Construction of $4B The Avenues-Riyadh Mall is a monumental mixed-use development poised to redefine the commercial and leisure landscape of Saudi Arabia’s capital. With an investment of approximately SAR 17.2 billion (USD 4.58 billion), this project is set to become one of the largest commercial malls in the Middle East, offering a blend of retail, hospitality, residential, and office spaces.
Project Overview
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Location and Size: Strategically situated at the intersection of King Salman Road and King Fahad Road in northern Riyadh, The Avenues–Riyadh spans a land area of 390,000 square meters, with a total built-up area exceeding 1.87 million square meters
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Components:
- Retail: The development features a vast shopping mall with a gross leasable area of approximately 370,000 square meters, housing over 1,300 stores that encompass a diverse mix of local and international brands.
- Hospitality: Three luxury hotel towers—Waldorf Astoria, Canopy by Hilton, and Conrad Hotel—will provide premium accommodations for visitors.
- Residential and Office Spaces: The project includes a residential tower offering modern apartments and an office tower designed to meet contemporary business needs.
- Parking Facilities: To accommodate the anticipated influx of visitors and residents, the complex offers parking for over 14,000 vehicles.
Construction Progress
Construction commenced in early 2022, and as of February 2025, the project has achieved 65% completion. The commercial mall is slated to open in late 2026, with the hotels, residential, and office towers expected to launch in the following year. The development has engaged approximately 13,000 workers, operating around the clock in three shifts, and has surpassed the milestone of pouring one million cubic meters of concrete.
Investment and Economic Impact
The Avenues–Riyadh represents a significant investment of SAR 17.2 billion (USD 4.58 billion). The project is expected to generate over 20,000 employment opportunities for Saudi technicians and operators, contributing to the Kingdom’s economic diversification efforts
Architectural Design
The development showcases Salmani architectural design, a style that harmoniously blends traditional Najdi elements with contemporary aesthetics. This approach not only pays homage to Riyadh’s rich cultural heritage but also aligns with sustainable and green building practices, reflecting the Kingdom’s vision for environmentally conscious urban development.
Alignment with Vision 2030
The Avenues–Riyadh aligns with Saudi Arabia’s Vision 2030 objectives by enhancing the quality of life for residents, providing world-class infrastructure, and positioning the Kingdom as a leading global tourist destination. The project’s diverse offerings are set to attract both local and international visitors, bolstering economic growth and urban development.
The Avenues–Riyadh is poised to become a premier investment and commercial destination in the Middle East. With its strategic location, comprehensive amenities, and architectural excellence, the development stands as a testament to Saudi Arabia’s forward-looking urban vision and commitment to economic diversification.
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