Quarterly Report Qatar Q3 2021: Retail Market Overview – Cushman & Wakefield Qatar

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November 4, 2021

Quarterly Report Qatar Q3 2021: Retail Market Overview

High profile retail brands set to open in Qatar in 2022

Qatar’s final phase of easing of lockdown measures takes place
on October 3rd – more than 13 months after Phase 4 was
originally planned in September 2020.

The retail sector, which was severely impacted by the pandemic,
has recovered gradually throughout the year, with footfall
returning to pre-pandemic levels.

Abu Sidra Mall, in Al Rayyan, opened in Q3 and became the
latest addition to Qatar’s organised retail market. The
development is anchored by Lulu and comprises more than
30,000 sq m of gross leasable area.

The opening of Abu Sidra Mall together with the opening of the
Galleria in Msheireb earlier this year has brought total organised
supply in Qatar to more than 1.5 million sq m. There are now 22
organised retail malls in excess of 20,000 sq m in the environs
of Doha providing almost 1.4 million sq m of gross leasable area.

Overall supply of accommodation had been expected to grow
significantly in 2021; however, the proposed openings of Doha
Mall and Place Vendome are now expected to occur in 2022.
Cushman and Wakefield expect more than 500,000 sq m of new
retail GLA to open in the next 24 months.

Despite the delays in new project completions and lack of new
retail launches due to COVID-19, significant new leasing activity
has been taking place in upcoming malls, which will see a
number of international retail brands open in Qatar for the first
time – including Anthropology and Urban Outfitters.

Rents for ‘in-line’ retail stores of between 100 and 200 sq m in
Doha’s main organised malls typically range from QAR 200 to
QAR 300 per sq m per month. Reduced rents are available to
anchor stores and larger outlets, with retailers in a strong
position to negotiate favourable terms for large units.

Outside of the main retail malls, high street and local
convenience retail units are typically available for between QAR
90 and QAR 170 per sq m per month. Premium rents typically
apply for units with licences to sell food and beverages.

Rents for showroom accommodation on some of Doha’s busiest
traffic corridors, such as C-Ring Road and Salwa Road typically
range from QAR 90 to QAR 120 per sq m per month.

 

Cushman & Wakefield Quarterly Report Qatar Q3 2021

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