JLL, the leading global real estate advisory firm, has announced that it has been appointed by First Avenue Real Estate Development as the sole exclusive leasing agent for its prime development - Capital Avenue - in Riyadh.
Set for Q1 completion, Capital Avenue is an iconic 13-storey business address poised to become a central pulse point for Riyadh's new era and a key contributor to the city's growth as a global capital of innovation and opportunity under Vision 2030.
Capital Avenue stands out for its exceptional tenant-centric design and amenities, truly reflecting First Avenue's commitment to going above and beyond for its occupiers, said a statement from JLL.
The development, spanning an impressive 16,515 sq m of total office area, boasts a dedicated gym, an outdoor cinema and over 2,000 sq m of expansive communal landscaped gardens, alongside 2,374 sq m of private on-floor terraces.
Complementing its modern Salmani architecture and intelligent design, Capital Avenue also features a 250 sq m café/lounge, 8 high-speed elevators, and 329 dedicated parking spaces, ensuring excellent natural light, efficient floorplates, and seamless convenience.
Atallah Alamri, the Chief Asset Management Officer of First Avenue for Real Estate Development, said: "Capital Avenue is our vision brought to life – a workspace designed not just for efficiency, but for inspiration and holistic well-being. Our partnership with JLL, a trusted advisor, ensures that this pioneering project reaches the right tenants who share our ambition to shape Riyadh's future business landscape."
"We are confident that Capital Avenue's unparalleled amenities and strategic location will set a new benchmark for premium office environments and foster value creation through inspiring developments and rewarding investments," he stated.
Strategically located on King Salman Road in Al Qirawan, northern Riyadh, Capital Avenue offers seamless access to the city's key business districts and major highways.
JLL's appointment to this significant project further solidifies its commitment to fostering innovation and facilitating strategic partnerships that drive the evolution of Riyadh's commercial real estate landscape, supporting the Kingdom's broader economic diversification goals.
John Campbell, the Landlord Leasing Advisory Director at JLL KSA, said: "Capital Avenue represents the next generation of office environments, meticulously designed to meet the evolving demands of Riyadh's dynamic business landscape. Our role as First Avenue's trusted advisor underscores the market's confidence in this project."
"Its superior amenities, efficient floorplates, and unparalleled location, just 5 minutes from New Murabba, 19 minutes from KAFD, and 18 minutes from King Khalid International Airport, will attract top-tier tenants seeking a truly integrated and inspiring workspace that supports productivity and well-being. We are proud to partner with First Avenue to bring this pivotal development to market," he added.-TradeArabia News Service
