10 new Middle East mallsBe the first to comment 26 April 2012
Doha Festival City is a QR6bn (US$1.65bn) mega project and is slated for completion in the fourth quarter of 2014. The development, which is a joint venture between Bawabat Al-Shamal Real Estate Company (BASREC), the Al-Futtaim Group, Qatar Islamic Bank and other investors, will fill the gap in Qatar’s retail market and boost the amount of gross leasable area (GLA) for retailers by 260,000 sqm. The mall is being designed with four distinct interior zones: Water Concourse, Garden Promenade, Rainforest Boardwalk and Fashion Galleria. IKEA, which part of the Al-Futtaim Group in the region, will be the first section of the mall to be constructed, with a scheduled opening date of Q4 this year. The 32,000 sq m store will later be accompanied by a mix of other international and local brands such as Toys R Us, Marks & Spencer and Intersport across 400 outlets, and shoppers will have access to some 8,500 car parking spaces and a vehicle management system. The project is located 15km north of downtown Doha on Al Shamal Road, one of the main arterial routes to the city centre, making it an ideal location for a big mall. Linked to the shopping area will be automotive showrooms, two hotels and an entertainment complex, which Al Futtaim says will be “very large”. No further details have been given at this stage.
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