First introduced to the retail real-estate industry at the Retail Congress MENA 2019 in Dubai, annually organized by the Middle East Council for Shopping Centers and Retailers.
Combining great value with dynamic experiences, Al Khiran Hybrid Outlet will be the mall format of the future
UAE, 26 October 2019:Tamdeen Group, Kuwait’s leading mixed-use property developer, through its subsidiary Tamdeen Pearl,launches Al Khiran: the region’s first hybrid outlet, leisure and lifestyle destination. The hybrid outlet concept comes as a direct response to heightened shoppers’ expectations who have come to demand an all-inclusive experience. Al Khiran Hybrid Outlet Mall will combine great value with dynamic experiences through a mix of premium outlet shopping, unique dining options, cutting-edge entertainment, large format events, exhibitions and recreational leisure experiences.
The Hybrid Outlet Mall will be first introduced to the retail real-estate industry at the Retail Congress MENA 2019 in Dubai, annuallyorganized by the Middle East Council for Shopping Centers and Retailers.
Al Khiran Hybrid Outlet Mall spreads across 350,000 m2in the heart of Sabah Al Ahmad Sea City at 70,000 m2 of GLA boasting many special features that will set the project apart and position it as the mall format of the future. The project will present customers with a spectacle in design and offering as it ensures that the demands of today’s customers are satisfied through a value offering of over 300 stores, vast dining options and major experience-based components like AI and tech-themed entertainment. The project is further complimented with recreational components likeKuwait’s largest marina with 900 berths,1.25 km of beautifully landscaped park and boardwalk, the Water Gardens with their captivating water features and an active amphitheatre holding a year-long program of events. 3,700 parking spaces will also offercustomer’s increased ease and accessibility. All of this and much more will allow Al Khiran Hybrid Outlet Mall to offer experiences for the whole day and the whole family.
Located in the South Kuwait, the project will benefit from the country’s stable economy with a GDP of $142 billion that serves a population of over 4.6 million people of which 70% youth.A total retail expenditure of $33.3 billion growing at 7.8% is expected to reach $52.2 billion in 2025, which is encouraging for retail real-estate development.
The South of Kuwait is currently undergoing rapid development with 4 major cities nearing completion and residents beginning to populate these areas. The total housing units in these cities would cross 100,000, serving a significant resident population. This rapid infrastructure development and urbanization, in addition to its adjacency to the markets of the Eastern Saudi provinces is making the South of Kuwait an ideal location for retail real-estate development.
Al Khiran Hybrid Outlet Mall will serve a catchment area that services most of Kuwait, the Eastern Saudi provinces and a robust Saudi tourist market. A total population base in the catchment area is estimated to be 4 million, which is complimented by an additional inflow of 2.5 million Saudi tourists arriving by near road.
Mohammad Jassim Al Marzouq, Chairman of Tamdeen Group stated “Tamdeen Group is proud to be launching the first hybrid outlet concept in the region, which aims to satisfy a changing customer and growing demand for great value and heightened experiences. Our conviction in this project stems from a thorough understanding of customers’ expectations and behaviours in Kuwait along with a deep-rooted purpose of setting new benchmarks in the country’s retail real-estate industry. Kuwait’s 2035 Vision and,as part of it, the rigorous development in its South have furthered our role in the private sector of strengthening the position of Kuwait as a regional destination for shopping, entertainment and leisure.”
Tamdeen Group has consistently delivered exceptional results across several businesses including real-estate. Today, the Group is managing and developing over 5 million sq.ft. of space across regional, community, lifestyle, neighborhood and mixed-use centres. With its diverse range of projects and ongoing investments,Tamdeen Group is continuously re-emphasizing its commitment to contribute to Kuwait’s economic development.