A massive mixed-use project in the making in Kuwait


February 24, 2019 | By Rupkatha B

Owned by Kuwait-based Salhia Real Estate Company and developed by Assima Real Estate, a large mixed-use project in Kuwait City is in the making. The 4.09 million sqft Assima Project is scheduled for completion in February 2020. The project comprises the Assima Mall; the Assima Tower, featuring more than 150 offices; and the Assima Residence, a high-end executive hotel apartment.

RetailME brings an exclusive preview

Located in the heart of Kuwait City, the shopping mall within the Assima Project is expected to open by February 2020. A year away from opening, the Assima Mall with 775,000 sqft of net retail space, is already 62% leased. It went up by another 10% in February, according to Alnafisi. “The hotel – high-end executive apartments by Marriott with 164 keys – will be completed six months after the mall opens, followed by the office tower – with 645,835 sqft of net area spread across 56 floors – a year later,” reveals Ghazi F. Alnafisi, chairman of the Salhia Real Estate Company, during an exclusive interview with RetailME.

“We have not done any advertising, yet we have leased 62% of the mall. Big retail groups who have been our long-term partners have approached us to sign up for space. It will not surprise me if the shopping mall gets 100% leased by the time we open,” avers Alnafisi. “We have also been very strategic in tenant selection, ranging from mid-to-high.”

Food and beverage (F&B) will be a crucial category within the shopping mall, which will occupy almost 23% of the retail space. “We have allocated 32% of the mall space to leisure and entertainment. Anchor tenants will occupy prominent locations, while fashion concepts will be spread across three floors,” Alnafisi shares.

The article will be published in the March edition of RetailME

Comments

comments

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /



Locally-owned supermarket Spinneys and pharmacy retailer Aster Pharmacy have joined forces to 

Continue Reading

September 5, 2022 | By RetailME Bureau
The pandemic has undoubtedly affected us all

Majid Al Futtaim has announced its audit reviewed operational and financial results 

Continue Reading

August 24, 2022 | By RetailME Bureau

Dubai’s largest developer Emaar has announced that it will sell it’s online 

Continue Reading

August 22, 2022 | By RetailME Bureau

Walmart announced this week that it will offer Paramount Global’s streaming service 

Continue Reading

August 19, 2022 | By RetailME Bureau

Employee retention has been on every company’s minds, especially since the fears 

Continue Reading

August 16, 2022 | By Shruthi Nair

The Frozen Chicken’ as Spinneys was fondly referred to back in the 

Continue Reading

August 8, 2022 | By Shruthi Nair

Veppy.com, a Q-Commerce marketplace startup just announced their go live date in the 

Continue Reading

July 20, 2022 | By Justina Eitzinger

GMG, a global well-being company retailing, distributing, and manufacturing a portfolio of leading 

Continue Reading

July 19, 2022 | By Justina Eitzinger

Lulu Group International recently introduced the world’s first AI-powered Food Delivery Robot 

Continue Reading

May 9, 2022 | By Shruthi Nair

Eid Al-Fitr is an occasion to gather with your friends and family 

Continue Reading

April 29, 2022 | By Zubina Ahmed

Leading retailer LuLu Group further strengthened its presence in the Emirate of 

Continue Reading

April 28, 2022 | By RetailME Bureau

Jones the Grocer, the Australian gourmet grocer and café chain, announces further 

Continue Reading

April 28, 2022 | By RetailME Bureau




f
Download Images RetailME Magazine