Under Construction

The Avenues - Khobar

The Avenues - Khobar is the Saudi Eastern Province edition of the Kuwaiti retail format that made Mabanee's name, developed by its subsidiary Shomoul Holding Company on a 198,000-square-metre site where King Saud Road meets Prince Sultan Road in Al Khobar.

Official Website
TMW IntelligenceVerified Oct 13, 2026
AnnouncedBreaking GroundConstructionOpening SoonNow Open
12.20.23
Start
2028
Completion
Scroll for details
Details

King Saud Road, Al Khobar. Broke ground December 2023, completing 2028. Financed with $1.2B in December 2023.

The story so far
Announced 2023 est.
Financing secured Dec 20, 2023Financing closed: Mabanee subsidiary Shomoul signs a 12-year SAR 4.35bn ($1.16bn) Islamic facility with a five-bank syndicate for The Avenues - Khobar
arabnews.com
Broke ground Dec 20, 2023Broke ground: Eastern Province governor lays the foundation stone for Phase 1 of the SAR 7.3bn Avenues - Khobar, built by an AlKifah / Al Ahmadiah JV
english.mubasher.info
Construction update Dec 2025Mabanee's FY2025 chairman statement reports The Avenues - Khobar at 38% complete, with opening now expected in the first quarter of 2028
mabanee.com
Construction progress May 2026Mabanee's Q1 2026 investor call puts The Avenues - Khobar at 48% complete, with the mall and office tower targeted for completion in H2 2027 and opening in the first quarter of 2028
mabanee.com
Under construction
Expected opening 2028
See the full story with Pro5 more dated, sourced milestones on this project, from announcement to opening.
Start free trial
Milestones are dated to when they actually happened and linked to their source. This record fills in over time as TMW tracks the project.
TMW Intelligence

The outlook for The Avenues - Khobar

Timing, similar projects and market pressure, read from every development in our database.

The Al Khobar market 0 · Balanced supplyAl Andalus 3-project pipeline · 880 residences and keys Explore the market →
Pro tools
Compare projectsSide by side with any projectAnalyze the marketSupply, pricing and timing
About the project

The Avenues - Khobar is the Saudi Eastern Province edition of the Kuwaiti retail format that made Mabanee's name, developed by its subsidiary Shomoul Holding Company on a 198,000-square-metre site where King Saud Road meets Prince Sultan Road in Al Khobar. Designed by the Kuwaiti practice Pace, it carries roughly 167,000 square metres of gross leasable area organised as eight themed districts — The Plaza, Grand Avenue, Town Square, The Souk, Electra, The Mall, Urban Walk and The Gardens — each given its own architectural character, daylighting strategy and street section so that the interior reads as a sequence of covered city streets rather than a single mall concourse. Two mixed-use towers rise from the retail base: one pairing a Four Seasons hotel with premium office floors, the other a Canopy by Hilton above further offices, with residential apartments also woven into the scheme. Beyond shopping, the programme runs to exhibition halls and ballrooms, more than ten cinema screens, and a broad spread of cafés, restaurants and entertainment venues, served by over 6,000 parking spaces. Construction is being delivered by a joint venture of AlKifah Contracting and Al Ahmadiah Contracting.

Developer & design
Developer
Design
Common questions

Frequently asked

Where is The Avenues - Khobar located?

The Avenues - Khobar is located in Al Khobar.

When will The Avenues - Khobar be completed?

The Avenues - Khobar is under construction, with completion expected in 2028.

Who is developing The Avenues - Khobar?

Mabanee is the developer behind The Avenues - Khobar.

Who designed The Avenues - Khobar?

The Avenues - Khobar was designed by Pace.

Who is financing The Avenues - Khobar?

The Avenues - Khobar secured $1.2B in financing in 12.20.23.