With a cost of 7 billion riyals, a leasable area of 400,000 square meters, and a total construction area exceeding 1.7 million square meters, “The Avenues” complex as the largest shopping complex in the Middle East. Located at the intersection of King Salman Road and King Fahd Road, the complex spans an area of 390,000 square meters, The complex is connected to the Riyadh Metro via the Blue Line, giving it a strategic location that makes it a magnet for shoppers, tourists, and others seeking tourism, entertainment, and shopping experiences.
The complex is considered an architectural masterpiece that will enhance Riyadh’s architectural future. In addition to the shopping complex, the project includes towers housing five- and four-star hotels, residential apartments, a medical center, offices, and parking for approximately 16,000 cars, making it a premier destination for shopping, entertainment, and accommodation in the Kingdom.
Mohammed bin Abdulaziz Al-Shaya, Chairman of the Board of Directors of Shumool, the project’s owner, had previously stated that the Avenues Riyadh complex is one of the vital projects that provides added value and contributes to the development of the national economy by creating more than 30,000 job opportunities for theCentral Region, in addition to its role in enhancing the appeal of the Kingdom’s capital, Riyadh, as a tourist destination, as well as contributing to the strengthening of the services and retail sectors.
The company aims to manage industrial, commercial, and service projects, as well as hotels, restaurants, central markets, residential and commercial complexes, and tourist resorts; to purchase land and construct buildings on it; and to invest in these properties through sale or lease for the company’s benefit, in addition to developing, managing, operating, and maintaining real estate, as well as organizing and managing permanent and temporary exhibitions. Construction is expected to be completed in 2019.
