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Shmool Commercial Complex Company has announced the awarding of the design and construction of the first phase of Avenues – Riyadh to Nesma & Partners Procurement Company, worth Rs 6.15 billion.
The first phase of the project includes the construction of the entire shopping complex, parking lots, parks and interior roads, Shmool Holding said in a statement.
The letter of intent had been signed for 68 million riyals, in anticipation of the signing of the final contract to start construction of the project.
The Avenues – Riyad has a huge shopping center of 1,300 shops, with five multifunctional towers including four hotels, offices, apartments and medical facilities.
The shopping center is expected to be completed in 2023, followed by the office tower and the Waldorf Astoria, and the remaining three towers.
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