|23 January, 2017

Kuwait's Tamdeen Group and M.H. Alshaya sign leasing deal

M.H. Alshaya to open 22 apparel, pharmacy, optical and restaurant outlets in the new Al Kout Mall.

Kuwait's Tamdeen Group and M.H. Alshaya sign leasing deal
23 January 2017
· 22 stores, including new-to-market brands, to open in the new Al Kout Mall

Kuwait - Tamdeen Group – Kuwait’s leading mixed-use property developer – signed a leasing agreement with leading retail franchise operator M.H. Alshaya Co. to open 22 apparel, pharmacy, optical and restaurant stores in the new Al Kout Mall which is part of AL KOUT, the largest mixed-use waterfront destination in Kuwait.

The agreement between M.H. Alshaya and GLA Management - a professional mall-management firm that is part of the Tamdeen Group - will offer mall visitors a selection of current favorites in M.H. Alshaya's portfolio of stores, café and restaurant brands, as well as a number of new brands not yet introduced to the market.

Alshaya’s 75 leading international brands offer shoppers a wide range of choices across fashion & footwear, food, health & beauty and optics brands.

Christian Wistrom, General Manager – Leasing, GLA Management, said: “We are delighted to partner with M.H. Alshaya Co. who are recognized as retail experts in the region. The breadth of brands and quality of service they offer appeals to the diverse aspirations of Kuwaiti residents who are among some of the world’s most discerning shoppers.

Al Kout Mall will be fully leased ahead of the project completion date by year-end, and having M.H. Alshaya on board is an expression of investor confidence in the project’s potential.”              

Under the deal, the 22 household name brands that will join Al Kout Mall’s growing list of shops, cafes and restaurants, include: Victoria’s Secret, American Eagle Outfitters, Bath & Body Works, Boots, Claire's, H&M, Justice, Mac, Next, P.F Chang's, Payless ShoeSource, Starbucks, The Body Shop, Top Shop, VaVaVoom, Vision Express, Mothercare and Foot Locker.

John Hadden, Senior Vice President – Retail Property, M.H. Alshaya Co., said: “We are very impressed with the vision of Al Kout Mall and are confident that it will become a popular destination for residents and visitors to Kuwait.  We are pleased to be working with Tamdeen Group once again to introduce some of our most popular brands to the mall and look forward to welcoming customers.”

The new Al Kout Mall was designed according to the highest international standards of modern shopping center design that balances practical design with great experiences. The mall is part of AL KOUT in the Ahmadi Governorate, the largest mixed-use waterfront development in Kuwait. The project reflects traditional architectural heritage blended with modern design featuring six different experiences across entertainment, shopping and hospitality in a destination spread over 300,000 sq mtrs that visitors can walk through seamlessly between its different components.

The Al Kout Mall project is aligned with Tamdeen Group’s strategy of transforming the modern retail sector in the country whilst encouraging high impact retail entrepreneurs to contribute towards innovation in modern retail.

-Ends-

About Al KOUT:
Al KOUT is the largest waterfront landmark and lifestyle experience in Kuwait. Encompassing six different experiences, Al KOUT, when completed will become a destination of choice for residents and visitors alike.

The new Al Kout Mall, combined with Souq Al Kout, significant for its traditional design, serves as the community hub of southern Kuwait with its stunning views of the marina and Nag’at Al Kout, the traditional fishing wharf where fishermen ply their trade. This unique blend of traditional and modern shopping is the centerpiece of 1.6 kms of beachfront which is part of the project.

In addition, the award winning, 5-star Rotana Hotel has become the hotel of choice for business travelers. The immaculate beachfront of Sahel Al Kout offers uninterrupted views of the Arabian Gulf and blends seamlessly with the state-of-the-art luxurious yacht club, Marsa Al Kout, with its excellent marina facilities for over 150 boats.

For more information on Al Kout, please visit www.alkoutmall.com.  

About GLA:
GLA Property Management is a professional retail real-estate firm and part of the Tamdeen Shopping Centers Company, a subsidiary of Tamdeen Real Estate, which belongs to Kuwait’s Tamdeen Group. It currently manages 150,000 sq.mtrs of space for the Tamdeen Shopping Centers Co. (K.S.C.C). Up to an additional 100,000 sq.mtrs of retail real estate is in the development pipeline. The company is known for its passion to build great places that deliver great experiences.

For more information on GLA Property Management, please visit www.gla.ae.

About Tamdeen Group:
Since the acquisition of Tamdeen Real Estate Company in 1996, Tamdeen Group has grown dynamically into the regional powerhouse that it is today. Through inspirational leadership and a visionary strategic focus the group now owns assets valued at over US$ 4 billion (KD 1200 million) with total combined paid up capital in excess of US$ 1.35 billion (KD 400 million).

Consisting of Real Estate Development, Investment and Entertainment arms the group has consistently delivered growth for its partners and shareholders alike. The success of Tamdeen Group is defined by its continuous evolution, and outstanding track record of innovation in its offering.  Several international awards and recognition have followed for innovative design, state-of-the-art architecture, outstanding marketing and pioneering use of technology.

Tamdeen Group’s subsidiaries are the engines that promote the growth and development of the group. These entities include:

·         Tamdeen Real Estate Co.

·         Tamdeen Investment Co.

·         Kuwait National Cinema Co.

·         Tamdeen Shopping Centers Co.

·         Tamdeen Entertainment Co.

For more information on Tamdeen Group, please visit www.tamdeen.com.  

For further information, please contact:
Pavishia Nair | Nadin Alami   
ASDA’A Burson-Marsteller
+97155 5771208 | +965 22901571
pavishia.nair@bm.com | nadin.alami@bm.com

© Press Release 2017

More From Press Releases