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Sohar Mega Mall developer secures OR8.5m loan

Developer of Sohar Mega Mall in Oman, Al Jarwani Group has signed an agreement with Bank Sohar for availing OR8.5m term loan for building the project, Times of Oman has reported. The project, expected to cost OR15-16m, is to be built on a 55,500 sq m plot of land, with a total built up area of 50,000 sq m. The mall will comprise a hypermarket, anchor stores, 63 line retail stores, nine to ten speciality restaurants and cafes, eight to nine food and beverages counters in food court, a family entertainment centre, five screen cinemas, parking facility for 500 cars and a three-star, 116-room hotel. The project is scheduled to be ready by 2015.