A night view of Place Vendôme
Shoppers in Qatar are set to get a new shopping experience from next year with opening of Place Vendôme in Lusail City. The multibillion-riyal mixed-use mega project, which is set to open its doors from September 2021, will be able to host around 100,000 visitors a day.
The world-class infrastructure and smooth connectivity will make it very easy for shoppers from different part of the country to reach this high-end shopping destination that will feature a mall with retail outlets, five-star hotels, residences, an entertainment centre and other attractions.
“As one of the biggest mixed-use developments in Qatar, Place Vendôme will have the potential to host 100,000 visitors a day. With two basement and two multistory car parks, the mall will offer 7,000 parking spaces, accessed via seven separate street entrances,” Sean Kelly, Project Director told The Peninsula. “The fact that Lusail City is connected to Doha by road, rail and water will allow visitors to access Place Vendôme through many transportation hubs – including the Lusail expressway, the Doha Metro system, buses, water taxis and limousine services. Lusail’s extensive bike and pedestrian network also makes it an extremely accessible location for pedestrians, unlike any other area in Qatar,” he added.
Qatar’s growing retail sector has attracted many major retailers over the past few years. There is currently in the region of 1.3 million sqm of gross leasable area in Doha’s 18 largest destination malls, with overall supply in Qatar, now more than of 1.5 million sqm, according to Real Estate Market Review report by Cushman & Wakefield. Organised retail supply has increased by more than 100 percent since 2015, with Doha Festival City and Mall of Qatar providing almost half a million sqm of leasable accommodation.
A project of United Developers, Place Vendôme has over 1 million sqm of built-up area, including 230,000 sqm of leasable floorspace. Despite COVID-19 outbreak, the trust of investors and brands has remained intact on this project. Place Vendôme has already signed agreements with different global companies and high-end luxury brands.
“We have a number of international agreements with LVMH, Kering and Richemont, as well as the large regional retailers like Al Shaya, Chalhoub, Apparel and Azadea. Locally, we’re already partnering with United Retail Trading, Elan Media and Novo Cinemas,” Kelly said. “We’ve had a remarkably positive response and significant buy-in from the major retail groups, who have committed many of their world-famous, high-end luxury brands. We are proud to have agreements with these brands under our belt and look forward to building partnerships with other companies,” he added.
