(MENAFN- The Peninsula) The Peninsula
Doha, Qatar: The Commercial Avenue company has signed a leasing agreement with Kate Real Estate for Joud Mall for a duration of 10 years. The signing ceremony was attended by Ali Mohammed Al Ali, Chairman of the Board of The Commercial Avenue, Abdullah Abdul Razzaq Haider, CEO of The Commercial Avenue, Abdul Rahman Ahmed Al Najjar, CEO of“Kate” Real Estate, and his deputy, Mohammed Ahmed Al Najjar.
Joud Mall enjoys a strategic location on The Commercial Avenue which is considered the longest commercial Avenue in the world built in one phase. The complex features a vast area of approximately 140,000 square meters, providing ample space for shopping and a unique experience for visitors, with a leasing area of around 60,000 square meters, allowing for a diverse range of commercial outlets and facilities. Under this agreement,“Kate” Real Estate will manage the commercial complex for the next 10 years, starting from the first of November.
In this context, Abdullah Abdul Razzaq Haider, CEO of The Commercial Avenue announced that the agreement marks a new step in deepening The Commercial Avenue's footprint in the real estate market, emphasizing the impact of their future approach on enriching the Qatari market in the coming years.
He added,“Our partnership with Kate Real Estate is part of a series of collaborations with giant real estate and investment companies that will reshape the architectural landscape in the Qatari market. Our collaboration with Kate Real Estate will positively impact the local economy. 'Joud Mall' is a vital center for trade and entertainment, attracting visitors and shoppers from all over, contributing to the prosperity of the region.” Abdul Rahman Ahmed Al Najjar, CEO of Kate Real Estate, expressed his satisfaction with the collaboration with The Commercial Avenue, stating,“Our partnership with The Commercial Avenue will help us achieve sustainable development in the real estate sector in our beloved country, Qatar. We always strive to participate in major national projects that contribute to the prosperity of the Qatari economy and provide an attractive and stimulating investment environment for local and international capital. We believe that this partnership with“The Commercial Avenue” will enable us to offer an exceptional and unique shopping experience in 'Joud Mall', in line with the aspirations and expectations of investors and consumers alike.”
This announcement is part of The Commercial Avenue 's participation in the eleventh edition of the Cityscape Qatar 2023 exhibition, held between October 24 and 26, under the patronage of H E Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al Thani, Minister of Commerce and Industry, at DECC.
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