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Tamdeen leases 70pc retail space at new Kuwait mall

KUWAIT, October 25, 2016

Tamdeen Group, a leading mixed-use property developer in Kuwait, has reported that 70 per cent of the retail spaces has been leased out at its super-regional shopping destination, Al Kout Mall.

The Kuwaiti developer plans to have 260 stores in the new mall, which is part of the overall Al Kout development in the Ahmadi governorate. When completed, the project will offer six different experiences including hospitality, shopping, marina, a fishing wharf, leisure and entertainment.

With the signing of major key and anchor tenants such as H&M, Zara, GAP, Victoria’s Secret, Sephora, Massimo Dutti, Banana Republic, Jack Wills, COS, Mamas & Papas, Mothercare and several others, as well as F&B brands like Vapiano, PF Chang’s, TGI Fridays etc., leasing of the 260 units is progressing smoothly with an overwhelming response from several international and regional players.

In addition, through the redevelopment and expansion of the existing mall and its transformation into Souq Al Kout, the project will boast over 100,000 sq m of retail space, making Al Kout a super-regional mall and the largest mixed-use waterfront project in southern Kuwait.

Mohammed Jassim Khalid Al Marzouq, the chairman of Tamdeen group, said: "Our objective is to create a vibrant new destination for the south of Kuwait, offering several attractions to our consumers. We want to create a destination for visitors from Kuwait and from outside, particularly the GCC."

"This grand project is an example of our commitment to creating mixed-use developments, much like the iconic 360 Mall, which will go beyond the retail experience," he remarked.  

According to him, fashion will be a major component of the new mall with over 50 per cent of the mall catering to a variety of fashion brands.

In addition there will be significant entertainment for families including Cinescape Cinemas, the well-established Infunity and a new Sky Zone concept.

F&B will also be a significant part of the mix, offering some of the best options in casual dining restaurants as well as a state-of-the-art food court. There will be a special focus on perfumes and cosmetics to cater to specific preferences of the Ahmadi clientele, he added.

Ahmed Al Sarawi, the chief executive of Tamdeen Shopping Centres, said the construction of the mall was on schedule leading to a October 2017 grand opening which will completely redefine the shopping experience for people not just in the Ahmadi Governorate but also for those with weekend homes along the coast.

"While time is of the essence, the project quality is most important for us. Tamdeen projects are well known for their quality of design and attention to detail. Our contractor, Al Ahmediyah, is fully aligned to meet our objectives," he added.

Managed and operated by GLA Management, a professional mall-management firm, the balance retail space is currently under negotiation with other popular brands.

Christian Wistrom, the general manager (Leasing) GLA Management, said: "We are absolutely delighted that the project has received so much interest and we anticipate that it will be fully leased well before the launch."

“This strong demand is a reflection of the quality of the project as well as the positive experience of retailers with existing Tamdeen projects,” he noted.

Avijit Yadav, the chief operating officer (GLA Management) said: "The combination of several components including the malls, a traditional market, a successful marina and 1.6 kms of beach make it a complex project for us to manage. Our reward lies in the fact that we can offer so many fun experiences to our customers."

Beyond existing brands, the mall will also boast new to market brands which will be introduced to Kuwait residents for the first time. Some of these innovative brands are Sky Zone, Adidas Originals, Charming Charlie, Kiko and several more to be announced before the opening, he added.

Upon completion of all phases, Al Kout will occupy a massive 300,000 sq m of area creating Kuwait’s largest waterfront mixed use destination.-TradeArabia News Service




Tags: Kuwait | Tamdeen | mall | waterfront | retail space |

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