Kuwait-based Mabanee Co. said that the board of directors’ recent decision about reconsidering The Avenues – Riyadh amid the current economic conditions and the COVID-19 outbreak does not include The Avenues – Khobar.
Answering a question to Al-Qabas newspaper, Mabanee said that it was pushing ahead with the Khobar-based project on a total area of 209,000 square meters.
The project’s final designs were completed. In addition to the shopping complex, the project will comprise entertainment areas, hotel and residential towers, offices, clinics, conference halls and showrooms.
“Mabanee still believes there are expansion opportunities in the Kingdom, which will have a positive impact on the project when completed,” the company added in a statement.
The Avenues – Khobar will be a key shopping destination in the Eastern Province, the statement concluded.
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