The Avenues - Bahrain mall, located in capital Manama, has received government approvals to start work on its 60 million Bahraini dinar ($159 million) Phase II expansion, it was announced on Sunday.
Developed and managed by Kuwait-based developer Mabanee, the first phase of The Avenues - Bahrain was inaugurated in 2017 with a gross leasable area of 40,000 square metres (sqm).
The Avenues - Bahrain management said in a press statement that Phase II is projected to be completed by the fourth quarter of 2023, having obtained the necessary approvals from government authorities for reclamation and piling works and service re-routing during the third quarter of 2021.
The reclamation and service routing contracts, which is being implemented over a 7 to 9 month period, are valued at 8 million dinars ($21 million).
Phase II of The Avenues - Bahrain will add a leasable area of approximately 40,000 sqm, and include 218 stores and restaurants, two entertainment zones, a supermarket, and a basement car park with 1,330 parking spaces, the statement said.
The combined gross leasable area of Phases 1 and II will be approximately 77,500 sqm, it added.
The statement also noted that the project would expand the public promenade by an additional 600 metres west along the waters of Bahrain Bay, giving the mall a sea-facing frontage that extends for a total length of approximately 1.3 kilometres.
The 192-key Hilton Garden Inn-Bahrain Bay hotel, which opened in July 2021, is connected directly to The Avenues – Bahrain.
In April 2021, Zawya Projects had reported that design work for The Avenues Sharjah mall, located in the Mughaider area, is expected to be completed in the second quarter of 2021.
(Writing by SA Kader; Editing by Anoop Menon)
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2021