Qatar Development Bank (QDB) announced Saturday that construction of the second batch of outlets for Al Furjan Markets 2 has begun. The new markets will be located in areas such as Ain Khalid, Luaib, Bani Hajer, Al Aziziya, Al Gharafa, Muaither, Al Shamal and Al Wakra.
The first batch of Al Furjan Markets was located in Umm Al Qarn and Al Khor among other areas. The bank said that this phase was 80% complete.
CEO of QDB Abdulaziz bin Nasser al-Khalifa said that the souq will provide all the main needs , adding that the initiative will be a good solution in terms of supplying the daily needs of goods and services for families. He added that the current sites are concentrated in the areas outside cities, to meet the needs of people living there. The 16 land plots are on schedule to be completed by the first half of 2020.
The project is considered a strategic one for Qatar, as it supports the trade sector in the country as part of the 2030 Qatar National Vision.
QDB had conducted a raffle draw to select the winners of the 45 retail stores from the 13,266 applications in the Phase I of Al Furjan markets project last month.
Al Furjan Markets project is a unique initiative launched in collaboration with a number of government sectors, in co-operation with QDB, which is handling all construction and administrate work.
The motivation behind this project is the estimated increase in population within the city of Doha and its surroundings. The retail mix has been devised to cater to the most important needs.
QDB will not raise rental rates for commercial outlets included in Phase 2 of its Al Furjan Markets project, al-Khalifa had earlier said.
He said existing rents at Al Furjan Markets across the country are pegged at QR6,000 per month.
But unlike the shops built under Phase 1 of the project, the new outlets are larger at 5x12sq m (compared to the existing 4x12sq m) and include an extra floor for employees’ accommodation.
“The commercial activities had been approved by the Ministry of Economy and Commerce and we are dealing with 31 commercial activities covering all of the day-to-day needs of residents such as pharmacy, grocery, and eateries, among many others,” Al Furjan Markets project director Abdul Rahman al-Suwaidi said.