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FINANCIAL NEWS
Kuwaiti Tamdeen to build new mall at USD195m
02 Nov 2015
(MENAFN) Kuwait’s Tamdeen Group is well on its way to construct a huge new shopping destination beside a mall that’s already there, and it will be called Al Kout project, formerly known as ‘Madinat Al-Fahaheel’.
The project at a cost of USD195 million will create a massive 83,000 square meters of retail capacity across both properties when completed by 2017, and it’s worth mentioning that the old mall is called Souq Al Kout.
Moreover, the plan is to go full tilt with the creation of the new mall while taking up the renovation part at Souq Al Kout by mid-2016, because it will take less time to effect the changes planned for the older mall.
“It will be one of the biggest lifestyle destinations in southern Kuwait and a timely one since this is one Gulf market that is still under-served in quality retail space,” said a Board Member at Tamdeen Shopping Centers.
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