Construction has kicked off at a rapid pace on Phase One of the SAR7.3 billion ($1.95 billion) groundbreaking mixed-use development, The Avenues - Khobar in the Eastern Province of Saudi Arabia, following the award of the construction contract to a Saudi-Kuwait joint venture last month (August).
The contract was awarded by the developer Shomoul Holding Company - a subsidiary of Kuwait-based developer Mabanee - 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 to life this visionary project which is set to transform the landscape of Al Khobar city.
In December 2023, Shomoul Holding 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.
The latest addition to the illustrious The Avenues series of projects, work on The Avenues - Khobar is already ahead of schedule, with 5.25 per cent completed against the planned 4.92 per cent, according to a statement from Pace.
Around 50 per cent of the blinding works have been completed, equating to 6,083 cu m out of the planned 12,220 cu m. Additionally, 37 per cent of the raft works are done, amounting to 54,189 cu m out of the targeted 144,857 cu m. The overall project is ahead of schedule, with 5.25 per cent completed against the planned 4.92 per cent, said the statement. The Avenues – Khobar is expected to open to the public in the first quarter of 2027.
Strategically located at the intersection of King Saud Road with Prince Sultan Road, The Avenues - Khobar boasts a gross leasable area (GLA) of 167,000 sq m and promises to offer more than just a shopping experience, accommodating a wide range of shopping, dining, entertainment, and office spaces.
It spans a vast area of 198,000 sq m, featuring a commercial centre and two multi-use towers encompassing commercial and entertainment areas, residential apartments, hotels, exhibition halls, ballrooms and offices.
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 167,000 sq m, accommodating a wide range of shopping, dining, entertainment, and office spaces.
Commenting on the new mega project, 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.”
The Avenues - Khobar boasts a modern architectural style that harmoniously blends elements that pay homage to the rich history and natural beauty of the Eastern Province.
A haven for entertainment enthusiasts, the project will feature over 10 cinema halls, numerous cafes and restaurants, public gardens, and entertainment venues suitable for all ages, catering to diverse interests and preferences. With more than 6,000 parking spaces, it ensures convenience and accessibility for its visitors.
Going beyond traditional malls, the concept of shopping and entertainment at The Avenues - Khobar stands out, comprising eight districts – The Plaza, Grand Avenue, Town Square, The Souk, Electra, The Mall, Urban Walk and The Gardens – each designed with a unique ambiance.
Among the distinctive zones, the Grand Avenue, The Plaza and The Mall are destined to be the epitome of luxury shopping, drawing inspiration from the world's most renowned shopping destinations, said Pace.
The Souk, another enchanting zone, draws inspiration from the rich heritage of old Saudi markets. Offering a glimpse into the kingdom's vibrant heritage, The Souk provides a captivating blend of authentic local restaurants and traditional market vibes. It represents a cultural journey within the heart of the complex, where visitors can savour local flavours and immerse themselves in a vibrant atmosphere.
Bathing the area in a warm and welcoming glow with its abundant natural lighting, Town Square serves as a creative and communal space, fostering connections among shoppers and encouraging artistic inspiration. Meanwhile, Electra is a futuristic zone inspired by the vibrant energy of Tokyo city, where cutting-edge technology takes centre stage.
Urban Walk promises a unique shopping adventure, with tranquil gardens offering serene strolls amidst lush greenery, accompanied by both indoor and outdoor seating areas for relaxation.
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' success far exceeds the confines of a typical shopping experience, turning into a holistic philosophy that is currently being emulated across the region. What began as a visionary concept in Kuwait has become a powerful symbol of modernity, luxury, and innovation,” Shuaib stated.
Aligned with the Saudi Vision 2030, which seeks to diversify the nation's economy away from oil dependency, The Avenues - Khobar is set to create over 10,000 job opportunities in the retail and entertainment sectors, significantly bolstering the entire service sector in the region, he added.
“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,” Shuaib concluded.
