29 June 2009

Qatar’s plans to attract 1.4 million foreign tourists per year by 2011 set to boost domestic retail sector

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Nine establishments are fully operational with another four under construction, reveals ‘RETAILFocus’

Qatar’s plans to attract 1.4 million foreign tourists per year by 2011 are set to boost the domestic retail sector, according to a recent industry report. In line with this, information from the ‘Shopping Centre Database’ released by REIDIN.com, the world’s first and leading global online information services provider, has revealed that majority of the nine luxury shopping malls in the country are fully operational, with another four currently under construction. The ‘Shopping Centre Database’ is part of ‘RETAILFocus’ – a product that delivers an up-to-date database of malls, shopping centres, tenants, projects and retail real estate deals along with retail real estate news and research reports.

Extensive and interlinked databases of shopping centres from ‘RETAILFocus’, also revealed that Qatar-based retail complexes are made up of regional centres and malls (67 per cent), shopping centres (22 per cent) and multi-use centres (11 per cent). Dispersed mostly across Doha, some of the regional centres and malls include ‘Hyatt Plaza’, ‘City Centre’, ‘The Centre Shopping Mall’ and ‘The Mall Shopping Complex’. ‘Lagona’ and ‘Royal Plaza’ are two of the shopping centres; while ‘The Pearl Qatar’ remains the sole multi-use centre in the country.  

“The success of retail complexes in Qatar will depend on the stability of Qatar’s economy, which seems to be doing well despite the economic crisis. These developments continue to attract foreign and domestic tourists and encourage cash flow within the retail sector,” said Ahmet Kayhan, CEO, REIDIN.com. “Our aim is to provide investors, developers, buyers and real estate professionals with solid foundation upon which they can base their important business decisions, by offering accurate data on retail and commercial developments in Qatar.”

The fourth property and real estate related product by REIDIN.com, ‘RETAILFocus’ offers valuable market data such as retailer profiles, Gross Leasable Area (GLA), footfall statistics, price data, news, research, upcoming retail projects, owners, developers, and property manager profiles. Other products within REIDIN.com’s portfolio are ‘DUBAIFocus’, a portal that provides information on real estate deals and transactions in Dubai; ‘INDEXFocus’, a tool that enables users to establish house price differentials, conduct property valuations and perform multiple simultaneous market analyses; and REBIS, a one-stop shop real estate information portal that covers micro and macro environments.

“Our growing portfolio of products dedicated to the real estate sector underlines our commitment to the advancement of this industry by way of encouraging transparency across the market and making accurate and relevant information easily available to decision makers. We are continuously investing in developing new products and expanding the coverage of our current offerings, as we anticipate a new era in real estate amidst the positive developments resulting from the current correction phase,” concluded Kayhan.

About REIDIN.com
REIDIN.com is the world’s first online information company providing a range of intelligence products dedicated to meeting the unique requirements of real estate market professionals interested in emerging markets. REIDIN.com services are used by investors, fund managers, developers, consultants, researchers, valuation experts, construction and project managers, occupiers, as well as many others who are interested in monitoring and understanding the market trends and business challenges relevant to them in real estate markets.

REIDIN.com provides hard to find proprietary business news, analysis, research, data and intelligence with online tools and services that enable real estate professionals to enhance their understanding of emerging markets such as United Arab Emirates, China, India, Vietnam, Singapore, Malaysia, Russia, Saudi Arabia, Kuwait, Turkey, Poland, Bulgaria, Romania, Hungary, Brazil, Argentina and more.

Moreover, to cater to the specific demands of Dubai’s booming property market, REIDIN.com has teamed up with the Dubai Land Department to establish DUBAIFocus, the first exclusive online information product tracking real estate deals and transactions in Dubai. DUBAIFocus – which has data from the year 1973 – provides daily information on all types of land, villa and flat deals (sales, mortgage, lease, grant, inheritance, etc.) in Dubai.

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