BD75 million Avenues expansion is on track
A MULTI-MILLION dinar expansion of a popular seafront mall, which will include a state-of-the-art ice rink, is on track with the facility set to be completed during the first half of next year.
The BD75 million Phase II expansion project of The Avenues Bahrain will see the mall extending further along the west of the seafront, adding 41,200sqm of leasable space. It will include 244 units, two entertainment areas and a supermarket, as well as a basement parking, bringing the total leasable area to approximately 80,000sqm.
Upon completion, the promenade will extend by 600m to the west along the waters of Bahrain Bay, making The Avenues Bahrain the largest waterfront shopping and entertainment destination with a total length of 1.3km.
The details were revealed by project developers Bareeq Al Retaj’s planning and development deputy chief Khalid Alhashimi at the Capital Trustees Board meeting.
The Avenues Company, a wholly-owned subsidiary of Al Sorouh Management Company, has appointed Nass Group as the main contractor for construction works of the phase II expansion project.
“Work is on track,” Mr Alhashimi told board members at the meeting. “In addition to the extension of the existing Grand Avenue, the project will include new sections such as The Forum, Grand Plaza, Electra and the Souk.”
Investors are also expected to spend BD5m developing the King Faisal Corniche and the surrounding road network, landscaping and green areas.
The GDN earlier reported that Avenues Bahrain had recorded above 95 per cent occupancy with high footfall figures in the first half of last year – an increase of more than 50pc in comparison with 2021.
Mr Alhashimi said there were more ideas for the expansion project and that negotiations were underway.
“Initially, the expansion was estimated to cost BD55m, however, now the expenses are expected to reach BD75m,” he said.
“We want to go further with more innovative ideas, but we cannot unless a flexible approach is adopted.
“Projects around us have to fund the development of the surrounding area, which we all share, as they also benefit from our contributions.
“We have already spent BD1m on rainwater diversion system for the seafront and are planning to spend BD5m on infrastructure, landscaping and green spaces for the area,” Mr Alhashimi added.
The government is expected to generate BD33m from the leased area over the contract’s duration.
Board member Dr Bashar Ahmadi stressed the need for ‘outstanding’ car parks so that visitors to the facility do not waste time going in loops to find a parking space.
Dr Ahmadi during the meeting
Mr Alhashimi told members that they were expecting to have 2,700 car parking spaces following the expansion.
Board financial, administrative and legislative committee chairman Mohammed Al Abbas said the expansion would enhance the appeal of the seafront project.
“This is a clear example of a successful merger between investment and municipal projects which will boost the country’s development,” he said.
“The Avenues Bahrain first opened seven years ago and hopefully with new attractions including the ice rink, the venue and the country would see more tourist activity.”
Mr Alhashimi
The GDN reported last month that Municipalities and Agriculture Minister Wael Al Mubarak visited the second phase of Avenues-Bahrain project and was briefed on its implementation stages.
Mr Al Mubarak had affirmed the government’s interest in promoting development projects, in partnership with the private sector, and providing advanced services and facilities for citizens and residents.
Source: https://www.gdnonline.com/Home/Details/1172329
