Tilal to issue $137.7m sukuk to fund expansion of Muscat Grand Mall
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Tilal to issue $137.7m sukuk to fund expansion of Muscat Grand Mall

Tilal to issue $137.7m sukuk to fund expansion of Muscat Grand Mall

Omani real estate firm, Tilal Development Co has announced plans to raise OR53m ($137.7m) through a sukuk issuance to fund the expansion of the complex that houses Muscat Grand Mall, Oman Daily Observer has reported. The Muscat Grand Mall features fully leased and already operational 67,000 sq m of shopping area. "Additionally, owing to demand and market interest in our project, the expansion was an effortless decision. Towards the same, we are also glad to be pioneering the sukuk market in Oman and hope that it will grow exponentially here from," said Hassan Jaboub, general manager of Tilal.

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