As Saudi Arabia becomes the fastest-growing tourism destination in the GCC region, work forges ahead on the $4.58 billion The Avenues — Riyadh, which is expected to open in the first quarter of 2026. Having broken ground during the first quarter of 2022, the project has reached 44.5 percent completion. Joining the Kingdom’s numerous new megaprojects, The Avenues — Riyadh is a collaboration between Shomoul Holding Company and regional architecture and engineering firm Pace. Located at the heart of Saudi Arabia in the northern region of Riyadh, overlooking the intersection of King Salman Road and King Fahd Road, The Avenues — Riyadh extends across an area of 390,000 square meters with a total built-up area of 1,870,000 square meters. The mixed-purpose development will harbor a plethora of hospitality, lifestyle, and entertainment venues, including three hotel towers, namely Waldorf Astoria, Canopy by Hilton, and Conrad Hotel, a residential tower and an office tower with a parking lot accommodating more than 14,000 vehicles. Furthermore, The Avenues — Riyadh is set to become one of the largest commercial malls in the Middle East, with a gross leasable area of around 370,000 square meters. It will also create more than 20,000 job opportunities for Saudi nationals. Significant advancements have been made, including 9.29 percent progress on external road improvements and an impressive 90.62 percent completion of the district cooling plant. Critical components such as the chiller plant room, utility tunnel, ETS rooms and cooling towers are now considered fully completed. The project has already employed 13,000 direct manpower, working around the clock in three shifts to maintain continuous progress. Additionally, the project has surpassed the pouring of 1 million cubic meters of concrete, marking a significant milestone toward the project’s completion. The Avenues consists of nine districts: Grand Avenue, Prestige (Star Atrium), The Souk, The Mall, Electra, The Oasis, The Walk, The Forum and Grand Plaza.   Contact of shomoul  co.: Tel:          +966 138940909 Email:     info@alfozan.com  https://alfozan.com/real-estate/shomoul-holding-company   (ICE RIYADH)

Fonte notizia: Arab News