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Development involves creators of Festival City locales
Al-Futtaim, the family-owned business behind the Festival City mixed-used developments in Dubai and Cairo, is moving ahead with plans for a similar complex in Qatar. Al-Futtaim is teaming with Qatar Islamic Bank and Aqar Real Estate Investment to construct a $1.6 billion state-of-the-art entertainment and retail complex in Doha that will include house two hotels.
Work on the 4.6 million-sq.-ft. development is slated to start early next year on a northern highway linking Doha International Airport with the proposed Bahrain Causeway. The partners say this project will tap the Middle East country's rapidly expanding population, strong diversified financial standing and high disposable income of its citizenry.
“We are excited to be part of this mega venture which will be a defining moment for Qatar's leisure, retail and entertainment industry,” Robert Willett, Al-Futtaim's group ceo. “Our involvement symbolizes Al-Futtaim's desire to remain innovative across all markets. Al-Futtaim brings not just its fine construction and real estate development skills to this wonderful project, but also its enduring vision to enhance customer experiences."
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