Shomoul Holding Company, a unit of Kuwait’s Mabanee Company has laid the foundation stone for the $3.7bn project in Riyadh.
The Avenues – Riyadh, which spans an area of 390,000sq m, is set to become the go to location for shopping, entertainment and residing in Saudi Arabia. The retail destination enjoys a direct strategic location on King Salman Road and the King Fahad Causeway and it will continue to strengthen the service and retail sectors in the Kingdom, all whilst creating tens of thousands of job opportunities.
The project will offer a leasable area of 400,000sq m and a total area of 1.8 million square metres with part of the project consisting of five multi-purpose towers which will include hotels, residential apartments, offices and parking for 18,000 vehicles. This will make the project the very best destination for shopping, entertainment and even residence.
Meanwhile, the project will include multiple districts including Prestige, Grand Avenue, The Souk, The Mall, Electra, Oasis, Grand Plaza, The Forum and The Walk. Upon completion, The Avenues – Riyadh will be one of the world’s most prominent tourism and entertainment destinations.
