Agreement signed to set up China Town Centre in Sur

Business Saturday 20/October/2018 14:33 PM
By: Times News Service
Agreement signed to set up China Town Centre in Sur

Muscat: Shumookh Al Sharqiya Construction and Investment Company signed an investment agreement with Oman Bahrain Investment and Development Company to build China Town Centre in the wilayat of Sur in Sharqiyah South governorate.
The agreement was signed by Eng. Musallam Al Hudaifi, Chief Executive Officer of Shumookh Investment and Services Company which is the investment arm of the Public Establishment for Industrial Estates (PEIE), Yasser Al Alawi, Managing Director of Al Sharqiya Real Estate Development and Investment, and Abdul Hadi Al Nasser, Oman Bahrain Investment and Development Company’s Chairman of the Board.
China Town Centre Complex, which will be managed and marketed by Re/Max Real Estate International, will be situated in Sur Gate project on a total area of 25,559 square metres in a strategic location on the highway that connects Sur with Quraiyat.
The project is an extension of existing and underway projects such as City Walk (Phase 2), Lulu Hypermarket in addition to Danube’s stores and showrooms project. The initial cost of the project is estimated at OMR4 million.
The centre shall offer easy access to enter and exit and will have a combination of unique Omani and Chinese designs as well as will be a distinctive destination for the community, families and business persons. It will provide a completely new shopping experience and will cater to the shopping needs of the inhabitants of the neighbouring wilayats.
The different types of retail shops inside the shopping complex will be clothes of various kinds, accessories, home furniture, toys, electric tools and equipment’s, building materials and other products at competitive prices. It is hoped that the project will contribute to the development of Sur’s economy and provide job opportunities for the citizens after the start of the operation of the centre by the end of 2019.
The signed agreement aims at promoting shopping and consumer goods for the residents of Sur and the surrounding population at competitive prices, and offering an enjoyable experience for the shoppers.
It should be noted that PEIE’s investment arm – Shumookh Investment and Services SAOC was established in 2010 to develop globally competitive industrial infrastructure in the industrial estates of PEIE and create the best environment for the growth of industries in Oman through the attraction of strategic partnerships to invest and implementation of diverse infrastructure development projects in the industrial estates pertaining to PEIE.