By Andy Sambidge
Deal signed to bring discount market to Barwa's Commercial Avenue project in 2012
Qatar's Barwa Real Estate has signed an agreement with Chinese retail giant Dragon Mart to open a market for Chinese products in the Gulf state.
Barwa said the Dragon Mart market would open in its Commercial Avenue project in the first quarter of next year.
The lease agreement was signed by Abdulla Abdulaziz Al Subaie, CEO of Barwa and Dragon Mart representative, Feng Jiang at a ceremony at Barwa's headquarters.
The Chinese Market is expected to be inaugurated on March 1 and will be the first of its kind in Qatar.
Dragon Mart currently operates in Dubai and its operator, Nakheel, said in August it was planning to more than double the size of the store.
At 1.2km long, Dragon Mart in Dubai is already the largest trading centre for Chinese products outside mainland China, with more than 2,800 stores – many of which offer discounted products.
The Qatar version is expected to operate in a similar way with discounted electronics, building materials, and household items.
Abdulla Abdulaziz Al Subaie, CEO of Barwa, said he was delighted to sign up Dragon Mart on a leasing agreement.
"Barwa Commercial Avenue meets the needs of the Qatari market. Barwa is committed to establishing partnerships with other parties and contribute to the construction boom witnesses by the country, with the aim of working towards achieving the Qatar National Vision 2030," he added.
Feng Jiang, Dragon Mart's representative, added: "This step will strongly contribute towards providing the Qatari market with a variety of Chinese products, which is a promising and attractive offer for all."
The Barwa Commercial Avenue project is a new mixed-use development that includes commercial units, retail spaces and residential units. The project expands along 8 sq km.
The project also features five major low-rise buildings, which are expected to accommodate up to 24,000 residents.