Qatari developer Bawabat Al Shamal Real Estate Company (BASREC) along with the engineering consultancy and design company Arcadis inaugurate the mixed-use development of Doha Festival City (DFC) on April 5, Invest-Gate reports.
“The official opening of Doha Festival City is a proud moment for all of the parties that have supported the scheme over the last six years. Throughout this period, the Arcadis team has consistently provided excellent cost and commercial management advice,” says Kareem Shamma, CEO of BASREC, a joint venture comprising Al Futtaim Real Estate Services, Qatar Islamic Bank, Aqar Real Estate Development and Investment.
“This has enabled us to deliver a world-class development that is already exceeding the expectations of our visitors, tenants and investors,” he adds.
Spreading on an area of 433,847 square meters, DFC offers 240,000 square meters of gross leasable area, featuring over 550 shops and stores that include more than 100 fine dining restaurants, cafés and food court outlets.
After six years of construction, the development incorporates Qatar’s first IKEA store, full-sized Monoprix hypermarket, Ace hardware store, as well as a range of entertainment options including a snow park, Angry Birds and Virtuocity theme parks, in addition to an 18-screen VOX 4D cinema complex. It will be an attractive destination for residents and tourists, and an integral part of the local community.