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· Mall manager - GLA Management - signs up major international and regional brands; key anchor tenants signed· New to market signature brands to be introduced to Kuwait market
Kuwait - Tamdeen Group – Kuwait’s leading mixed-use property developer – has reported 70 percent of the new Al Kout Mall’s retail spaces leased out of its total of 260 planned stores. The developer has had an unprecedented and positive response to the new Al Kout Mall.
The new mall is part of the overall AL KOUT development in the Ahmadi Governorate. When completed, the development 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 for Al Kout Mall is ongoing with huge interest from several leading international and regional players.
In addition, through the redevelopment and expansion of the existing Al Kout mall and its transformation into Souq Al Kout, the project will boast over 100,000 sq.mtrs 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, Chairman, 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.”
Fashion will be a major component of the new mall with over 50 percent 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.
Ahmed Al Sarawi, CEO of Tamdeen Shopping Centers, said: “Construction of the mall is on schedule leading to a 5th 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.”
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, 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 opening of the mall in October 2017.
“This strong demand is a reflection of the quality of the project as well as the positive experience of retailers with existing Tamdeen projects.”
Beyond existing brands, Al Kout 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.
The project is aligned with Tamdeen’s strategy of transforming the modern retail sector in the country whilst encouraging high impact retail entrepreneurs to contribute towards innovation in modern retail.
Commenting on the complexities of the project, Avijit Yadav, COO – 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.”
Upon completion of all phases, AL KOUT will occupy a massive 300,000 sq.mtrs of area creating Kuwait’s largest waterfront mixed use destination.
-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 Al Manshar 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:
Gladson Ronad / NadinAlami
ASDA’A Burson-Marsteller
+97150 4533479 | +965 22901571
gladson.ronad@bm.com |nadin.alami@bm.com
© Press Release 2016
