Al Mouj Muscat creates ideal location for SMEs to thrive

Value creation: Al Mouj Impact campaign sets out how Oman’s premier lifestyle community’s support for SMEs is contributing to Oman’s diversified growth

BUSINESS REPORTER

MUSCAT, JUNE 7

Al Mouj Muscat has contributed to significant sustainable socio-economic growth as Oman’s first Integrated Tourism Complex (ITC), with the award-winning lifestyle destination creating targeted support that has benefited 150 Small and Medium-Sized Enterprises (SMEs).

As SMEs form the backbone of the economy and contribute 15 per cent to GDP, the Sultanate of Oman recognises as a key driver for growth. Small businesses create job opportunities as well as diversification in the economy, an essential factor in ensuring that an economy remains robust. The partnership behind Al Mouj Muscat, between Majid Al Futtaim, Omran and Tanmia, is committed to Oman’s vision of long-term sustainable expansion and its support for SMEs has had a notable effect, details of which are set out in its Al Mouj Impact campaign.

In total, 150 SMEs are now connected to Al Mouj, with a blend of location and support from the organisation creating the ideal conditions for enterprise to flourish. The lifestyle destination attracts over 3.9 million visitors each year, and with 8,000 residents, the location has very high footfall. Al Mouj also offers businesses access to regional and international markets as it is connected to all major transport networks. The ITC has also invested in world-class amenities, such the Gold Anchor Marina, which creates opportunities for local businesses to set up businesses that serve the growing tourism sector.

There are now 30 SMEs operating within Al Mouj with a further 120 utilising trading platforms it supports, such as pop-up markets like Muscat Eats and Souq Es Sabt. Adding to this, Al Mouj provides access to investment and training, such as in customer service and booking systems for sea tour operators. Its strategy is to support companies as they establish their offer and grow. Aisha al Kharousi, owner of fashion brand Junoon Kanga, recognises the impact that this support has had: “Al Mouj understands enterprise and partners with businesses so that entrepreneurs can succeed.

“With 85 shops and outlets already operating here, its lifestyle, retail and leisure offering drives considerable footfall. Add to that the opportunities that it creates through including SMEs in its own marketing and its year-round calendar of events, and Al Mouj is the place to do business.” Nasser al Sheibani, CEO of Al Mouj Muscat, said: “From our inception, Al Mouj set out to have a positive socio-economic impact on Oman. Part of that is our commitment to creating an eco-system for enterprise, where local talent can thrive, where employment opportunities will be created, and where the next generation of successful businesses can grow.” Established in 2006, Al Mouj Muscat has delivered significant socio-economic benefits, including growth in the tourism sector, job creation, development, foreign direct investment as well as in the SME sector.