Tamdeen Group on Tuesday launched Al-Khiran project to be built at the center of a wider 6.4-million-square-meter Sabah Al Ahmad Sea City.
Valued at USD 700 million (KD 208 million), the resort-style project, which will be spread across 350,000 square meters, will eventually create significant opportunities for Kuwait's tourism and business growth, Tamdeen chairman Mohammed Jassim Khalid Al-Marzouq told the launch ceremony. The project is scheduled to be completed by 2018.
A one-of-a-kind development, the project will include Kuwait's first high-end Outlet Mall, two residential towers, one furnished apartment tower, a five-star resort hotel and a leading international spa, he added.
According to Al-Marzouq, the 75,000 square meters luxury Outlet Mall within Khiran will have state-of-the-art entertainment and F&B components that will extend through the full length of the adjacent marina which will house around 900 boats making it the biggest marina in Kuwait.
Kuwait's economy is among the strongest in the region and in a country where 45 percent of the population is in the 20-39 years age range, household spending on international brands within the retail sector is on the rise," he said.
"This is where Al-Khiran will offer value not just in terms of shopping but an overall customer experience," Al-Marzouq told the event.
In fact, Tamdeen Group is committed to investing in Kuwait's future into various projects until 2020, including Al Khiran project, he said.