The Pearl-Qatar, the country’s multi-billion dollar offshore residential island project, has signed a formal agreement with Kuwait-based Alshaya Retail Group to develop retail operations at the development.
According to the terms of the agreement, the Alshaya Group will invest in 6,000 square metres of retail space at the Porto Arabia fashion district. The Alshaya Group is the leading Middle East franchisee for premium stores and brands such as Debenhams, Mothercare, Top Shop and Starbucks.
With more than 35,000 residents expected to occupy the surrounding area, the proximity to the marina and the corniche style of the development, means that retail stores and food outlets will occupy the core of a high traffic area.
The agreement was signed by Mr Omar Al Fardan, board member at United Development Company (UDC), owner and developer of The Pearl-Qatar and Mr Mohammad Alshaya, CEO of the Alshaya Retail Group.
“We’re absolutely delighted that Alshaya has chosen The Pearl-Qatar as the venue for its new retail developments. Its portfolio of world class brands complements our stunning waterfront development perfectly,” said Hussam Ahmed, General Manager Retail at the Pearl-Qatar.
Consultants already in place are architects Callison, Keo International and project managers Dar Al Handasa.
Speaking on behalf of the Alshaya Group John Hadden Director of Retail Property said: “We chose The Pearl-Qatar because our portfolio of lifestyle brands fits perfectly with the developments planned for the island. It’s a very exciting project.”
Unique to all retail and food and beverage sectors is the fact that The Pearl-Qatar will appoint its own international consultants to review the range of the brands on offer to ensure the quality of the project.
© 2005 Al Bawaba (www.albawaba.com)
