Qatar’s retail sector gets bullish

23/09/2015 11:16 AST

Retail sector in Qatar is bullish now as five malls and hypermarkets have opened here in the last 10 months.

Entry of new players reflects that there is no sign of slowdown in consumer spending in Qatar. New shopping destinations also means consumers in Qatar will be spoiled for choices.

Gulf Mall in Gharrafa, Lulu Hypermarket in Barwa City, ‘Ansar Gallery’ in Barwa Commercial Avenue, Quality Mall in Hilal and Smile Hypermarket at Dragon Mart Complex are the new addition to retail sector.

Experts believe that opening of new shopping destinations is due to growing demand. “In the last two years, Qatar’s retail market did not see entry of major malls. Opening of new malls shows that retailers are now catching up with rising demand which is growing due to increasing population,” Johnny Archer, Associate Director Consulting and Research, DTZ Qatar told the Peninsula. “The strong spending power within Qatar, growing population and rising levels of tourism related visitors has seen significant increase in demand for retail accommodation from both local and international retailers,” he added.

Experts said that Qatar’s retail sector is currently not overcrowded and there is room for more players. Rising population will keep the demand for retailers high in the near term.

A number of malls and hypermarkets are likely to open in the coming months. Ezdan Holding Group is set to open a mall in Al Wakra and a Al Wukair Shopping Centre in Al Wukair in coming months. Quality Group is likely to open a new retail outlet in Rayyan in the last quarter of the year and another in Al Khor by the second quarter of next year.

Demand for the retail sector in Qatar is driven by high levels of disposable income.

Opening of new malls and hypermarkets has worked in favour of consumers. New players have begun operations by announcing offers and discounts for customers.

“We have seen encouraging response from customers because of discounts offered. Offers and discounts are very effective tool for attracting customers. We expect to see increase in number of customers in the coming days,” said branch manager of a hypermarket. Newly opened malls and hypermarkets offer a wide variety of products for household items, including, grocery, garments, footwear, cosmetics, furniture, ceramic, sanitary ware, tiles, lighting and doors, electronics, building and materials.

The Peninsula