•Qatar's largest mall commences building works

•Project completion expected in Q3 2016

Doha, 20 January, 2014 - Having successfully opened Qatar's first IKEA store in March 2013, as Phase 1, Doha Festival City, Qatar's largest retail and entertainment destination, has appointed the Gulf Contracting Company/Alec Qatar Joint Venture as the Contractor to commence foundations construction for the mall of the QAR 6 billion Doha Festival City project scheduled for Q3 2016 opening.

The mall will be home to over 550 brands of which many will be making their debut in Qatar. "We are delighted to be laying the foundations for the Phase 2 building works on this magnificent development that will bring new standards of  shopping and leisure to all of Qatar's residents and visitors. Some of the most sought after names in retail have committed to the project and we are glad to be on track for a timely delivery of this retail, leisure, hospitality and entertainment destination which reflects Qatar's exciting and vibrant future," said Kareem M. Shamma, Chief Executive Officer, BASREC, the joint venture which comprises Dubai-Based Al-Futtaim Real Estate Services, Qatar Islamic Bank (QIB), Aqar Real Estate Investment Company and a private Qatari investor. 

"It is an honour to be awarded as the contractor to lead the construction of a shopping mall that is set to be one of the largest and most prominent in the Middle East.  We are currently focused on achieving BASREC's requirements to ensure a quick and effective mobilization for the foundation works up to and including ground floor slabs, which will pave the way for the main contract works, to ensure timely delivery of the shopping mall," said Darrell Bergesen, Board Member of GCC / ALEC Qatar JV

The contract was awarded following the completion and approval of the project's master plan and Traffic Impact Study. The entry and exit roads into and out of Doha Festival City have been designed to provide maximum ease of access from and to all major areas of Doha.  

Leading regional retail groups Azadea, Landmark, Alshaya, Apparel, Al Futtaim Retail and others have committed to bringing their fashion and Food & Beverage outlets to Doha Festival City. "Some of the world's most prestigious retail and dining outlets will be showcased in the mall, supported by their parent retail groups that are considered some of the region's largest and most successful," concluded Shamma.

-Ends-

Doha Festival City is the largest super-regional, mixed-use development currently under construction in the Middle East and upon its completion it will be Qatar's largest retail, entertainment and leisure destination.

Offering Gross Leasable Area (GLA) of some 250,000 m2, Doha Festival City will feature over 550 shops and stores through a carefully balanced selection of international and local brands including more than 85 restaurants and cafes.

It will also be home to automotive showrooms, and a hotel and convention centre, all located on a total site area of over 430,000 m2 that will also include some 8,500 parking spaces with an efficient vehicle management system.

Its state-of-the-art indoor-outdoor entertainment park will boast a number of exciting attractions for children and adults alike making Doha Festival City an ideal day-out destination for the whole family.

Distinctly themed interior zones will take visitors through an inspired journey that will excite the senses and provide an unforgettable shopping and entertainment experience in an environment operating under Qatar Sustainability Assessment System (QSAS).

The current phase of the development broke ground on April 23rd, 2013 on the 433,847 m2 site that is home to the first IKEA store in Qatar and is strategically located just north of downtown Doha on the main arterial route of Al Shamal Road, between Doha International Airport and the Friendship Causeway, the proposed road link to neighbouring Bahrain.

Doha Festival City is owned and developed by Bawabat Al-Shamal Real Estate Company W.L.L. (BASREC), the parent company and land owner of this iconic development. BASREC comprises four shareholders including Dubai-based Al-Futtaim Real Estate Services, Qatar Islamic Bank (QIB), Aqar Real Estate Investment Company and a private Qatari investor.

© Press Release 2014