An ambitious Saudi real estate development is looking to transform Khobar City in the Kingdom’s Eastern Province.
The Avenues – Khobar is set to create 10,000 jobs and bring new retail, hospitality and lifestyle investments to Saudi Arabia.
Construction work is well underway on the giant development, which will feature commercial centre and two multi-use towers.
The Avenues – Khobar in Saudi Arabia
The mixed-use project is a testament to the Kingdom’s commitment to diversifying its economic landscape and embracing a sustainable future.
The construction works for Phase One of the ambitious SR7.3bn ($2bn) The Avenues – Khobar are being spearheaded by a Saudi-Kuwaiti alliance.
Last August, Shomoul Holding, a subsidiary of Mabanee awarded the construction contract to a joint venture of Saudi group AlKifah Contracting Company and Kuwait-based Al Ahmadiah Contracting. Working alongside Kuwait-based regional architecture and engineering firm Pace, the JV is working to bring this visionary project to life.
In December 2023, Shomoul Holding Company, a subsidiary of Mabanee, signed an agreement with a banking consortium and the Saudi Tourism Development Fund to finance the first phase of the project.
Led by Arab National Bank, the banking consortium includes Saudi Awwal Bank (SAB), Riyad Bank, and National Bank of Kuwait. Significant milestones have been achieved across various stages of the construction.
Specifically, 50 per cent of the blinding works have been completed, equating to 6,083 m³ out of the planned 12,220 m³.
Additionally, 37 per cent of the raft works are done, amounting to 54,189 m³ out of the targeted 144,857 m³. The overall project is ahead of schedule, with 5.25 per cent completed against the planned 4.92 per cent.
Strategically located at the intersection of King Saud Road with Prince Sultan Road, The Avenues – Khobar promises to offer more than just a shopping experience. It spans a vast area of 198,000sq m, featuring a commercial centre and two multi-use towers.
The first tower will house Four Seasons while the second will feature Canopy by Hilton in addition to offices. Moreover, the project boasts a gross leasable area (GLA) of 167,000sq m, accommodating a wide range of shopping, dining, entertainment, and office spaces.
Pace CEO, Architect Tarek Shuaib, said: “The Avenues brand has undeniably set the standard as a trailblazing retail and leisure destination, and The Avenues – Khobar is no exception. Aspiring to be a point of attraction not only for local residents, but also for visitors from across the Kingdom, and beyond, it is poised to redefine the region with a unique blend of retail, entertainment, and modern architectural excellence.”
This mammoth project will encompass commercial and entertainment areas, residential apartments, hotels, exhibition halls, ballrooms and offices. The project will feature more than 10 cinema halls, numerous cafes and restaurants, public gardens, and entertainment venues.
With more than 6,000 parking spaces, it ensures convenience and accessibility for its visitors.
The Avenues – Khobar will feature eight districts:
- The Plaza
- Grand Avenue
- Town Square
- The Souk
- Electra
- The Mall
- Urban Walk
- The Gardens
Among the distinctive zones, the Grand Avenue, The Plaza and The Mall will draw inspiration from the world’s most renowned shopping destinations.
The Souk draws inspiration from the rich heritage of old Saudi markets and Town Square serves as a creative and communal space.
Electra is a futuristic zone inspired by Tokyo city, where cutting-edge technology takes centre stage and Urban Walk promises a unique shopping adventure amid greenery, accompanied by both indoor and outdoor seating areas for relaxation.
Even more, The Avenues – Khobar takes on a sustainable approach with a globally inspired design, reflecting the best standards in environmental preservation and energy efficiency, perfectly in sync with the forward-looking goals of the Kingdom.
The Avenues – Khobar is set to create more than 10,000 job opportunities in the retail and entertainment sectors, significantly bolstering the entire service sector in the region.
Shuaib said: “We are proud to contribute to the growth and prosperity of Saudi Arabia’s Eastern Region. With expectations to open its doors to the public in the first quarter of 2027, The Avenues – Khobar is set to become a vibrant complex, where modernity meets tradition, and luxury intertwines with sustainability”.
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