Construction began on the second phase of Doha Festival City, set for an opening in the first quarter of 2016 with Qatar's "largest mall", a major entertainment component, hotel and conference center and motor showrooms.
The mixed-use development north of downtown Doha, beside Al Shamal Road in Al Daayen Municipality, saw the opening of its first phase last month, when Ikea, the Swedish furniture retailer, launched its Qatar store.
"We are setting a realistic time-frame target that is in line with a delivery schedule designed to meet the expectations of tenants who have already committed their presence at Doha Festival City," said Kareem M Shamma, chief executive officer, Bawabat Al-Shamal Real Estate Company (Basrec), the joint venture representing the development's Qatari and Emirati shareholders.
The 433,847sq m Doha Festival City is owned and developed by Basrec, the parent company which is supplying the land. Basrec comprises four shareholders, including Dubai-based Al-Futtaim Real Estate Services, Qatar Islamic Bank, Aqar Real Estate Development & Investment
and a private Qatari investor.
"Qatar is ready for something special that will revolutionize the country's retail landscape and Doha Festival City's exceptional and expansive portfolio of shopping, leisure, dining and entertainment options will deliver an unrivalled experience to residents and visitors alike," said Greg Douglas, development director, Doha Festival City.
Shamma, Douglas, Basrec board member Ahmed Saleh al-Kholaqi and senior executive manager Jihad Zarkout were present at the groundbreaking ceremony.