AL MUZN CENTRE - McARTHUR · Al Muzn Centre will be a family shopping and dining destination and a...

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AL MUZN CENTRE RETAIL LEASING OPPORTUNITY

Transcript of AL MUZN CENTRE - McARTHUR · Al Muzn Centre will be a family shopping and dining destination and a...

Page 1: AL MUZN CENTRE - McARTHUR · Al Muzn Centre will be a family shopping and dining destination and a meeting place for the community for many years to come. ... McARTHUR + COMPANY

AL MUZN CENTRE RETAIL LEASING OPPORTUNITY

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AL MUZN CENTRE

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POSITIONING

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MARKET OPPORTUNITY

DESTINATION OMAN

Oman has been ranked amongst the top 20 most attractive destinations

for retail investment according to the AT Kearney’s 2014 Global Retail

Development Index. This is on account of its robust economy, growing

population and increasing consumer confidence - all of which contribute

to make the Sultanate of Oman a popular growth location for regional

and global retail players. Further, there has been a considerable increase

in the salaries of government sector employees in 2014, which has only

given this market more momentum in terms of spending behavior.

Overall, the retail sector in Oman is set to enjoy solid growth in 2015,

with disposable income on the rise and economic expansion being fed

by higher levels of state and private investment.

MUSCAT RETAIL REAL ESTATE

Retailer demand for space in Muscat has intensified throughout 2014

and currently, more than 380,000 sqm of new generation mall space is

set to become available over the next five years. High street retail units

in Muscat’s densely populated areas are operating at near 100 per cent

occupancy. New retail space is expanding westwards and the North

Seeb area.

Al Muzn Centre is located in the Al Mawalih district in the Seeb area,

which is one of the fastest growing residential and retail districts in

Muscat. Adjacent to the Muscat International Airport, this well planned

and designed community shopping centre would serve the rapidly

growing population in the districts of Al Mawalih, The Wave, Al Hail

(North and South), Al Koudh as well as the expanding workforce from

the new Muscat International Airport.

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PROJECT OVERVIEW

PROJECT DETAILS

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Al Muzn Centre will be an international standard community shopping

centre of 11,760 sqm with strong emphasis on convenience for the

customers and excellent selling environment for the retailers. Al Muzn

Centre’s unique architectural setting will create a pleasant environment

appealing to the need of the community.

Al Muzn Centre has been designed to be a convenient alternative to

the larger regional malls.

Special emphasis is on creating a comfortable and stylish contemporary

retail environment. The tenant mix is designed to cater the day to day

needs of the North Seeb Region.

PROJECT DETAILS

Project Al Muzn Centre

Developer Majan Development

Location Al Mawalih, Seeb Area

Gross Leasable Area (m2) 11,760

Number of Units (#) 62

Number of Parking Spaces 353

Construction Start Date Q4 2014

Estimated Completion Date Q1 2016

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AL MUZN CENTRE

TRADE AREA

AL MUZN CENTRE

OMAGINE PROJECT

2,000 RESIDENTIAL

UNITS

AL HAIL SOUTH

COMMUNITY

35,000 RESIDENTS

AL HAIL NORTH & AL

MAWALIH

COMMUNITY

30,000 RESIDENTS

AL MAWALEH SOUTH &

HAYY AS-SHAWA

COMMUNITY

11,500 RESIDENTS

THE CALEDONIAN COLLEGE

3,700 STUDENTS & 390 STAFF

THE SULTANS

SCHOOL

1,600 STUDENTS

NEW AIRPORT

LOGISTICS CENTRE

2,000 UNITS

THE WAVE

4,000 RESIDENTIAL

UNITS

NEW MUSCAT INTERNATIONAL

AIRPORT

12 MILLION PASSENGERS PER ANNUM

(EXPECTED COMPLETION IN 2016)

POPULATION SUMMARY: Al Hail North & Al Mawalih 30,000 Residents

Al Hail South 35,000 Residents

Al Mawaleh South & Hayy As-Shawa 11,500 Residents

TOTAL POPULATION 76,500 RESIDENTS (EST)

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SITE ANALYSIS

PROPERTY MAP

HOSPITAL

NEW AIRPORT

LOGISTICS CENTRE

EXCEPTED 2,000

UNITS (2016)

THE WAVE

4,000 RESIDENTIAL

UNITS

MAIN ROAD CONNECTING AL MUZN

CENTRE WITH AL MOUJ STREET TO BE

EXPANDED INTO DUAL CARRIAGEWAY

AL HAIL GREENS

1,150 RESIDENTIAL

UNITS

PRIMARY & SECONDARY

SCHOOL

AL MUZN MASTER PLAN

• SHOPPING CENTRE OF 11,760 M2 GLA –

EXPANSION TO 27,000 M2 GLA IN 2018 (EST)

• 250 RESIDENTIAL UNITS

• 350 HOTEL & FURNISHED APARTMENT

UNITS

• OFFICE BUILDING of 1,000 M2 GLA

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AL MUZN MASTERPLAN

AL MUZN SITE MASTERPLAN PHASES

AL MUZN

FURNISHED

APARTMENTS

AL MUZN

RESIDENTIAL

TOWER

AL MUZN

HOTEL

AL MUZN RESIDENTIAL

TOWER

AL MUZN

SHOPPING

CENTRE

MA

IN R

OA

D

MA

IN R

OA

D

DIRECTION

TOWARDS:

- AL MOUJ STREET

- AIRPORT

- AL SEEB STREET

- SULTAN

QUABOOS

HIGHWAY

AL MUZN CENTRE

FUTURE

EXPANSION

PROJECT PHASE 1

PROJECT PHASE 2

FUTURE SC EXPANSION 17,000 M2

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AL MUZN MASTERPLAN

MASTER PLAN ELEMENTS

SHOPPING CENTRE

RESIDENTIAL TOWERS HOTEL

SHOPPING CENTRE

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FLOOR PLANS

AL MUZN CENTRE – GROUND FLOOR

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FLOOR PLANS

AL MUZN CENTRE – FIRST FLOOR

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FLOOR PLANS

AL MUZN CENTRE – SECOND FLOOR

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MARKET ANALYSIS - DEMAND

TRADE AREA DELINEATION – POPULATION DISTRIBUTION

Methodology

Trade areas are considered areas where the project’s core customer segments are expected to travel from.

Several factors inform a project’s trade area. These include travel time (vehicular and transit) and proximity of competitive retail

centres.

It is expected that residents living within a 10 minute drive time of the project site would visit the project. The project will offer

customers a differentiated experience and tenant offering.

Trade Area Population

Population 2013: 412,101

Population 2016: 440,637

Population 2018: 475,402

15 km 10 km

5 km

20 km

Trade Area Delineation

Legend

1 Dot = 500 people

15 Minute Drive Time

30 Minute Drive Time

Drive Time

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Al Muzn Centre is positioned to serve the needs of the trade area growing population, increased number of tourists and the rapidly growing airport

workforce. Muzn's convenient location will become a hub for the community to enjoy. A large number of new residential units as well as the hotel

rooms in the immediate trade area will provide a distinct advantage to Muscat's latest retail destination. Major road improvements will create easy

access to Al Muzn Centre for consumers within a 10-15 minute drive time.

Al Muzn Centre's modern and functional architectural design is well integrated within the site master-planned community. With a strategic blend of

customer convenience amenities, a strong retailer and services mix, restaurants, women's spa will undoubtedly position Al Muzn Centre as the

number one choice for everyday shopping and relaxing in the north Seeb district of Muscat. Al Muzn Centre will be a family shopping and dining

destination and a meeting place for the community for many years to come.

AL MUZN CENTRE

HOW WILL MUZN CENTRE WORK?

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AL MUZN DEVELOPMENT PARTIES

MAJAN DEVELOPMENT

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Majan Development is a real estate company actively engaged in development

and investment throughout Omani society, and committed to making an

effective contribution to the growth and prosperity of the urban sector in the

Sultanate of Oman. The company is dedicated to the provision of high quality

and value-added projects and products, based on its inherited values and belief

in maintaining the architectural identity of Oman. Key areas of operation

include residential, office and tourism development projects and the

management of real estate investment funds.

Majan development is founded as a Closed Omani Joint Stock Company, with

a licensed capital of RO 49 million and a paid up capital of RO 25 million. It

derives a great deal of its real estate expertise and authority from the activities

of its founders in many vital investment and commercial sectors, such as

Sharjah Islamic Bank, Commercial Real Estate Company, Ministry of Defense

Pension Fund, Gulf Investment House, Public Authority for Social Insurance,

Oman Cement Company, Royal Guard of Oman Pension Fund, and Oman-

UAE Holding Company.

McARTHUR + COMPANY

The creation of shopping centres that generate strong returns for the investor

and profitable sales for the retailers is at the heart of McARTHUR +

COMPANY’s approach to shopping centre and mixed-use development,

leasing and operations advisory.

2011 marked the launch of McARTHUR + COMPANY with the opening of

office in Dubai, UAE. Since that time the firm has provided valuable strategic

advice and leasing and management services to projects in the UAE, Saudi

Arabia, Bahrain, Qatar, Kuwait, Jordan, Oman as well as USA and Canada.

Today McARTHUR + COMPANY boasts of a talented team of over 30

industry professionals with decades of shopping centre development

experience in North America, Europe, South Africa, Asia and the Middle East.

Our strategy is to add real financial value to each retail development

project. Our team is well experienced in shopping centre investment, finance,

development planning, retail leasing and management and marketing.

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Amit Puri, MRICS

General Manager – Leasing

[email protected]

+971 55 635 0641

Tishana Raheem

Leasing Manager

[email protected]

+971 56 403 9289

CONTACTS

FOR LEASING ENQUIRIES PLEASE CONTACT: +968 92603986

WWW.MCARTHURCOMPANY.COM

Disclaimer: Company accepts no liability for the content of this email, or for the consequences of any actions taken on the basis of the information provided, unless that information is subsequently confirmed in writing. If you are not the intended recipient you are notified that disclosing, copying, distributing or taking any action in reliance on the contents of this information is strictly prohibited.