Kuwait's Mabanee to sign contracts for The Avenues in Riyadh, Khobar in ‘few days’: CEO

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Kuwait-based Mabanee Co.'s CEO, Khalid Al-Sharian, announced completing the designs of The Avenues – Riyadh project, revealing that the project contract will be signed with the main contractor within the coming days.

The top official told Al-Arabiya TV that the company will also sign in a few days The Avenues – Khobar project’s excavation contract.

He added that both projects are expected to be inaugurated in four years.

The company’s board of directors approved in April to resume work on The Avenues project, after reevaluating the project, in light of COVID-19 pandemic, Argaam earlier reported.

The Avenues-Riyadh project is a joint venture between between Mabanee Co., Al-Fozan Holding Group Saudi Arabia, and Alshaya Group Kuwait.

It is a mega mall, which houses more than 1,300 stores and consists of diverse districts designed with different themes that bring several cities into one.

It also includes five multi-purpose towers, consisting of hotels, exhibition, conference halls, residential apartments, offices, and medical facilities, making it one of the largest commercial complexes in the Middle East.