entertainment centre, a rock climbing slope and many other adventures,” he said.

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