(MENAFN- The Peninsula) Doha: Shoppers will have more options to choose from as more new malls are set to open in the country in coming months. Qatar's retail market will witness the entry of new companies as six new malls are expected to open in the country by the end of next year, according to a report released by real estate consultancy firm- ValuStrat.
“518,000 sqm GLA (6 malls) is in pipeline till 2022, distributed across Lusail, The Pearl, Musheireb, Umm Salal and Al Maamoura,” said the third quarter 'Qatar Real Estate Market' report.
During the third quarter, the leading retail chain Lulu Hypermarket opened its 15th store in the country at Abu Sidra. The new store, which offers a vast retail area of 24,000sqm, has again strengthened Lulu's presence in the region. Marza hypermarket opened 4th store in J Mall in Hazm Al Markhiya. Doha Festival City announced 35 new stores across fashion, leisure, entertainment, jewellery, café and pharmacy areas.
“The organised retail stock comprised 1.96 million sq m Gross Leasable Area with the addition of Abu Sidra Mall (30,878 sqm GLA). Lulu hypermarket to open in Giardino Mall covering 13,000 sq m and Lulu supermarket in Gewan Island across 700 sq m by 2022,” said the report.
According to UDC, 40 new retail and F&B brands have opened in The Pearl in 2021.
The report added, Eid holidays, shopping festivals, re-opening of schools and further removal of social mobility restrictions have led to a boost to footfall across all malls compared to the second quarter of 2021. There has been increase in take up of retail outlets across Lusail, Fereej Bin Mahmoud, Ain Khaled, Al Aziziya and Najma compared to last quarter.
There was marginal addition of 700 units during the third quarter of 2021, with total housing stock of 307,215 units. Around 600 apartments were delivered from completion of Abraj Bay tower 2 in The Pearl and three residential Towers in Lusail.
About the hospitality sector, the report said that there was no addition of hotels during the third quarter of 2021 and total hospitality supply remained at 29,688 keys.
Katara Hospitality, owning 42 hotels and 25,000 rooms, announced plans to expand to 60 hotels by 2030.
Approximately 13,600 keys are in pipeline to be delivered in the next 15 months.
Average occupancy of hotel and hotel apartments (excluding keys being used for quarantine) as of August year-to-date 2021 was at 61 percent and 63 percent respectively, up by an average of 7 percent compared to same period in 2020.
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