The Ikea store in Muscat is also designed to promote sustainable living, by contributing to the sultanate’s green agenda. Photo: Ikea
The Ikea store in Muscat is also designed to promote sustainable living, by contributing to the sultanate’s green agenda. Photo: Ikea
The Ikea store in Muscat is also designed to promote sustainable living, by contributing to the sultanate’s green agenda. Photo: Ikea
The Ikea store in Muscat is also designed to promote sustainable living, by contributing to the sultanate’s green agenda. Photo: Ikea

Oman's first Ikea to open in June at Oman Avenues Mall


Evelyn Lau
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Oman's first Ikea will open its doors in June.

Currently, shoppers in the sultanate can purchase items online through the Ikea.ae website, but will soon be able to visit a physical site in Muscat. The Swedish homeware and furniture shop will be at Oman Avenues Mall, in a space that spans 25,000 square metres over two levels.

As with other Ikeas, it will feature room set-ups, from the bedroom to living room and bathroom and kitchen. There will also be a restaurant that seats 394 and serving dishes such as its famous Swedish meatballs.

The shop is designed to promote sustainable living by contributing to the sultanate’s green agenda using solutions that help reduce waste, save energy and conserve natural resources.

Examples include using LED bulbs to reduce electricity consumption and alternating current power supply to provide more efficient air-conditioning, with its condensation to be used for the mall’s landscaping.

The retailer has also pledged to design every product to be reused, refurbished, remanufactured, and eventually recycled, by applying its circular product design principles.

The new Ikea will also provide its customers with the click and collect service for those who prefer a contactless shopping experience.

“As part of the Al-Futtaim Group, we live by the same ethos of enriching the lives and aspirations of our customers at every turn and we aim to do this for our customers across Oman,” said Vinod Jayan, managing director of Ikea UAE, Egypt, Qatar and Oman.

“We are now closer to our Omani customers and are confident that the experience and home furnishing ideas we provide at Ikea will inspire our customers to refresh their homes.

Oman Avenues Mall is one of the largest shopping malls in the country, with more than 80,000 square metres and five storeys of retail, dining and entertainment options. It opened in May 2015.

In September, the Mall of Oman opened in the sultanate, with 300 shops and 50 dining options. There's also a 1,000-plus seat food court.

Scroll through the gallery below to see photos of the Mall of Oman - in pictures

  • Majid Al Futtaim's Mall of Oman opened to the public on Wednesday, September 1. All photos: Majid Al Futtaim
    Majid Al Futtaim's Mall of Oman opened to the public on Wednesday, September 1. All photos: Majid Al Futtaim
  • Mall of Oman is home to more than 300 retail outlets and 50 dining options, many of which will be opening in the coming months.
    Mall of Oman is home to more than 300 retail outlets and 50 dining options, many of which will be opening in the coming months.
  • Some brands found in Mall of Oman are: DKNY, Nespresso, G-Shock and Homes R Us.
    Some brands found in Mall of Oman are: DKNY, Nespresso, G-Shock and Homes R Us.
  • In September, the mall will feature Dino World, an interactive dinosaur exhibition for families.
    In September, the mall will feature Dino World, an interactive dinosaur exhibition for families.
  • Mall of Oman has unveiled a 1,000-plus seat food court.
    Mall of Oman has unveiled a 1,000-plus seat food court.
  • Next year, Mall of Oman plans on launching the largest indoor snow park in the country, spanning over 14,000 square metres.
    Next year, Mall of Oman plans on launching the largest indoor snow park in the country, spanning over 14,000 square metres.
yallacompare profile

Date of launch: 2014

Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer

Based: Media City, Dubai 

Sector: Financial services

Size: 120 employees

Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)

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Best Sporting Director of the Year: Txiki Begiristain (Manchester City)

Player Career Award: Ronaldinho

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When: Tonight, 5.30pm
Where: Mohamed bin Zayed Stadium, Abu Dhabi
Tickets: www.ticketmaster.ae

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Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

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Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Updated: April 20, 2022, 3:24 PM