Magical Festival Village: 75% of Outlets Leased and Official Launch Around the Corner
Al Obaidli: Our focus in the next phase is international competitiveness
Al Mohannadi: We offer all sorts of facilities for marketing products
Signing an agreement with a German Company to hire 80 outlets to showcase international brands
Ezdan Holding Group has announced the leasing of 75% of available commercial outlets in Magical Festival Village, which exceed 400 outlets, sprawling on an area of 50,000 sqm in “Katara” area, in collaboration with local and international commercial agencies, some of which showcase their products for the first time in Qatar.
Designed in a European countryside style that flows seamlessly with the architectural lines of the Village, the commercial outlets are neighbored by the cafés area, featuring 19 cafés and 20 restaurants, next to fountain square in the heart of the market, and bordered by the public seating area of nearly 800 seats for visitors to relax and enjoy the overwhelming ambiance of the village.
Talking about “Magical Festival Village”, Ezdan Holding Group CEO Mr. Ali Mohammed Al Obaidli said: “Acquiring the majority stakes in “Magical Festival Village” supports Ezdan Holding Group’s strategy aimed at reinforcing its investments in the retail and entertainment sector. Moreover, our desire to work on this project stems from its excellent concept as the largest entertainment project in Qatar, which seeks to promote shopping and boost tourism activity. We aspire to propel the project towards greater success and effective competitiveness, while dedicating all means to turn it into a renowned shopping hub throughout the region, and the prime destination for entertainment seekers in Qatar”.
For his part, Magical Festival Village Operating Manager Mr. Abdulaziz Issa Al-Mohannadi said: “The large turnout of exhibitors, entrepreneurs and international retail agencies for the upcoming season of the Village’s events is expressively huge and an important indicator of the project’s success and impact. The turnout reflects participants desire to provide the best of their goods before a large audience base keen to visit the Village and enjoy one of the most successful projects in the entertainment sector”. He pointed out that: “top notch quality products will be displayed to meet a wide range of tastes and will vary between jewelry, clothing, leather goods, cosmetics, toys, electronics, sweets and worldwide furniture, noting that a German company has signed a lease for more than 80 outlets, through which it will offer a significant number of global brands.”
Regarding facilitations offered by the Company for tenants, Al-Mohannadi said: “We have been keen on providing accessible and easy leasing procedures to the public through making the commercial outlets leasing contract available on our website, as well as creating a dedicated channel of communication through the following numbers: (55130189 - 55773465). Anyone can apply to lease within the village without any long term rental obligations or restrictions. We have opened the opportunity to lease more than one unit for a single lessee, to meet the needs of tenants in expanding the outlet before public, in addition to other facilities related to lease terms, and more. We will also be eager to provide all facilities to our clients to promote their products for the visitors of the Village”.
“Magical Festival Village” is the first entertainment project of this size in Qatar. A seasonal project that takes advantage of the best time of the year, where weather in Qatar cools down and tourism is in its peak. The Village witnesses events and festivals, involving major international artists, with activities varying between entertainment, education and fashion. As for games, Magical Festival Village contains about 130 games designed with the latest technology in mind, and some of them are presented for the first time in Qatar.
It is worth noting that Ezdan Holding Group has announced its acquisition of Speed Trading & Contracting’s stake in “Magical Festival Village” to become the holder of 70% ownership in the company’s total capital, which total asset value amounts to more than QAR31mn. The year 2016 have seen major expansion of the Group in the retail and entertainment sector. The Group initiated this year by announcing its partnership in the “Magical Festival Village” project during Q1, then followed by the opening of the first phase of Ezdan Mall Al Wukair, one of the Group’s three Malls, the other two being Ezdan Mall Al Gharafa, the Group’s first venture in this sector inaugurated in 2013, and Ezdan Mall Al Wakra, the second largest amongst the three.