The Avenues Riyadh Mall Project Reaches 70% Completion
The Avenues Mall: Riyadh Prepares for the Opening of a Giant Elephant
The completion rate of the Avenues Riyadh Mall project has exceeded 70%, according to recent statements from the real estate company developing the project.
This giant project is approaching completion, offering unprecedented investment and tourism opportunities in the Saudi capital.
The project is being built on a construction area of 1.5 million square meters and includes:
More than 1,300 stores of international and local brands.
Five mixed-use towers including luxury hotels, residential apartments, offices, and an international conference center.
Parking space for more than 10,000 cars.
Entertainment and family areas, including cinemas, amusement parks, and green spaces.
Project Details and Strategic Location
The Avenues Riyadh is located in the Al Wahat neighborhood, north of the capital, near King Khalid Road and King Fahd Road, making it a major attraction for residents and visitors.
It has been designed to be an integrated destination combining shopping, entertainment, business, and luxury accommodation, according to the highest international standards.
Sources at Al Akaria stated that the project will contribute to the creation of thousands of direct and indirect jobs and will support the tourism and real estate sectors, strengthening Riyadh’s position as a regional economic center.
The Avenues Riyadh and Vision 2030: Promoting Economic Diversification
This massive project is part of a series of giga-projects launched by Saudi Arabia to achieve Vision 2030.
These projects aim to:
Diversify the economy away from dependence on oil by strengthening the trade, tourism, and entertainment sectors.
Attract foreign investment through the development of world-class infrastructure.
Improve the quality of life by establishing smart cities and vital centers.
According to the Saudi Arabian General Investment Authority (SAGIA), such projects are a fundamental pillar in transforming the Kingdom into a global destination.
The Avenues Riyadh is expected to contribute 15% to the retail sector’s GDP by 2030.
Timeline and Cost
Project cost: Estimated at over 20 billion Saudi riyals (approximately $5.3 billion).
Opening date: The complex is scheduled to partially open in the second half of 2025, with full completion by 2026.
Reactions and Expectations
Real estate experts have expressed optimism about the project’s impact, noting that it will be a strong competitor to complexes like the Dubai Mall, especially with its projected capacity to attract more than 50 million visitors annually.
They also praised the project’s integration of commercial and residential elements, making it a mini-city in itself.
Conclusion: A golden addition to the Saudi project landscape
The Avenues Riyadh is a milestone in Saudi Arabia’s economic transformation, embodying the Kingdom’s commitment to building a competitive infrastructure that supports Vision 2030.
As the project nears completion, all eyes are on Riyadh as the region’s new capital for investment and entertainment.
