Qatar's mega shopping mall to cost $1.48bn

07/10/2015 07:31 AST

Mall of Qatar, the country's largest leisure, entertainment and shopping complex, will cost QR5.4 billion ($1.48 billion) and will open by Q3 of 2016, said the project's manager/operator.

Poised to become one of the largest shopping destinations in the world, Mall of Qatar spans 550,000 sq m, and aims to attract a footfall of 20 million customers annually.

"Estimated to open in the second or third quarter of 2016, the total development cost of the project is QR5.4 billion ($1.48 million) including land, mall, hotel, all related services," said Moataz Al-Khayyat, the CEO of UrbaCon Trading & Contracting.

"Mall of Qatar has recently signed a leasing agreement with M.H. Alshaya Company, one of the world's leading retail franchise operators to open more than 30 stores and restaurant outlets in the mall," he added.

UrbaCon, he stated, 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, the company has several other projects including the Banana Island Resort, the Sheraton Doha Hotel and Convention Centre, and the Lekhwiya Stadium at Al Duhail, he added.


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