Qatar Real Estate News
MAF Group makes its maiden venture into Qatar realty market
The Majid Al Futtaim (MAF) Group has entered into a partnership deal with Abu Dhabi Investment House (ADIH), a boutique investment firm, to developer the Downtown Precinct in Doha Lusail District.
The project is a debut by the property arm of the MAF Group in Qatar and is the second major development outside the UAE.
Paul Byrne of MAF Properties said that in our bid to deliver world class leisure, retail and entertainment amenities to the communities across the region, the Downtown Precinct will offer a new way of life to the residents with amenities that are best in the region.
The project would be a major boost to Qatar as a tourist destination, Paul added.
The Deputy CEO of ADIH, Fawaz Ali Al Jowder, agreed that their joint venture with the MAF Group is the first step in building a strategic relationship to deliver quality investment opportunities around the region.
Established in 1992, the MAF Group has been successful in introducing the concept of regional shopping malls and hypermarkets to the Gulf region. With more than 80million customers, the MAF Properties is constantly seeking fresh opportunities for expansion into countries across the region.
The project, which serves both Lusail area and its wider community, includes a 150,000 square meters retail leisure and entertainment mall, a five-star boutique department store, a five star hotel with 210 rooms, a four stare hotel with 250 rooms, two office buildings offering 28,000 square meters of space, about 1000 apartments offering 167,000 square meters of residential space, and about 7000 parking spaces.
Social Bookmarking
Read more news
> Al Khor project progressing as scheduled
> Barwa reveals its expansion strategy in Qatar
> MAF Group makes its maiden venture into Qatar realty market
> Venice of Qatar developed on Pearl-Qatar Island
> Qatar realty sector continue to remain promising
> Barwa announces latest updates of Barwa Housing Program
> Land owners should produce original tenancy agreement before renting
> Property prices, rents fall in Doha suburbs
> Bahrain, Kuwait joint-venture Company to develop new residential project in Qatar
> Registrar of Properties in Doha to begin operations next month