Logo of Mabanee Co.
Kuwait’s real estate developer, Mabanee Co., will hold a ceremony to break ground on The Avenues Khobar project on Dec. 17, according to the company’s filing to Boursa Kuwait.
The mixed-use project, covering an area of 197,670 square meters (sqm) in the Eastern Province, will offer a gross leasable area of more than 168,000 sqm.
In August, Mabanee awarded the main contractor tender for the construction of phase 1 of The Avenues Khobar project, comprising the commercial center and mixed-use tower 2, to a consortium of Kuwait-based Al Ahmadiah Contracting & Trading Co. and Saudi-based AlKifah Contracting Co., at a total value of SAR 3.7 billion. The project implementation period is 36 months, Argaam’s data showed.
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