Doha Festival City Appoints Leasing Consultants

mSquared to leverage extensive expertise in leasing & retail management

Doha, Qatar, May 22 2012: Doha Festival City has appointed mSquared Shopping Centres as main retail leasing consultants for the QAR 6 billion development that will transform Qatar's capital city into the region's entertainment, retail, hospitality and commercial hub.

The consultants will provide retail and leasing management services to the mega complex, while adding substantial value through design optimisation, front end cost savings, revenue optimisation, operational efficiencies and project impetus.

Covering a total land area of 433,847sqm, Doha Festival City will have over 260,000sqm of Gross Leasable Area accommodating entertainment and leisure facilities, supermarkets and retail units, cinemas, hotels and conference facilities.

Doha Festival City is owned and developed by Bawabat Al-Shamal Real Estate Company WLL (BASREC) a JV company comprising four primary shareholders including Al-Futtaim Real Estate Services, Qatar Islamic Bank, Aqar Real Estate Investment Company and a private company. Al-Futtaim Group Real Estate will be responsible for the management of the leases and leasing for any Al-Futtaim Group companies, and the Entertainment Zone.

Kareem Shamma, CEO, BASREC said: "mSquared comes to Doha Festival City with strong credentials. The leasing consultancy is led by extremely capable management that has depth of knowledge and understanding of retail function and design, coupled with its vast network of established relationships in both the regional and international retail community. With this appointment mSquared will catalyse our leasing efforts in positioning the retail centre as Qatar's premier shopping and entertainment destination, and complements the great progress we have already made, both in design and on site."

mSquared Shopping Centres is co-founded by Rashid Doleh and Shahram Shamsaee, key figures who played integral roles in successful shopping centres in the Middle East.

Doleh said: "We are extremely excited to accept this appointment and are resolutely confident that Doha Festival City will provide an unparalleled shopping experience; on par with the best projects that we have seen in the region and beyond. Designed with the consumer in mind, Doha Festival City will become the retail epicentre of Qatar."

Rashid Doleh has developed, leased and asset managed some of the most prestigious malls in the Middle East. His 11 years of experience in the industry include 6-years with Majid Al Futtaim Properties and over two years as CEO for Emaar Malls Group. Doleh is a graduate of the Sheikh Mohammed Bin Rashid Leadership Programme and currently serves as President of the Middle East Council of Shopping Centres.

Shamsaee draws on over 20 years of Real Estate experience in the Middle East and the US. Prior to the establishment of mSquared Shopping Centres, he spent 11 years with MAF Properties as Senior Vice President of Asset Management. Shamsaee is a graduate of the prestigious AMP programme at Harvard Business School and currently serves as Middle East's sole representative on the ICSC Board of Trustees.

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About Doha Festival City
Doha Festival City is a QAR 6 billion 433,847 sqm state-of-the-art super regional mixed-use development, owned and developed by Bawabat Al-Shamal Real Estate Company WLL. Al-Futtaim Real Estate Services, Qatar Islamic Bank, Aqar Real Estate and another Qatari investor form this joint venture. This landmark destination will offer entertainment, hospitality, automotive showrooms and more than 500 shopping and dining outlets all interconnected under one roof. The project has been designed with the visitor in mind, separating each individual area into its own uniquely identified space, transporting consumers from the world of indoor and outdoor entertainment, into a retail area populated with diverse international brands. With a total of 260,000+ sqm GLA and such a diverse offering, Doha Festival City will be one of the "must see" destinations in the region. Doha Festival City is located 15 minutes north of Doha on the Al Shamal highway, linking Doha International Airport with the proposed Bahrain Causeway. A dedicated road system will ensure ease of access and egress and will integrate this one-of-a-kind destination with the Al Shamal and Lusail highways. Valet parking and more than 8,500 car parking spaces will provide plenty of room for visitors, even during the busiest days. With its strategic positioning, the mega complex is ideally equipped to meet the retail and entertainment needs of not only Qatar, but also neighbouring GCC countries. Construction of Phase One, which includes the IKEA location, is scheduled for completion in Q1 2013, with the remaining phases due in Q3 2015.

About mSquared Shopping Centres
Rashid Doleh and Shahram Shamasaee are co-founders of mSquared Shopping Centres and between them have more than three decades of experience of being part of some of the biggest shopping centres in the Middle East. mSquared is a retail management services company which offers comprehensive development, leasing and asset management services for both existing and new retail development projects. mSquared provides turnkey and bespoke retail solutions in line with the developer's needs.

For more information, please contact:
Diala Ballout
Public Relations Manager
Al-Futtaim Group Real Estate
Tel:+971 4 425 4935
Mob:+971 50 280 0649
Mob:+971 56 682 9931
Email: diala.ballout@afgre.com
www.dubaifestivalcity.com
www.festivalcitycairo.com
www.festivalcitydoha.com

Sakala Debrass
Director PR and Publications
Grow PR
Doha, Qatar
Tel: +974 44 446222
Mob: +974 55 579756
Email: sakala@growatar.com
www.growqatar.com