The right avenue

The Avenue has been designed to feel like an outdoor space inspired mainly by European shopping avenues.
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With volatile regional markets and a super-mall on every corner of the region, is Kuwait’s The Avenues a good idea, given the global economic mood?

The construction of Phase III of The Avenues, Kuwait’s largest shopping mall, is steadily progressing in the Al Rai district of Kuwait City.

At a time where most GCC states have experienced a slow down in construction activity, does yet another high-end, fantastic mall project seem viable?

Strangely, yes, seems to be the answer. A fortnight ago, when regional markets dived after Dubai World requested for a freeze on debt payments, Kuwait’s index made its largest one-day gain in four months, suggesting a strong economy, backed by ample sovereign funds and a wealth of untapped natural resources.

The National Bank of Kuwait and Kuwait Finance House added 3.8% and 1.9% respectively, and the country’s index climbed 1.3% to 6766 points.

The latest report by the Oxford Business Group also suggests that the country’s economy is strong and that its real estate market appears to be moving towards recovery, with falling interest rates and increasing confidence, which is helping to lift sales.

And the mall, according to officials working on the project, is definitely securing interest from leading international retail brands on the back of this increased confidence. The mall has been designed, in collaboration, by the London and Los Angeles offices of global architectural practice Gensler. Kuwait’s Mabanee is developing the project. Phase III of The Avenues will consist of more than 86,000m2 of retail space and is scheduled for completing in early 2012.

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Once complete, the third phase will house 545 retail units in total, including 52 food and beverage outlets.

“The Avenues is the region’s premier shopping, lifestyle and entertainment destination and Phase III will elevate this offering, positioning it as a world class retail shopping destination, said Chris Johnson, managing principal of Gensler London.

“Truly a retail evolution, The Avenues completely redefines the shopping experience for the consumer; it is as much about place making as it is retail design.

“The scheme takes reference from the great cityscapes and retail locations around the world. These cities emanate vibrancy, character and a diverse range of retail offerings and experiences – a philosophy that leads the Phase III design,” he added.

Located close to the centre of Kuwait City, The Avenues has set a benchmark for high quality retail in the region. Phase I of development opened in 2007 and houses more than 230 retail units. Phase II opened in 2008, offering over 200 higher-end shops, a large food court and outdoor dining venues.

As well as being appointed lead architects on the project, Gensler’s design teams are responsible for delivering the interior design.