Saturday, 25 Mar 2023
Foundation stone of RO5bn Madinat al Irfan project laid

Foundation stone of RO5bn Madinat al Irfan project laid

The ceremony was hosted by Oman Tourism Development Company (Omran), the executive arm of the government for the improvement of the tourism sector, and Majid al Futtaim, the top buying mall, communities, retail and leisure pioneer across the Middle East, Africa, and Asia.

The ceremony also led to the announcement of joint venture organization among Omran and Majid al Futtaim, named Madinat Al Irfan Development Company which will oversee the project.

It has eight board members, chaired by H E Talal al Rahbi, deputy secretary common of the Supreme Council for Planning.

Speaking on the occasion, H E Rahbi mentioned, “We are delighted to celebrate the establishment of the Madinat Al Irfan Development Company and highlight the progress taking shape in the first phase of the new city. The overall scale of the project is unprecedented and directly aligns with the government’s vision to invest in sustainable development to strengthen and diversify the economy. We believe that Madinat al Irfan’s mixed-use offering will transform Oman’s economy with significant socio-economic benefits to the country.”

As the master developer of four.9mn sq m of the core of Madinat al Irfan, Majid al Futtaim is operating on the very first phase of the master strategy which contains serviced plots accessible for industrial, residential, educational, healthcare, leisure and hospitality improvement. “Phase one of the city, consisting of approximately 250,000sq m, will be developed over the next five years and will include public amenities. When complete, the first phase of the joint venture development will be a vibrant mixed-use community that will serve as the new urban centre for Muscat, integrating residential communities and places of commerce and leisure. It will create more than 30,000 direct and indirect jobs,” H E Rahbi mentioned.

Peter Walichnowski, CEO of Omran, mentioned, “The partnership with Majid al Futtaim is in line with our strategic approach in bringing together the highest standards of expertise in quality development with genuine local heritage and passion. This partnership will strongly contribute to the strengthening and diversification of the economy to support Oman’s Vision 2040 through pioneering tourism infrastructure and lifestyle development. By partnering with Majid al Futtaim, I have no doubt that we will create a fantastic array of world-class experiences for the benefit of the local community and international visitors alike.”

Information Source: Muscat Daily

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