If you have recently passed the intersection of King Salman Road and King Fahd Road in northern Riyadh, that colossal entity growing day by day has surely caught your eye — cranes that never rest, giant structures stretching as far as sight, and five towers climbing the sky one after another. This, my friend, is not just another mall joining Riyadh's list... this is The Avenues Riyadh — the 7-billion-riyal project preparing to become one of the largest shopping and lifestyle destinations in the entire Middle East.
And if you have heard the name "The Avenues" before, it is probably from our Kuwaiti brothers: The Avenues Kuwait is the most famous and successful mall in Kuwait's history, the destination Gulf travelers flock to — and now the same minds that built it are building the Riyadh edition... bigger and more luxurious.
In this guide from Raghdan Real Estate, we give you the whole project from A to Z: its story and its Kuwaiti-Saudi alliance, its numbers and scale, its eight remarkable districts, its five towers and global hotels, its entertainment and dining, when it opens its doors, and exactly how to reach it from the airport — and above all: what will this giant do to property prices around it? Read to the end and you will leave knowing the project as if you were on its team.
First: The Project Card — Numbers That Define the Scale
Take the core figures in one breath to grasp the size: land spanning more than 390,000 square meters (roughly 55 football pitches), a built-up area reaching 1.87 million square meters, leasable space of about 400,000 square meters, and a total cost of 7 billion riyals (1.86 billion dollars), raised further through expansions and additional financing during execution. Parking for more than 14,000 cars (original designs cited 16,000), a workforce exceeding 15,000 workers on three continuous shifts day and night, and a project expected to generate over 20,000 jobs at full operation. Architecture and engineering supervision by the veteran regional firm Pace.
Second: The Project's Story — From a 2015 Idea to a 2026 Giant
The Kuwaiti-Saudi Alliance
Behind the project stands Shomoul Holding Company — the developing entity — itself a heavyweight Gulf partnership story: Kuwait's Mabanee owns 55 percent — the very developer and operator of the legendary Avenues Kuwait, meaning the expertise transfers wholesale — and Saudi Arabia's Al Fozan Holding Group owns 45 percent, one of the Kingdom's largest commercial and real estate groups. The equation is clear: the Gulf's most successful mall operator + the most established local partner = a project built on solid ground of experience and capital.
And a Long Journey of Patience
The timeline deserves documenting: the project received Riyadh City Development Authority approval and launched officially in 2015, targeting a 2019 opening. But — as we saw in the sagas of KAFD and Jeddah Tower — projects of this scale run on their own clocks: delays and financing restructuring consumed years until construction truly surged in 2022. Since then the project has been sprinting: overall completion passed 50 percent, the mall itself passed 80 percent, the district cooling plant is essentially finished (97.5 percent) — and the target opening: 2026, with mall works expected complete in November 2026. By the time you read these lines, the countdown has genuinely begun.
Third: The Location — Why Al-Malqa Specifically?
The location alone is half the story: the project sits at the intersection of King Salman Road and King Fahd Road in Al-Malqa — simply the most important junction in new north Riyadh. King Fahd Road is the capital's spine from south to north, and King Salman Road is the artery linking the airport to the city's west. The neighboring districts — Al-Malqa, Al-Sahafa, Al-Yasmin, Hittin, Al-Narjis — are Riyadh's most expensive and fastest-growing, their residents precisely the audience global brands seek. Add that the project sits a stone's throw from the King Abdullah Financial District (KAFD) and its twenty thousand professionals — and the picture completes: the giant sits in the heart of gold.
Fourth: The Mall — Eight "Districts" Under One Roof
The Idea That Changed the Mall Concept
The secret of The Avenues' success in Kuwait — transplanted to Riyadh in a larger edition — is that it was never built as a traditional mall (corridors and shops), but as an indoor city of distinct "districts", each with its own architecture, atmosphere, and audience, so you move between them as if strolling through the quarters of a fully air-conditioned European city. The Avenues Riyadh holds eight districts:
Grand Avenue: the crown jewel — a shopping boulevard with classical European facades and a glass ceiling admitting daylight, where the world's biggest brands line up like a roofed Champs-Élysées. Prestige: the ultimate luxury wing — 66 exclusive units for the finest global fashion and jewelry houses. The Souk: a contemporary revival of the traditional Arabian marketplace — mashrabiya, lanterns, perfumes, and gold with a refined touch. The Mall: the heart of everyday family shopping with familiar names. Electra: the technology and electronics quarter. The Oasis: greenery, fountains, and relaxation spaces. Urban Walk: youthful modern street vibes with cafes and restaurants. And Grand Plaza: the great square for events and shows.
And the Big Names Are Already Claiming Their Places
Proof this is serious: Alshaya Group — the Middle East's largest brand operator (Starbucks, H&M, Victoria's Secret, and dozens more) — signed an investment agreement worth 150 million dollars to operate its brands inside the project. That is usually the first domino: when Alshaya commits at this scale, the rest race for space.
Fifth: The Five Towers — A Vertical City Above the Mall
Here is where The Avenues Riyadh parts ways with every mall in the Kingdom: above the retail podium rise five soaring towers transforming the project from a shopping destination into a complete city where you live, work, and sleep:
Tower One — Offices: 175 meters, 35 floors, 63,000 sqm of Grade-A office space. Tower Two — Waldorf Astoria Hotel: 173 meters, 389 rooms — one of the most prestigious hotel marques on earth, arriving in Riyadh in full splendor. Tower Three — Luxury Residential: the tallest at 180 meters and 38 floors holding 242 luxury apartments — imagine living with the entire mall beneath you (see our apartment types guide — precisely the luxury apartment and penthouse tier we explained). Tower Four — Upscale Residential: 160 meters, 31 floors. Tower Five — Conrad Hotel: 178 meters, 34 floors, from the Hilton luxury family. Add the Canopy by Hilton hotel and an integrated medical center — three global hotel brands plus living, working, healthcare, and shopping... at a single address.
Sixth: Entertainment and Dining — The Other Half of the Experience
The new rule of retail destinations: people no longer come merely to buy — they come to live an experience. The Avenues Riyadh is built on this philosophy from its bones: entire dining quarters from casual to fine dining, global and local cafes lining promenades and plazas, family entertainment zones, seasonal events and shows at Grand Plaza, and greenery with fountains at The Oasis offering curated outdoor-style seating. The entire climate is conditioned by a giant district cooling plant — Riyadh's summer has no say within these walls. Add three hotels and the medical center, and you understand why it is called "a city within a city": you could genuinely spend a full weekend — sleeping, dining, shopping, playing — without stepping outside.
Seventh: How Do You Get There? — From the Airport and Anywhere in Riyadh
From King Khalid International Airport
Easier than you expect — the location's golden advantage: exit the airport onto King Salman Road heading west — one straight expressway with no interchanges or complications — and continue until its intersection with King Fahd Road... the project stands at that very junction. The distance is about 25 kilometers, the time 20 to 25 minutes in normal conditions. Your guest arriving from Jeddah, Dammam, or Kuwait can be inside Grand Avenue within half an hour of touchdown.
And from Within Riyadh
From the center and south: King Fahd Road straight north to the King Salman junction. From east and west: King Salman Road delivers you from both directions. Parking? More than 14,000 internal spaces — a figure surpassing most airports. And comprehensive road and bridge upgrades around the intersection are underway within the project to absorb the expected visitor flow, so access will only get smoother by opening day.
Eighth: What Does This Project Mean for Riyadh Real Estate? — The Raghdan Reading
Now we put on our real estate glasses, because a project this size never arrives alone — it drags the whole market with it:
First — the direct neighborhood effect: The Avenues Kuwait demonstrably lifted the value of everything around it, and the Riyadh edition is larger. Al-Malqa, Al-Sahafa, Al-Yasmin, and Hittin — already premium — gain an extra layer of value: proximity to the city's first shopping and entertainment destination enters the pricing equation of every apartment and villa around it (literally our article on the factors that determine real estate prices in action — services and landmarks raise prices). Second — rental demand: twenty thousand new jobs mean thousands of employees seeking nearby housing — net rental demand flowing into the northern districts. Third — shopping tourism: the project is poised to become a Gulf destination in its own right like its Kuwaiti sibling, with all that means for hotels, serviced apartments, and short-term rentals around it. Fourth — the bigger message: a private Gulf investment of seven billion in Riyadh's heart is a resounding vote of confidence in the capital's future under Vision 2030. And as always, our standing advice: track the surrounding districts' prices through Raghdan Real Estate Indicators — mega projects move prices years before they open, and the actual numbers reveal the wave in real time.
Frequently Asked Questions
What is The Avenues Riyadh? And who is developing it?
A mixed-use project costing about 7 billion riyals at the King Salman–King Fahd intersection in Al-Malqa, north Riyadh, comprising a mall of eight shopping districts, five towers, and three global hotels. It is developed by Shomoul Holding — owned by Kuwait's Mabanee (55%, developer of The Avenues Kuwait) and Saudi Arabia's Al Fozan Holding Group (45%).
When does The Avenues Riyadh open?
The targeted opening is during 2026, with mall works expected complete in November 2026. Launched in 2015 and delayed, construction surged in 2022; the mall has passed 80 percent completion and the overall project 50 percent — final dates remain subject to the developer's official announcements.
What are the eight districts inside the mall?
Grand Avenue (European facades and flagship brands), Prestige (66 exclusive ultra-luxury units), The Souk (traditional Arabian market spirit), The Mall (family shopping), Electra (technology), The Oasis (greenery and relaxation), Urban Walk (modern youthful street vibes), and Grand Plaza (the grand events square).
What hotels and towers does the project include?
Five towers above the mall: an office tower (175m), the Waldorf Astoria hotel tower (173m, 389 rooms), a luxury residential tower (180m, 242 apartments), an upscale residential tower (160m), and the Conrad hotel tower (178m) — plus a Canopy by Hilton hotel and a medical center. Three global hotel brands at one address.
How do I reach The Avenues Riyadh from the airport?
From King Khalid International Airport, take King Salman Road heading west — one road, no diversions — to its intersection with King Fahd Road, where the project stands. About 25 km and roughly 20–25 minutes. From within Riyadh: King Fahd Road north. Internal parking holds more than 14,000 cars.
Will the project affect property prices in north Riyadh?
The indicators say yes: giant retail and entertainment projects historically lift surrounding district values (Al-Malqa, Al-Sahafa, Al-Yasmin, Hittin), add rental demand from thousands of new jobs, and energize hotel and short-term rentals. Track these districts' actual numbers through Raghdan Real Estate Indicators — the wave usually starts before the opening.
How does The Avenues Riyadh differ from The Avenues Kuwait?
The same philosophy (a city of districts under one roof) and the same lead developer (Mabanee), but the Riyadh edition is larger in built area (1.87 million sqm) and distinguished by its vertical component: five residential, hotel, and office towers above the mall make it a complete city to live and work in — not merely a shopping destination.
Conclusion
The Avenues Riyadh is not just another mall — it is a project redefining what "destination" means in the capital: 390,000 square meters of land carrying 1.87 million square meters of construction, eight shopping districts each with its own soul from the European Grand Avenue to the Arabian Souk, five towers holding Waldorf Astoria, Conrad, Canopy, 242 luxury apartments and first-class offices, parking for 14,000 cars, and twenty thousand jobs — all signed by a Gulf alliance that has tried and triumphed: Kuwait's Mabanee of Avenues legend, and Saudi Arabia's Al Fozan with its local weight.
From the 2015 journey and its delays to today's 15,000-worker shifts, the project approaches its great moment in 2026 — 25 minutes from the airport at the north capital's most important junction. For investor and resident alike, the message is one: giants move prices around them before they open their doors, so open Raghdan Real Estate Indicators and watch Al-Malqa, Al-Sahafa, and Al-Yasmin by the numbers — opportunity reads in the indicators before it reads in the news.
Did you find this guide useful? Share it with everyone following Riyadh's mega projects, living in the north of the capital, or watching for the next wave — let them know what is coming, one intersection away.
