Group announced last year that it was allocating $1bn for investment into projects
Al Raid Group has said that it has laid the foundation stone for its $290m Al Araimi Walk. The project will be a major shopping, entertainment and tourist destination in Oman, according to a report by the Oman News Agency.
The project will take shape in the Al Samahan, Barka region of the sultanate. According to the developer, the 140,000sqm project will boast a four-star hotel, a business centre, an indoor water park, a large ski circuit and cinema. It will also feature virtual reality games, a closed water park and ice town, as well as a kilometer-long walkway.
“Al Araimi Walkway will be a commercial centre with commercial, entertainment and touristic objectives. It will be an addition to the national economy, enhance the development process in the country, and translate the government’s directions in finding projects that play a role in providing employment opportunities within the framework of partnership between government and private sector and maximising its local investments,” said Sheikh Raid bin Abdullah al Araimi, deputy chairperson of Al-Raid Group.
The project is expected to take 20 months to complete and the developer notes that the project will be ready to open in November 2020. Once complete, the project is expected to create 3,000 job opportunities, including 1,200 direct and 1,800 indirect, Araimi noted.