Joining its near neighbours in the development of prestigious retail, leisure and entertainment destinations is Iraq, with its Karbala Oasis development.
The project, in Karbala City, 90km from Baghdad will occupy an area of 222,873sq.m with a leasable area of over 71,000sq.m and is hoping to capitalise on the opportunities offered by the improving Iraqi economy. A recent report claimed the economy will expand by 1.5 per cent this year and go on to grow by 4.5 per cent in 2019, stimulating the country’s non-oil economy and proving a boost to consumer spending.
The US$65m development will see a four-level mall split into five areas: Shopping Oasis, Food Oasis, Fun Oasis, History Oasis and Residence Oasis. It will also be home to a five-Star Hotel with 12 Suites and 98 Rooms.
The group behind the project, Dubai-based Oasis Investment Group will be presenting its plans at the upcoming Smart Stores Expo, devoted to showcasing the latest trends, developments and technologies shaping the future of retail from September 4 – 6 at the Dubai International Exhibition and Convention Centre.
Mr. Haitham Al Mayali, CEO, Karbala Oasis Investment Group, said, “We have envisioned Karbala Oasis to provide Iraq a prominent place on the region’s shopping map. The massive retail complex will feature an incredible range of modern retail spaces with jaw-dropping design elements, teeming with the right features to help retailers showcase their brands and provide one-of-a-kind shopping experience to their customers. With the retail market in Iraq growing, I believe that Karbala Oasis is the most exciting retail opportunity on this part of the globe. We are pleased that Smart Stores Expo is here to help us introduce this extraordinary opportunity to the retail market.”
Image: Karbala Oasis