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Tribune News Network
Doha
Mazaya Real Estate Development has announced the completion of the study on changing the scheme for the Marina Mall project after discussions with Qatar Foundation for Education, Science and Community Development, the owner of the land.
It has been approved to change the mall project to commercial and residential projects in two phases, Mazaya Real Estate Development said in a statement released on Wednesday.
The scheme contains commercial spaces facing the marina of up to 33,000 square meters that provide various and varied activities such as restaurants, cafes and retail stores.
The facilities in the first phase will be ready to operate by the summer of 2022, well before the start of the FIFA World Cup in the same year.
The second phase will begin immediately after the completion of the tournament and will contain more than 200 apartments of different varieties of one and two rooms to be offered for rent.
Mazaya is currently working on obtaining the necessary approvals for the project from Lusail and concerned authorities.
About the reason for changing the idea of the Marina Mall project, Mazaya Managing Director Engineer Ibrahim Jaham Al Kuwari said, “When the idea of the Marina Mall project was proposed, the local market was in need of a new commercial complex that would cover the requirements of the market in light of the increase in the population, but in the following period we noticed a significant increase in the number of commercial complexes that were established at distances that are somewhat close to Lusail City, in addition to the huge commercial complex that is under construction in Lusail City.”
The board of directors of Mazaya Real Estate Development decided to change the idea of the project to ensure the continuity of success and return to the company and shareholders, Kuwari said.
About the reason for choosing the idea of commercial and the residential spaces, he said, “The distinctive location of the project facing the Marina on the one hand and located along the Lusail walkway, on the other hand, is a great attraction for tenants, and it is also possible to take advantage of the front-facing the Marina for commercial spaces, which will be an important attraction for shops.”
Doha
Mazaya Real Estate Development has announced the completion of the study on changing the scheme for the Marina Mall project after discussions with Qatar Foundation for Education, Science and Community Development, the owner of the land.
It has been approved to change the mall project to commercial and residential projects in two phases, Mazaya Real Estate Development said in a statement released on Wednesday.
The scheme contains commercial spaces facing the marina of up to 33,000 square meters that provide various and varied activities such as restaurants, cafes and retail stores.
The facilities in the first phase will be ready to operate by the summer of 2022, well before the start of the FIFA World Cup in the same year.
The second phase will begin immediately after the completion of the tournament and will contain more than 200 apartments of different varieties of one and two rooms to be offered for rent.
Mazaya is currently working on obtaining the necessary approvals for the project from Lusail and concerned authorities.
About the reason for changing the idea of the Marina Mall project, Mazaya Managing Director Engineer Ibrahim Jaham Al Kuwari said, “When the idea of the Marina Mall project was proposed, the local market was in need of a new commercial complex that would cover the requirements of the market in light of the increase in the population, but in the following period we noticed a significant increase in the number of commercial complexes that were established at distances that are somewhat close to Lusail City, in addition to the huge commercial complex that is under construction in Lusail City.”
The board of directors of Mazaya Real Estate Development decided to change the idea of the project to ensure the continuity of success and return to the company and shareholders, Kuwari said.
About the reason for choosing the idea of commercial and the residential spaces, he said, “The distinctive location of the project facing the Marina on the one hand and located along the Lusail walkway, on the other hand, is a great attraction for tenants, and it is also possible to take advantage of the front-facing the Marina for commercial spaces, which will be an important attraction for shops.”
