According to the real estate consultancy JLL in a recent report, Oman’s developers are working hard to modernise the country’s retail sector to drive footfall and revenues, notably in the big malls, using a diversity of leisure and entertainment projects.
The real estate market, says the report, is heavily influenced by young demographics and retailers are targeting that sector. Dana Williamson, head of retail, offices and business space for MENA at JLL, said: “A number of factors are driving Oman’s retail sector. In particular, the opportunities presented by the evolved demands of its young population, couple with growth levelers, that is expected to promote demand long-term, despite challenging factors.”
The recently opened Mall of Muscat, the 200,000sq.m shopping centre that houses the Oman Aquarium (largest in the Middle East), also has a snow park and go-kart tracks.
Said Williamson: “In line with the regional move towards more experience-led retail offerings, there is an opportunity for developers to introduce new entertainment concepts and strategies to increase footfall and spend and to specifically cater to the young target audience in the sultanate. The newly-opened Mall of Muscat showcases a modernised retail mix focused on enhancing the consumer experience.”
Image: Oman Aquarium.
