Established in 2014, Shomoul has put in place a number of projects that are being designed and implemented with the highest international standards, thus achieving the goals of the investors. The development plans in Saudi Arabia support decision makers, which in turn help enhance the national economy. The company is in the process of implementing two major projects in Saudi Arabia, namely, The Avenues - Riyadh and The Avenues - Khobar, which are inspired by the success of The Avenues - Kuwait.
The Avenues - Riyadh embodies the success of The Avenues - Kuwait, with its districts and unique design. The project extends across 390,000 sq.m. and is located at the entry point of the capital city, overlooking the intersection between King Salman and King Fahad Roads, and just a few minutes away from King Khalid International Airport. The overall cost of the project stands at SAR 12 billion.
The Avenues - Riyadh, is a vital project that will contribute to the national economy development through offering 40,000 job opportunities in the central region of KSA. It will also play a significant role in promoting the Kingdom as a touristic destination, and enhancing the retail and services sector in Saudi Arabia.
The project’s leasable area is 400,000 sq.m. and the buildup area is more than 1.4 million sq.m., which will make it one of the largest commercial malls in the Middle East. Part of the project will consist of a number of towers that include two hotels – five-star and four-star, residential apartments, offices and parking for 18,000 vehicles. This will make it the best destination for shopping, entertainment and even residence in the Kingdom of Saudi Arabia.
The project includes multiple districts such as Prestige, Grand Avenue, The Souk, The Mall, Electra, Oasis, and Grand Plaza.
The Avenues - Riyadh will include four hotels operated by Hilton, including a 350-room Waldorf Astoria, a 400-room Conrad, a 450-room Hilton Garden Inn, as well as a 150-room Canopy by Hilton, the first of Hilton’s lifestyle Canopy by Hilton brand in the Middle East.
Shomoul’s other project in Saudi Arabia is The Avenues - Khobar, which builds on the model of The Avenues - Kuwait in terms of design and components in a manner that suits the Eastern Province.
The project is located at the northwestern corner of the intersection of King Saud Road with Prince Sultan Road. It extends over an area of 209,000 sq.m. and includes a leasable area of 180,000 sq.m. This includes commercial and entertainment areas, residential apartments, hotels, offices and medical facilities. Segments of the project are still under design and review