The retail sector in Qatar achieved strong growth in Q4 last year
The retail sector in Qatar achieved strong growth in Q4 last year
Doha: Q4 of last year was a good year for the retail sector in Qatar, with major malls reporting an increase in retail spending.
Last year, Qatar’s indoor retail space supply surpassed 1.5 million square metres of gross leasable area. Abu Sidra Mall and The Galleria, two of the most recently opened retail attractions, have yet to reach full capacity. There has been an increase of more than 100% in the existing availability of organised retail space in Qatar during the last six years.
“There was strong growth in retail performance in many of Qatar’s major malls in Q4. It has been reported to Cushman and Wakefield that retail spending in these developments in December (prior to the outbreak of Omicron) was up by between 10 per cent and 20 per cent in the same month in 2019,” according to Cushman & Wakefield’s Q4 Real Estate Market Review.
“Retail malls have also indicated there has been a recovery in supply chains for retail stock; however, problems remain in securing building materials, which has delayed the opening of a number of new stores in recent months,” it added.
There was an uptick in leasing activity in Doha Festival City and the Mall of Qatar in the second half of 2021. Place Vendome and Commercial Boulevard in Lusail, both opening in 2022, have seen considerable demand.
