Work is forging ahead on the SAR17.2 billion ($4.586 billion) The Avenues – Riyadh, which is expected to open in the first quarter of 2026.
Having broken ground during the first quarter of 2022, the project has reached 44.5 per cent completion.
Joining the kingdom’s numerous new mega projects, The Avenues – Riyadh is a collaboration between Shomoul Holding Company and regional architecture and engineering firm, Pace.
Located at the heart of Saudi Arabia in the northern region of Riyadh City, overlooking the intersection of King Salman Road and King Fahad Road, The Avenues – Riyadh extends across an area of 390,000 sq m with a total built up area of 1,870,000 sq m. The mixed-purpose development will house a plethora of hospitality, lifestyle, and entertainment venues, including three hotel towers, namely a Waldorf Astoria, Canopy by Hilton, and Conrad Hotel, a residential tower and an office tower with a parking lot accommodating more than 14,000 vehicles.
ONE OF THE LARGEST MALLS
Furthermore, The Avenues – Riyadh is set to become one of the largest commercial malls in the Middle East, with a gross leasable area of around 370,000 sq m. It will also create more than 20,000 job opportunities for Saudi nationals.
Significant advancements have been made, including 9.29 per cent progress on external road improvements and an impressive 90.62 per cent completion of the district cooling plant. Critical components such as the chiller plant room, utility tunnel, ETS rooms and cooling towers are now considered fully completed. The project has already employed 13,000 direct manpower, working around the clock in three shifts to maintain continuous progress. Additionally, the project has surpassed the pouring of one million cubic metres of concrete, marking a significant milestone towards the project’s completion.
“We are excited to contribute to Saudi Arabia’s dynamic urban environment with the creation of this landmark project,” Tarek Shuaib, Pace CEO, said. “An iconic destination in the heart of Riyadh, the exquisite architectural style of The Avenues will incorporate the Salmani Architecture to reflect its strong signature in the Najd region. Promising to be a game-changer in the city’s architectural landscape, the project combines cutting-edge modern design with sustainable features and green elements to align with the Kingdom’s Vision 2030.”
