Kuwait Real Estate News
Tamdeen Group unveils $700mn waterfront resort-style apartment project
Leading mixed-use real estate developer, Tamdeen Group has unveiled plans to develop a waterfront resort-style apartment project, spanning 350,000 sqm worth $700million in Kuwait.
The Al Khiran development is located at the heart of Sabah Al Ahmed Sea City, and eventually is likely to create major opportunities for tourism and business growth in Kuwait.
Being a one-of-a-kind development, the project will include one of the first high-end Outlet Mall in Kuwait, apart from two high-rise residential towers, a furnished apartment tower, a marina with capacity to house more than 900 boats, the biggest in Kuwait, and a 5-star resort style hotel with international spa component.
The Chairman, Mohammed Jassim Khalid Al Marzouq, who spoke during the launch said that the new found co-operation between government and parliament has given more confidence to further invest in Kuwait, and projects worth $2billion are already underway.
Kuwait has the highest per capita income, worth about $48,260, which implies that the country is well-placed to drive growth across various retail segments. Further, the economy in Kuwait is one of the strongest in the region, and with majority of the population in Kuwait falling under the 20 to 39 years age group, household spending on international brands within the retail sector is on the rise. Al Khiran offers value not only in terms of shopping, but in overall customer experience, said Al Marzouq.
The Tamdeen Group is developing major shopping centres and mixed-use properties over the past two decades. It has also built the iconic 360 Mall and the Al Kout waterfront project, both of which have become important symbols of Kuwait.
These destinations are unique due to their unique architecture, and Al Khiran contributes to this in its own unique way. Further, the development is hoped to attract people from three large neighbouring destinations, forming a new destination by itself, he said.
The Outlet Mall, spanning 75,000sqm located in Al Khiran will be a blend of luxury and premium brands. The indoor streets will be covered by continuous skylights to provide natural light. Designed by lead international architects RTKL, the mall will have unique resort-style architecture, to incorporate traditional Arabic motifs. The mall’s façade will add to its identity, offering a sustainable solution that filters light and provides shade.
The covered arcade will showcase the retail elements and offer comfortable seating for various restaurants. The mall and the marina will be separated by a massive promenade covered with palms.
The project also offers terraced seating for the dining pleasure of customers and the Al Khiran Park, will be located at the centre of the development, offering varied vegetation and open air attractions for children and huge performance spaces. This will create a powerful magnet for all in Kuwait.
Al Khiran will be the entertainment and commercial cornerstone of the new community at Sabah Al Ahmed Seat City and the residences offer a resort-style, home-away-from-home for the discerning Kuwaiti with access to finest leisure amenities, beach front and private swimming pools.
Further, the five-star hotel and international spa will attract both tourists and Kuwaiti residents.
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