Qatar’s economy and real estate boom set to transform Qatar’s retail market
Driven by the strong growth of Qatar’s economy and population figures, the retail market is set to take center stage at the 2014 edition of Cityscape Qatar. Looking to capitalise on opportunities in this sector, investors and developers from Qatar and abroad have registered in record number for the Cityscape Qatar Retail Forum.
The Retail Forum, a dedicated conference, is being held for the first time at Cityscape Qatar on 4 June 2014 and will explore the entire Qatari retail scene, focusing on opportunities for mall developers, mall operators and retailers alike.
Mr. Deep Marwaha, Group Director for Cityscape Qatar, remarked, “The rapid pace of economic growth over recent years has left demand outstripping supply in the retail market, creating a wide range of opportunities for investors and developers. The projections for retail in Qatar are hugely exciting. Retail trade has recorded average growth of 14% per annum over the last five years on the back of a rising population and economic expansion, to reach QR39.4bn in 2012. According to AREDC research the current mall space will double to reach to almost one million square metres of net leasable area within the next two to three years. There are currently a further nine malls under construction and scheduled for completion before the end of 2016.”
Mr Ibrahim Al Malki, Chief Enterprise officer at q.media, explained, “Taking place for the third year running, Cityscape Qatar has very quickly cemented its position as the ‘must attend’ event for professionals working in the real estate sector. Qatar has invested over $220bn on projects, which are in the pipeline across various stages of construction, in preparation not just for the World Cup but also the growing number of visitors to our country. Retail and shopping are a major part of any country’s tourism appeal.”
Co-located with Cityscape Qatar and the Retail Forum is the Qatar Real Estate Summit, which will bring together senior real estate professionals who will explore opportunities and find solutions to key challenges affecting the industry today. The Qatar Real Estate Summit will discuss topics such as the planning of the nine malls that are slated to create an increase in excess of 1 million square metres of additional retail space by end of 2016, and examine efficient investment strategies for investors and developers based in Qatar and those looking for a profitable entry point.
Cityscape Qatar will also play host to the Cityscape Awards for Real Estate in Qatar on 3 June 2014. The awards programme has attracted a huge number of entries from developers and architects behind real estate developments across Qatar and are seen as one of the industry’s most sought after accolades.
Co-organized by Informa Exhibitions and q.media Events, Cityscape Qatar 2014 is supported by its Foundations Sponsors Ezdan Holding Group and United Development Company (UDC), with Qatari Diar Construction Products Company and Mall of Qatar as Silver Sponsor.
Cityscape Qatar’s Real Estate Summit and Retail Forum will host local real estate leaders, Eng. Abdulla Al Mehshadi, CEO of Msheireb Properties, Eamon Kelly, General Manager of Lagoona Mall, Hamad Bin Ali Al Hedfa, CEO of Mazaya Qatar and Ibrahim Jaidah, CEO and Chief Architect of Arab Engineering Bureau and many more.
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