(MENAFN- The Peninsula) The Mall of Qatar, one of the biggest commercial projects in the country, is scheduled to open in the fourth quarter of this year, a senior official of Drake & Scull Engineering, one of the major developers of the facility said yesterday.
With over five million square feet built up area, the upcoming mall will be home to some 80 food and beverage outlets, ranging from signature restaurants to open kitchen venues and fast food fare. Once open, the commercial complex is expected to welcome an estimated 20 million customers annually.
"We are extremely delighted with the pace of progress on the Mall of Qatar, which is well on its way to meeting its Q4 2015 launch date," said Ahmad Al Naser, Managing Director of Drake & Scull Engineering, which is implementing massive engineering works in the project.
Al Naser, in statement, added: "Our project planning and execution in coordination with the main contractors and the clients has allowed us to deliver Mechanical, Electrical and Plumbing (MEP) Works for over four million square feet of built up area that will house over 500 shops as well as the world's largest IMAX screen."
The project is strategically located next to the upcoming FIFA World cup stadium, as well as a dedicated Doha Metro station.
The construction works on the project has been underway since 2012 and is proceeding on schedule, according to Drake & Scull Qatar (DSI Qatar), a wholly owned subsidiary of Drake & Scull International PJSC (DSI).
DSI Qatar has reiterated its full commitment towards achieving its set targets in line with Qatar National Vision 2030, having proven its capabilities by delivering prominent projects across diverse sectors including hospitality, infrastructure, industrial, and real estate. Qatar ranks second as the most promising emerging market for investment in 2015 in the fourth annual ranking by Bloomberg Marketi, in factors such as investment environment, economic growth forecast, and ease of doing business.
According to Qatar's Ministry of Development, Planning and Statistics, the economy is expected to expand 7.7 percent in 2015 with little impact from falling oil prices on the country's finances.
Khaldoun Tabari, CEO and Vice chairman for DSI, said: "Qatar has continued its upward trajectory by successfully diversifying its economy in order to sustain its growth even during sharp drops in oil prices. Rapid expansion in the real estate sector has created an enormous demand for high-quality engineering services.
Currently, Qatar is in a position to implement major engineering projects such as district cooling plants which have already proven their benefits for large-scale real estate developments. DSI, with its tremendous local and regional experience, has a unique advantage in handling complex projects. We have expertise and experience to transform Qatar's skyline by shaping its urban landscape over the next few years."
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