Doha - Bawabat Al Shamal Real Estate Company W.L.L (BASREC), owner of Doha Festival City developmentwhich will be Qatar's largest retail and leisure destination upon completion, has awarded Gulf ContractingCompany in joint venture with ALECQatar (GCC/ALEC JV)a QR1.65 billion contract for the Main Workscontract on its mall, currently taking shape on Al-Shamal Road, Doha main north-south artery that joins Hamad international airport with the north of Qatar.
The award of the contract follows a lengthy bidding and evaluation process and is a significant milestone towards the successful completion of the development which is scheduled to open in 3rd quarter 2016.
Upon completion, Doha Festival City Mall will be Qatar's largest shopping mall with a gross leasable area of some 250,000 m2. It will house 550 outlets representinginternational and local brands,including 85 restaurants and cafes,the country's first-of-its-kind Entertainment Zone which will include VOX Cinemas and a snow park, andwill feature around 8,000 parking spaces.
"We have already signed tenancy deals with the region'sretail 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 witha memorable experience every time they visit us,"said Kareem M. Shamma, CEO, BASREC, the joint venture which comprises Dubai-based Al-FuttaimReal Estate Services, Qatar Islamic Bank (QIB), Aqar Real Estate Development &Investment Company and a private Qatari investor. The mall'sSubstructure Works contract for the construction of basement and ground floor levels was previously awardedto the same contractor (GCC/ALEC JV)in January 2014 and works have been progressing steadily with start of the Main Works contract due to commence in July 2014.
Speaking on behalf of the GCC / ALEC JV, Darrell Bergesen (ALEC Qatar GM) supported by Grahame McCaig (GCC GM), said, "We are delighted to have put forward a winning proposition for this scheme, which we have followed for a considerable period of time. This award is the culmination of a huge effort by the respective partners' estimating, commercial, and technical teams. We believe this success demonstrates the proficiency of the JV to secure Contracts, with high-profile developers, through innovative solutions. We are very pleased to be an integral part of one of Qatar's most prestigious developments and look forward to delivering a top quality mall for both BASREC and the region."
Doha Festival City Mall's current phase of the developmentbroke ground on April 23rd, 2013with a bulk excavation contract,following the successful completion of the first IKEA store in Qatar, that opened its doors to the public in March last year.
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About Doha Festival City
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.
Doha Festival City will also be home to a hotel and convention centre, all located on a total site area of over 430,000 m2 that will alsoinclude around 8,000 parking spaces with an efficient vehicle management system.
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 isstrategically positioned in the north of Doha on the main arterial Al-ShamalRoad, that runsbetween HamadInternational Airport and the north of Qatar.
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 Development &Investment Company and a private Qatari investor.
About Doha Festival City Mall
Doha Festival City Mall is one of the Middle East's largest leisure and entertainment destinations. Offering gross leasable area of some 250,000 m2, Doha Festival City Mall will feature over 550 shops and stores through a carefully balanced selection of international and local brands including more than 85 restaurants and cafes, and a number of bank branches.
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 Mall 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).
© Press Release 2014
