BARWA Real Estate Group is set to build a QR500-million ($137.1 million) mall, Alaateda, featuring as many as 650 retails shops, close to the under-construction Msheireb Downtown Doha project, according to a report.
The 155,000-sq-m project will be completed within 30 months, said the Gulf Times report. The firm has also signed a deal with Promontorio, an international engineering consulting firm for the design of the project, it said.
Ahmad Abdulla Al Abdulla, acting group CEO, Barwa Real Estate Group, and Paulo Perloiro, partner and head of retail design, Promontorio, were the signatories.
“Alaateda comes with ambitions to address the shortage in commercial units in the country,” Ahmad Abdulla Al Abdulla, acting group CEO of Barwas, was quoted as saying.
“The project offers an alternative with good rental fees for merchants of medium businesses, and it enjoys a distinctive location on A-Ring Road – Rawdat Al Khail, three minutes away from Msheireb, in Doha downtown. This strategic location will guarantee the best returns for users of the project in the future,” he said.
Alaateda will consist of five connected buildings with scope for expansion.