Tourism Development Fund Signs Agreement with Shomoul Co. for The Avenues-Khobar

The Tourism Development Fund and a banking consortium have signed an agreement with Shomoul Holding Company to finance the first phase of the The Avenues-Khobar project with 4.35 billion Saudi Riyals, reported Ajelnews on X.

The Avenues Khobar project

The project will include 8 shopping areas, two hotel towers, 10 cinemas, and various recreational spaces and facilities.

The Avenues-Khobar, located in the city of Al Khobar, will be an unparalleled shopping destination and a unique attraction and entertainment point for residents of the Eastern Province and visitors from inside and outside the Kingdom.

The Avenues-Khobar project Resembles History

It is a new and unique destination, distinguished by its modern architectural style that reflects the rich history and beauty of the Eastern Province. It boasts a vast area of 197,673 square meters, making it one of the largest shopping centers.

The total leasable area is 168,532 square meters. Moreover, the project includes two towers: the first being the Four Seasons Hotel, and the second the Canopy – Hilton Hotel, in addition to offices.

The Avenues-Khobar project is part of the company’s strategy to contribute to the development of the Eastern Province, creating thousands of jobs for Saudis. It will serve the region and the Kingdom by offering a project with sustainable standards and innovative global design.

It is worth mentioning the unique shopping and entertainment concept of The Avenues –Khobar. The project also consists of eight shopping zones, each with a distinct design and atmosphere. This variety provides visitors and shoppers with a pleasurable and exceptional experience.

Therefore, the Avenues-Khobar will be unparalleled, featuring cinema halls, numerous cafes and restaurants, public gardens, and entertainment halls suitable for all ages. The project will also provide more than 6,000 car parking spaces.

 

The Avenues-Khobar will create more than 10,000 job opportunities in the retail and entertainment sectors. Moreover, it will enhance the service sector throughout the Eastern Province. The project is expected to open in the first half of 2027.

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