Kuwaiti developer Tamdeen Group has announced that its Al Kout waterfront project is on track to open in the fourth quarter of 2017.
The project, being developed by a subsidiary of Tamdeen Group, will reflect Kuwaiti architectural heritage when complete, the developer said in a statement. Upon completion of all phases, Al Kout will occupy 300,000sqm of area, making it Kuwait’s largest waterfront mixed-use destination.
A major component of the Al Kout project is the replacement of Al Manshar Mall and four residential towers with the new Al Kout Mall, built at a cost of KD 70 million ($234m).The expansion of the mall will make Al Kout the largest shopping centre in southern Kuwait, with over 100,000sqm of retail leasable area and a multi-storey car parking to accommodate 3,600 cars.
“Construction is well underway and we are building the mall to the highest specifications,” said Ahmed Al Sarawi, CEO of Tamdeen Shopping Centres.Anchor tenants will move in to the mall in 2017, as they start fit-out in order to complete the works by the mall opening date. The remaining tenants will move in once the mall is ready.
Leasing for the mall, which will be managed and operated by GLA Property Management, is ongoing. The mall is currently over 50% leased and committed for by tenants.The Al Kout Mall will be adjacent to the 200-suite Rotana Hotel, which will connect directly to the shops and restaurants within the new mall. Moreover, the shopping centre will be linked by a bridge to the Souq Al Kout.
The Al Kout project’s 1.6 km of seafront across Fahaheel Beach is now being renamed Sahel Al Kout, the developer said.The project also includes a traditional market, a supermarket, banks, entertainment venues, a fishing port, musical fountains, and a marina with facilities for over 150 boats.
“Al Kout will transform the Al-Fahaheel area into a vibrant social and economic centre. With projects worth $2 billion in the pipeline, the Tamdeen Group is truly developing significant symbols for Kuwait,” said Shavak Srivastava, board member of Tamdeen Shopping Centres.
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