Opening Soon

The Avenues

The Avenues Riyadh is a mega-scale retail and mixed-use destination in North Riyadh, developed by Shomoul Holding with Mabanee at the intersection of King Salman Road and King Fahd Road.

Official Website
TMW IntelligenceVerified Oct 9, 2026
AnnouncedBreaking GroundConstructionOpening SoonNow Open
02.22
Start
2027
Completion
38
Floors
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Details

38 floors. Broke ground February 2022, completing 2027. Financed with $3.0B from Argaam in October 2025.

The story so far
Announced 2022 est.
Broke ground Feb 2022Groundbreaking under the patronage of the Riyadh Governor (Shomoul Holding / Mabanee).
mepmiddleeast.com
Halfway there 2026
argaam.com
Coming soon Jul 14, 2026 est.
mabanee.com
Financing secured Late 2025Mabanee upsized the mall facility by SAR 2.38B and added a SAR 3.45B loan for The Avenues Riyadh Towers (SAR 5.83B / $1.6B combined), taking total debt on the project to SAR 11.44B ($3.04B) over a 14.25-year door-to-door tenor
argaam.com
Expected opening 2027
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The Riyadh market 99 · Saturated supplyNorth Riyadh 26-project pipeline · 117,710 residences and keys · peak Late ’27 Explore the market →
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About the project

The Avenues Riyadh is a mega-scale retail and mixed-use destination in North Riyadh, developed by Shomoul Holding with Mabanee at the intersection of King Salman Road and King Fahd Road. Organized as nine distinct districts, it is set to become one of the largest malls in the Middle East. The development stacks hospitality, residential and office towers above the retail base, including Waldorf Astoria, Conrad and Canopy by Hilton hotels, alongside a nineteen-hall cinema complex and parking for more than fourteen thousand vehicles.

Developer & design
Common questions

Frequently asked

Where is The Avenues located?

The Avenues is located in Riyadh.

When will The Avenues open?

The Avenues is opening soon, with completion expected in 2027.

Who is developing The Avenues?

Shomoul Holding Company, Mabanee is the developer behind The Avenues.

Who designed The Avenues?

The Avenues was designed by Aedas.

How big is The Avenues?

The Avenues rises 38 stories.