Muscat: The OMR5 billion Madinat Al Irfan project is expected to create 100,000 jobs for the local and expatriate workforce in Oman.
Madinat Al Irfan is set to be Muscat’s new downtown area, resulting from a collaboration between Majid Al Futtaim and Omran.
“It is a huge investment happening in the non-oil sector.
Majid Al Futtaim has created 42,000 jobs directly and indirectly, and this project will create tens of thousands of jobs, something around 100,000.
It is a massive commitment”, said Alain Bejjani, CEO of Majid Al Futtaim Holding.”
“Other opportunities will be created by this kind of project, including consultancies, different types of services, building materials, contractors, interior designers, and more,” he added.
“The ambitious project is going to be sustainable, as well as inclusive, in terms of being an eco-friendly smart city that is built by luring young Omani employees, as well as SMEs,” Bejjani said.
“It will incorporate the best sustainability practices. And it will be inclusive by being a platform that is open for Omani youth, Omani entrepreneurs, and investors from Oman and abroad,” he said.
The project will include more than 11,000 residential units, 100,000 square meters of retail space, as well as 700,000sqm of office space.
“It’s going to bring a modern lifestyle and a new modern-urban fabric that meets the expectations and demands of modern living.
“It will also create 700,000 square meters of offices and 11,000 residential units,” noted Bejjani.
“It is to built next to the Oman Convention and Exhibition Centre (OCEC). Since it is a long-term project, it is expected to take at least 20 years to be completed. However, the first phase will be finished by 2023.”
“These types of projects are long-term projects and are typically phased,” he added.
I don’t expect this project to take less than 20 years. If you take Al Mouj Muscat, we have been in it for 13 years”, Bejjani said.