Shamoul Holding Firm- which is affiliated with the Kuwaiti Buildings Firm- has signed an settlement with the Al-Shaya Group, which offers for the funding of Al-Shaya Group for greater than $ 150 million in Avenues, Riyadh, which incorporates the opening of greater than 100 shops on a complete rental space exceeding 50 thousand sq. meters.
The corporate added in an announcement, that Avenues in Riyadh is scheduled to open within the first quarter of 2027, and it extends over a land space of 390 thousand sq. meters, with a complete rental space of 370 thousand sq. meters.
She confirmed that the Al -Shaya Group’s portfolio in Avenues Riyadh will embrace all kinds of manufacturers, akin to Starbucks, American Eagle, Foot Loker, Victoria Secret, H &M, Tub & Physique Warx, Charlotte Tilburi, Reesenge Keynes, Stylish Shack and Chipotley, along with Alta Magnificence.
In response to the info obtainable on numbers, the cornerstone of the Avenues Riyadh venture, which is applied by the Holding Holding in February 2022, was laid with greater than 14 billion riyals on an space of 1.8 million sq. meters.
Walid Al -Fahd, head of the manager operations of the Kuwaiti Buildings Firm, acknowledged in January 2025 that the completion price within the buildings for the Avenues Riyadh venture reached 65%, and the opening might be on the finish of 2026 for one in all its components, which is a business mall, 3 motels, residential tower, and one other service would be the opening of a yr after the opening of the complicated.
