Sunday 06 / October / 2024
Muscat: Muscat Municipality and Bayan Investment House inaugurated the Al Khuwair Square commercial complex on Monday.
Isam Al Zidjali, chairman of Muscat Municipality, patronised the inauguration ceremony, in the presence of Sheikh Yahya bin Nasir Al Harrasi, Wali of Bausher, and Sheikh Fahad bin Mohammed Al Khalili, CEO of Bayt Bayan Investment Company, and a number of officials from the municipality and the wilayat of Bausher.
The project is an investment agreement between Muscat Municipality and Bayan Investment House LLC so the company benefits from the municipality’s 5,150 square metre plot located in Al Khuwair in the wilayat of Bausher to build a diversified commercial complex and a community mall.
The idea of the project came to serve the population and urban expansion, and meet the market need for a commercial complex in Al Khuwair area with an innovative urban conception.
The project is an integrated commercial complex consisting of two floors built on an area of 6,000 square metres, with green space and open air dining in the middle of the complex, to serve the visitors of the mall.
Bayan Investment House implemented the project in a 14-month period, despite the challenges posed by the pandemic.
It contains 36 commercial units spread over two floors, with 200 parking lots, and a number of public facilities such as prayer rooms and public toilets. The project occupancy rate has reached 80 per cent of the rentable spaces.
The agreement between Muscat Municipality and Bayan Investment House also includes development and maintenance of Al Khuwair Public Park, adding new games for children, establishing a dedicated fast food outlet under the management of a global operator within the surroundings of the park, in addition to building public toilets in Al Ghubrah Beach Park.
The operating company shall undertake periodic maintenance of the project’s facilities throughout the period of use, pay the bills and other fees related to the delivery of services, and any services related to the project during the validity period of the contract.
With its commitment to register all lease contracts with lessees in the municipality, pay the prescribed fees for that, and provide all health requirements and safety precautions in accordance with the regulations approved by the competent authorities.
