Shomoul Holding Company (SHC) has awarded a main contract worth $1.76bn to Nesma & Partners for the development of The Avenues – Riyadh Mall.
The project, which includes multiple districts such as Prestige, Grand Avenue, The Soul, The Mall, Electra, Oasis, Grand Plaza, The Forum and The Walk and is spread over an area of 390,000sq m and once completed, is expected to become the ideal destination for shopping and entertainment in Saudi Arabia.
The project will have a gross leasable area of 400,000sq m and a built up area of more than 1.4 million square metres and it is expected to become one of the largest commercial malls in the Middle East region. Currently taking shape on King Salman Road and the King Fahad Causeway, the project will contribute to strengthening the service and retail sectors in the Kingdom, as well as creating thousands of jobs.
The project will also consist of five multi-purpose towers that include hotels, residential apartments, offices and parking for as many as 18,000 vehicles. The four hotels will be operated by Hilton including a Waldorf Astoria, Conrad, Hilton Garden Inn and Canopy by Hilton.
