Place Vendôme Qatar partner AbdulAziz al-Rabban (second right) at the event with Xavier Romatet (president, Condé Nast France), Sidney Toledano (CEO, Christian Dior) and Michael Burke (CEO, Louis Vuitton).
Leading Qatari real estate development firm United Developers promoted their upcoming QR5.5bn mixed-use development, Place Vendôme currently underway in Lusail City, by partnering with Vogue Paris Magazine on their 95th anniversary celebration.
The event, held in a mansion located in the vicinity of L’Arc de Triomphe in Paris, welcomed some of the fashion industry’s key figures, from brands’ CEOs, designers to models, editors and famous artists. Place Vendôme Qatar partner AbdulAziz al-Rabban was present.
Place Vendôme Qatar draws inspiration from the famous Parisian high-end shopping street, Rue de la Paix, of which Place Vendôme is the starting point.
Slated to open in the third quarter of 2017, the 800,000sqm project will host two five-star luxury hotels, serviced apartments, a mall featuring up to 400 different retail outlets and a central entertainment amphitheatre.
Qatar is recognised among the fastest growing economies in the world boasting the world’s highest GDP per capita and has an increased appetite for luxury goods and lifestyle. With a value of $12.4bn in 2014, the retail industry in Qatar is considered as the most attractive market for retailers in the Middle East, ranking in fourth place worldwide.
Commenting on the increasing interest for Qatar and Place Vendôme on the global retail and luxury scene, project director Sean Kelly said during the past two years Place Vendôme has been very active in promoting Qatar’s retail opportunities in key markets.
“As the world’s fastest growing luxury market and the Middle East’s second shopping destinations, Qatar is rising to be among the leading global retail destinations for international brands. European brands, particularly luxury houses, continue to gain momentum among residents in Qatar and the Arab region,” he said.
“We are delighted with the positive feedback and the interest we are receiving from the leading retail brands and our industry peers in the global retail market. We envision Place Vendôme as a premier luxury, lifestyle, and leisure destination that will define a new generation of shopping. It presents the ideal opportunity for retailers to tap into and expand within the Qatar market in a unique setting,” the official added.
Place Vendôme’s architectural design and unique offerings were commended earlier this year when it was recognised as the “Best Future Project” by the Retail & Leisure International magazine.
Located in Lusail City, Qatar’s emerging master development and home to the host stadium of the opening and closing matches of the 2022 FIFA World Cup, Place Vendôme aims to attract regional and international residents and visitors seeking a combination of varied entertainment and retail choices in one place.
