Mazaya Real Estate Development announced the completion of the study on changing the scheme of the Marina Mall project discussing with Qatar Foundation for Education, Science and Community Development (the owner of the land), and it was approved to change the activity to commercial and residential project in two phases. The scheme contains commercial spaces facing the marina of up to 33,000 square meters that provide various and varied activities such as (restaurants, cafes, retail stores …). They will be ready to operate by the summer of 2022 before the start of the World Cup. The second stage begins immediately after the completion of the tournament and contains more than 200 apartments of a variety of (one and two rooms), all of which will be offered for rent.
Mazaya is currently working on obtaining the necessary approvals for the project from Lusail and concerned authorities.
In a question to Engineer Ibrahim Jaham Al-Kuwari, Managing Director of Mazaya, about the reason for changing the idea of the Marina Mall project, he said:
In the previous period when the idea of the Marina Mall project was proposed, the local market was in need of a new commercial complex that would cover the requirements of the market in light of the increase in the population, but in the following period we noticed a significant increase in the number of commercial complexes that were established at distances that are somewhat close to Lusail City, in addition to the huge commercial complex that is under construction in Lusail City. The Board of Directors of Mazaya Real Estate Development decided to change the idea of the project to ensure the continuity of success and return to the company and shareholders.
And in another question about the reason for choosing the idea of commercial and the residential spaces. He said:
The distinctive location of the project facing the Marina on the one hand and located along the Lusail walk way on the other hand is a great attraction for tenants, and it is also possible to take advantage of the front facing the Marina for commercial spaces, which will be an important attraction for shops.
