- Mall to be developed in partnership with UAE company
- A three-star hotel and an office tower will be constructed during the second phase
Omans Sarooj Construction Company (SCC) is set to invest $120m in developing a mall in southeast of Iran, according to local reports.
The 60,000 square metre Sarooj Pars Complex will be built in the Kerman area in partnership with the Omans WJ Towell.
Simon Karam of SCC was quoted in a local newspaper saying that the Omani firm owns 50 per cent of the project although interest from other Omani investors could see the company reduce its share to make room for others.
A three-star hotel and an office tower will be constructed during the second phase of the project.
The first phase is expected to take up to three years.
As Iran prepares for the lifting of sanctions, tourism is expected to be an important sector. Growth in tourism, along with increased traction in business activities, is expected to be among the major drivers for travel over the short-to-medium term.
In early September Frances Accor Hotels announced it will be the first international hotel group to operate in Iran. The firm has announced the opening of two hotels in Tehran.
The French group said in a statement on 14 September that it will open an Ibis hotel and a Novotel branch near the capitals international airport.