By Vinod Nair — MUSCAT: March 21 - The much-awaited Palm Mall project should be ready next year, according to the topmost official of the company. Speaking to the Observer, Mahmood Mohamed Ali al Jarwani, Chairman, said, “The nature of this project is different from other shopping malls. The aquarium is spread over 8,000sqm built-up area; also not to forget the Snow Village. Delays are technical and currently we have completed 70 per cent of the work.”
The company says the project will include VOX cinema, hypermarket (Lulu) four-star hotel, service apartments and amphitheatre, and once completed it will generate 12,000 jobs for the local community. The project is located to the South of Seeb.
Al Jarwani said, “We are watching the current economic situation carefully and would be able to overcome the obstacles.
Interest rate is increasing so is the cost of financing. Also there is more competitions, but these are some of the challenges and we have to face them.”
He added that the Palm Mall Suhar should be ready in the next few months and there is this mixed-used project coming up in Khasab. Two new hotels projects are also coming up in Muscat and Suhar.
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