Currently under construction, Doha Festival City will be a regional mixed used shopping, entertainment, leisure and hospitality destination in the north of Doha. It is being developed by Bawabat Al-Shamal Real Estate Company W.L.L. (BASREC) and is due to open in Q3 of 2016 with over 240,000 sqm of Gross Leasable Area.
To undertake a review of potential market demand and review of competing developments, to determine the feasibility of the development and advise on the optimal mix for the development.
Analysis of the Dubai tourist and population forecasts, and the proposed facilities at the development in order to identify customer demand streams
Analysis and audit of the current and future retail supply in Dubai to identify key competitors and potential gaps in the market
Advised the development on the optimal category mix and price positioning of the retail and F&B offer in order to maximise customer spend and satisfaction
Development of a bespoke footfall, space supportable and forecast revenue model to advise the development on the amount of retail and F&B space that should be provided at the development and the potential revenues this could generate
The results of Pragma’s work assisted the investment board in understanding the feasibility of the development, and provided them with a detailed understanding of the customer base, forecast space requirements and achievable revenue of the development.