Muscat: Al Raid Group laid the foundation stone for the Al Araimi Walkway in Barka project On Monday.
Spread over 140,000 square meters in the Al-Sawmahan area of Barka, the construction will take about 20 months for the project to be ready by November 2020.
The Walkway is part of Al Raid Group’s portfolio of retail, leisure and tourism projects with an allocation of nearly 400 million Omani Risks to invest in these sectors over the next five years, serving the national economy and contributing thousands of direct and indirect jobs to job seekers.
Al Araimi, said, “Low property prices are a positive factor for the revival of real estate and retail sectors. The growth of the national income of the Sultanate of five per cent in 2019 is the highest among all Gulf countries.”
He added, “The trade sector is witnessing continuous growth and its contribution to GDP rose 4.8 per cent.”
The project will include a four-star hotel, 374 shops, a full range of international restaurants, entertainment, and adventure facilities.
With rents starting from RO590, Al-Araimi Walkway will offer fully-ready shops for small and medium Omani companies.