Sunday 1 August 2021

Tamdeen to set up region's first hybrid outlet mall in Kuwait

KUWAIT CITY, October 26, 2019

Kuwait’s leading mixed-use property developer Tamdeen Group said one of its subsidiaries, Tamdeen Pearl, has launched Al Khiran, the region’s first hybrid outlet, leisure and lifestyle destination. 
The hybrid outlet concept comes as a direct response to heightened shoppers’ expectations who have come to demand an all-inclusive experience, said a statement from Tamdeen. 
Al Khiran Hybrid Outlet Mall will combine great value with dynamic experiences through a mix of premium outlet shopping, unique dining options, cutting-edge entertainment, large format events, exhibitions and recreational leisure experiences, it stated.
It will be first introduced to the retail real estate industry at the upcoming Retail Congress Mena 2019 in Dubai, which is annually organised by the Middle East Council for Shopping Centers and Retailers.
Spread across 350,000 sq m in the heart of Sabah Al Ahmad Sea City,  the Al Khiran Hybrid Outlet Mall will boast 70,000 sq m of GLA with several key features that will set the project apart and position it as the mall format of the future. 
It is further complemented with recreational components like Kuwait’s largest marina with 900 berths, 1.25 km of beautifully-landscaped park and boardwalk, the water gardens with their captivating water features and an active amphitheatre holding a year-long programme of events. 
A total of 3,700 parking spaces will also offer customer’s increased ease and accessibility. All of this and much more will allow Al Khiran Hybrid Outlet Mall to offer experiences for the whole day and the whole family.
Located in the South Kuwait, the project will benefit from the country’s stable economy with a GDP of $142 billion that serves a population of over 4.6 million people of which 70% youth. 
The project will present customers with a spectacle in design and offering as it ensures that the demands of today’s customers are satisfied through a value offering of over 300 stores, vast dining options and major experience-based components like AI and tech-themed entertainment, said its top official. 
"Tamdeen Group is proud to be launching the first hybrid outlet concept in the region, which aims to satisfy a changing customer and growing demand for great value and heightened experiences," remarked chairman Mohammad Jassim Al Marzouq. 
"Our conviction in this project stems from a thorough understanding of customers’ expectations and behaviours in Kuwait along with a deep-rooted purpose of setting new benchmarks in the country’s retail real-estate industry," noted Al Marzouq. 
"Kuwait’s 2035 Vision and, as part of it, the rigorous development in its South have furthered our role in the private sector of strengthening the position of Kuwait as a regional destination for shopping, entertainment and leisure," he added.
According to him, the South of Kuwait is currently undergoing rapid development with four major cities nearing completion and residents beginning to populate these areas. 
The total housing units in these cities would cross 100,000, serving a significant resident population, he stated. 
This rapid infrastructure development and urbanisation, in addition to its adjacency to the markets of the Eastern Saudi provinces is making the South of Kuwait an ideal location for retail real-estate development.
Al Khiran Hybrid Outlet Mall will serve a catchment area that services most of Kuwait, the Eastern Saudi provinces and a robust Saudi tourist market, said Al Marzouq. 
A total population base in the catchment area is estimated to be four million, which is complemented by an additional inflow of 2.5 million Saudi tourists arriving by near road, he added.
According to him, Tamdeen Group has consistently delivered exceptional results across several businesses including real-estate. 
"Today, the group is managing and developing over 5 million sq ft of space across regional, community, lifestyle, neighborhood and mixed-use centres. With its diverse range of projects and ongoing investments, it is continuously re-emphasising its commitment to contribute to Kuwait’s economic development," he added.-TradeArabia News Service 


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