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QR20bn worth shopping mall projects in pipeline for Qatar

Qatar will shortly have many more shopping malls and commercial complexes, as nine such facilities, worth QR20bn are being planned over the next three years.

Majority of new amenities will be built in Kharatiyat, Gharafa, Al Khor and Wakra, while some will be based in the new township to be developed on the location of existing Doha International Airport.

The UAE-based Al Futaim Group has already announced plans to open its first shopping mall in Doha Festival City, Qatar, which is likely to cost QR6bn. The facility will be ready in next two to three years time.

Ezdan will build three malls in Wakra, Gharafa and Wukair, under its new arm Ezdan Mall Company, to be launched soon. The North Gate Mall, a luxury shopping facility in Khartiyat is likely to be completed next year, while work on Marina Mall would begin this year. The Doha Mall in Mesaimeer worth QR2.5bn and Tawar Mall are the other projects in pipeline.

There is still space for big shopping malls in a booming market with growing population like Qatar. Qatar still does not have big shopping malls, and only one such facility was opened in Al Khor over the past three years. With opening of more commercial facilities, the market will get more vibrant, said a senior official of leading hypermarket chain.

The success of new facility depends on several factors including location and the way it is managed, and the nature of business. Increasing the number of facilities may not necessarily bring down prices, as Qatar is already a competitive market. The commodity prices are largely influenced by international market prices, and local factors have only limited impact on prices, the official explained.

Posted on 15/1/2013

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