A consortium of Qatari investors United Developers has launched the Parisian-inspired mixed-use development project, The Place Vendôme, at Lusail City in Doha, Qatar.
The $1.37bn project will be built across 800,000m² of beachfront land at Lusail City, and will feature two five-star hotels, serviced apartments, entertainment and around 400 retail outlets.
Place Vendôme project director Sean Kelly said that Place Vendôme will be the new centre of attraction for residents and visitors seeking a combination of varied entertainment and retail choices in one location.
"Rising in parallel with the infrastructure in Lusail City, this project will be served by new roads, public transportation, parks and marinas by the date of completion," Kelly said.
"Project funding is in place and the necessary approvals have been secured to pave the way for continued progress on the development."
According to United Developers, the project has been inspired by the Parisian district of the same name and will be represent the high-end shopping street in Paris, Rue de la Paix.
The project is expected create opportunities and jobs during construction and after completion.
The Place Vendôme is expected to open in the third quarter of 2017.