Tall & Urban News

Contract Awarded for Premium Mixed-Use Project in Saudi Arabia

Photo courtesy of Azhar Munir Din
Photo courtesy of Azhar Munir Din
29 August 2023

Mabanee, a leading developer in Kuwait, has recently awarded a construction contract worth $985 million to a joint venture of AlKifah Contracting Company from Saudi Arabia and Al Ahmadiah Contracting from Kuwait. The contract is for Phase One of The Avenues Khobar, which is a premium mixed-use project in Saudi Arabia. The project covers an area of 197,673m² in the Eastern Province of the kingdom, and includes commercial complexes, entertainment spaces, hotels, residential apartments, offices, medical facilities, and multi-purpose halls.

The joint venture is expected to complete the work on a shopping mall and mixed-use towers within three years. The Avenues Khobar offers a gross leasable area of more than 168,000m² and boasts a modern and unique design that reflects the nature of the Eastern Province, as indicated in Mabanee's filing to Boursa Kuwait.

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