Mabanee Company, Kuwait’s premier real estate investment and construction company, is all set for its maiden participation at the international retail real estate event MAPIC in Cannes, France, with its iconic Avenues Mall being nominated for the prestigious MAPIC Awards.
At the leading industry event, Mabanee will present to the international retail real estate community, the company’s innovative approach to project development as demonstrated by The Avenues. The US$2 billion mega project which was launched in February 2007, has the distinction of being the largest mall in Kuwait and a landmark in the regional retail scene. It is already a popular destination with its array of high profile international brands and a variety of entertainment and recreational facilities.
“With the Avenues Mall now firmly established as a premier shopping and leisure destination, MAPIC is the perfect occasion for us to present to the world our accomplishment in project development, strategic approach towards malls as destinations and our success in attracting top regional and international brands, “said Khaled K. Bin Salama, General Manager of Mabanee Company.
“With a premier world class project such as The Avenues Mall to our credit, we look forward to MAPIC to explore business opportunities that will help us pursue similar large scale projects in local and international arena, in the future. We are also on the constant look out for fresh, exciting retail brands to join our growing portfolio.”
The second phase of the Avenues Mall, set for completion in March 2008, will feature a state-of-art business centre, four star hotels, convention center and a theatre. This will closely be followed by two more phases, with the mall reaching completion by 2010.
“We are excited that the Avenues Mall is in the run for the esteemed MAPIC Awards under the newly introduced shopping malls category. In fact, it is the only mall nominated from GCC, competing with 18 other malls from Europe. This is a tribute to the international stature the mall has achieved in a short period of time,” he added.
The MAPIC Awards will be decided by a jury composed of 7 distinguished members from the industry, presided by Sharon Fernandez Cavada King, Director of Retail Department, DTZ Asesores Inmobiliarios Internacionales (Spain).
Mabanee Company will be present at booth number R37.17 at MAPIC 2007. The event which will be held at Palais des Festivals in Cannes, France, will run from November 14-16 and expects participation by over 67 countries, more than 1900 retailers and almost 900 exhibitors.
