Qatar's new ultra-luxury shopping mall eyes Q4 launch

A new ultra-luxury shopping center, which will target Qatar's wealthiest residents, is hoping to launch by the end of the year. According to Doha News, the Italian-inspired QR3 billion AlHazm retail project will include underground access for VVIP shoppers, which will give private access to shops and an auction and gallery space. The project, which is being developed by Al Emadi Enterprises and is located near Al Markhiya, will also feature a VIP floor with personal shoppers. Doha News reported that the developer declined to list the names of the retail outlets that will be housed in AlHazm, but said several designer brands and high-end stores will be included. Qatar is home to the third-highest density of millionaires in the world. According to a report from BCG, the total number of households in the country with private wealth of $1 million or more rose by 3.7 percent during 2014. That figure is projected to further increase by 4.1 percent by 2019. Doha News quoted AlHazm's marketing director, Soufiane El Ouazzani, as saying: "It's not a mall. Our target [is] people who don't go to malls. We're catering to the Qataris who don't shop in Doha, the ones who go to Paris and Milan to buy clothes and accessories." He added that although the company is eyeing an end-of-year launch, that may be pushed to the first quarter of 2016.