28-08-2023
Shomoul Holding Company announced the awarding of the tender for the main contractor for the construction works for the first phase of The Avenues – Khobar project to Al-Kifah Contracting and Al-Ahmadiyah Contracting, which includes (the commercial center and the second tower - mixed-use), with a total value of 3.66 billion Saudi riyals.
The Avenues - Khobar, which is located in the city of Al-Khobar in the northwest corner of the intersection of King Saud Road with Prince Sultan Road, is an unparalleled shopping destination and a distinctive attraction and entertainment point for the residents of the Eastern Province and its visitors from inside and outside the Kingdom.
The Avenues - Khobar project is a new and unique destination, as it is characterized by its modern architectural style that reflects the ancient history and beauty of the eastern region, and is distinguished by its vast area of 197,673 square meters, which makes it one of the largest commercial centers. The total leasable area is 168,532 square meters. The project also includes two towers, the first is the Four Seasons Hotel and the second tower is the Canopy by Hilton Hotel, in addition to offices.
On this occasion, Mr. Walid Khaled Al-Sharian, CEO of Shomoul Holding Company, stated: “We are pleased to sign with two of the largest contracting companies in the Kingdom of Saudi Arabia and Kuwait, Al-Kifah Contracting and Al-Ahmadiyya Contracting. The Avenues - Khobar project is part of the company’s strategy to contribute to the development of the Eastern Province and create thousands of jobs for our Saudis and serving the region and the Kingdom by providing a project with sustainable standards and creative global design.”
It is worth mentioning the wonderful concept of shopping and entertainment that distinguishes The Avenues - Khobar from others, as it consists of eight shopping areas, each with a unique design and a different atmosphere, as this diversity gives visitors and shoppers fun and an exceptional experience.
The Avenues – Khobar will be undisputed, as it will include cinemas, many cafes and restaurants, public parks, and entertainment halls suitable for all ages. The project will also provide more than 6,000 parking spaces.
The Avenues - Khobar will create more than 10,000 jobs in the retail and entertainment sector and will boost the service sector in the entire Eastern Province.
The project is expected to open in the first quarter of 2027.
