Kuwait's Mabanee expects to resume work on The Avenues-Riyadh ‘soon’

Logo of Kuwait's Mabanee

Kuwait's Mabanee Co. expects to resume work on The Avenues-Riyadh project soon, which is 60% owned by its subsidiary, Shomoul Holding Co.

The company indicated that it will unveil the final project components and building timetable.

In April, Mabanee's board of directors approved the decision to resume work at The Avenues – Riyadh, after restudying the project, in light of COVID-19 pandemic, Argaam earlier reported.

As for The Avenues – Khobar, the company said in a filing to Boursa Kuwait that it is preparing the final detailed designs.

The project will include a shopping complex, entertainment areas, two residential towers, offices, clinics, and a Four Seasons hotel, the company said, adding that other two towers will be developed later.