AL MUZN CENTRE - McARTHUR · Al Muzn Centre will be a family shopping and dining destination and a...
Transcript of 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
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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
+971 55 635 0641
Tishana Raheem
Leasing Manager
+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.