A QR1.65bn contract for the main works of the proposed Doha Festival City (DFC) Mall has been awarded by its owner Bawabat Al Shamal Real Estate Company (Basrec) to Gulf Contracting Company in joint venture with Alec Qatar (GCC/Alec JV).
The DFC development, claimed to be Qatar's largest retail and leisure destination upon completion, is taking shape on Al Shamal Road, Doha's main north-south artery that joins Hamad International Airport with the north of Qatar.
DFC Mall's current phase of development broke ground on April 23, 2013 with a bulk excavation contract, following the successful completion of the first IKEA store in Qatar, which opened its doors to the public in March last year.
The award of the DFC Mall contract has been described as "a significant milestone towards the successful completion of the development", which is scheduled to
open in the third quarter of 2016.
Upon completion, DFC Mall will be Qatar's largest shopping mall with a gross leasable area of some 250,000sqm. It will house 550 outlets representing international and local brands, including 85 restaurants and cafes, the country's first-of-its-kind Entertainment Zone that will include VOX Cinemas and a snow park. It will have around 8,000 parking spaces.
"We have already signed tenancy deals with the region's retail powerhouses, including Azadea, Alshaya, Landmark, Apparel, Rivoli, Dubai Holding Group and Al-Futtaim Retail. Our main objective is to provide all of Qatar's residents and visitors with a memorable experience every time they visit us," said Kareem M Shamma, CEO of Basrec, the joint venture that comprises Dubai-based Al-Futtaim Real Estate Services, Qatar Islamic Bank, Aqar Real Estate Development & Investment Company and a private Qatari investor.
The mall's substructure works contract for the construction of basement and ground-floor levels was previously awarded to GCC/Alec JV in January 2014 and works have been progressing with start of the main works contract due in July 2014.
DFC, described as the largest super-regional, mixed-use development currently under construction in the Middle East, will be home to a hotel and convention centre, all located on a total site area of over 430,000sqm.
© Gulf Times 2014
