UrbaCon Director Moataz Al Khayyat: Mall of Qatar cost 5.4 Billion QAR

One of the largest shopping malls in the world to open in 2016!

Oct 05, 2015, 22:16 ET from UrbaCon Trading & Contracting

WASHINGTON, Oct. 5, 2015 /PRNewswire/ -- Qatar-based UrbaCon Trading & Contracting has announced that Qatar's largest leisure, entertainment and shopping complex, Mall of Qatar is set to open in 2016 with total development cost of 5.4 Billion QAR. 

"Estimated to open in the second or third quarter of 2016, the total development cost of the project is 5.4 Billion QAR including land, mall, hotel, all related services," said Moataz Al-Khayyat, CEO of UrbaCon. 

Once completed The Mall of Qatar will become one of the largest shopping malls in the world. Mall of Qatar has recently signed a leasing agreement with M.H. Alshaya Co., one of the world's leading retail franchise operators to open more than 30 stores and restaurant outlets in the Mall.   

The agreement with Alshaya was confirmed at a signing ceremony between Mr. Shem Krey, Managing Director and Mr. Rony Mourani, General Manager of the Mall of Qatar, and Mr. Wassim Arabi, Chief Executive Officer of M. H. Alshaya Co.

Winner of the Middle East Retailer of the Year Award in June 2015, Alshaya's ever popular brands will occupy around 18,000 sq. meters of the Mall. Collectively these brands will offer shoppers an exciting collection of well-loved international fashion & footwear, food, health & beauty, pharmacy, optics and home furnishings brands including: Mothercare, H&M, Debenhams, Victoria's Secret, Starbucks and The Cheesecake Factory.  

"Qatar is an important and growing market for us and we are very pleased to partner with Mall of Qatar to expand the range of retail, café and dining choices that we can offer to customers," said John Hadden, Senior Vice President, Retail Property for Alshaya.  "With more than 70 leading international brands in Alshaya's portfolio we look forward to bringing traditional favorites, exciting new brands and outstanding new-look stores to this significant new addition to Qatar's retail scene."

Under the deal, the 32 household name brands that will join Mall of Qatar's growing list of shops, cafes and restaurants include: Debenhams, Pinkberry, Bath & Body Works, Milano, Icing, American Eagle Outfitters, Vision Express, Jo Malone, River Island, Asha's, Starbucks, PF Chang's, The Cheesecake Factory, Texas Roadhouse, Payless Shoe Source, Boots, Claire's, M.A.C, Foot Locker, Shake Shack, H&M, Miss Selfridge, Topshop, Phase Eight, The Body Shop, Victoria's Secret, Pink, Babel, Pottery Barn, Raising Cane's, Next and Mothercare.

Shem Krey, Managing Director of Mall of Qatar, commented, "The endless list of top lifestyle brands and popular eateries that Alshaya will open in the Mall will help to make it one of the biggest draws in the region as a lifestyle destination that has it all - where shoppers can soak up the very best in retail, leisure and entertainment all under one roof." 

UrbaCon Trading & Contracting has been involved in several huge projects over the last few years and has become one of the most respected building contractors in Qatar. In addition to the Mall of Qatar, included among its projects are the Banana Island Resort, the Sheraton Doha Hotel and Convention Center, and the Lekhwiya Stadium at Al Duhail.

SOURCE UrbaCon Trading & Contracting