Bahraini Crown Prince Salman bin Hamad Al Khalifa inaugurated Saturday Bahrain's newest shopping landmark, The Avenues mall.
Speaking at the ceremony, the Crown Prince emphasized Bahrain's commitment to advancing its key economic sectors and bolstering regional competitiveness. He also noted that developing Bahrain's core economic sectors is a key pillar of the Kingdom's sustainable development program.The Crown Prince touched upon the positive impact the retail sector has on economic growth and stressed that Bahrain recognizes the important role the sector plays in private sector job creation.He pointed out that the retail sector makes up to 25 percent of Bahraini private sector employment.
The Crown Prince praised the unique architectural design of the new shopping and leisure complex, stressing that Bahrain will continue to improve its regulatory framework to encourage investment in world-class entertainment and lifestyle projects. He went on to say that Bahrain's strategic location and long-established regulatory framework has repeatedly attracted large-scale projects for the benefit of all, and will continue to do so into the future. He added that work must continue at the same pace to cement the Kingdom's international and regional standing.
For his part, Chairman of the Board of Bahrain edifices company Mohammad Al-Shayaa said that the inauguration of the Avenues outside Kuwait comes as a part of an expansion plan to build branches in several regional countries.
Al-Shayaa, a Kuwaiti businessman, said that Bahrain has created a business environment attractive to investments as a part of its ambitious economic vision.
He added that the decision to build the Avenues was taken after the great success it achieved in Kuwait where the splendid shopping mall became a tourist destination that lures millions of visitors every year.
The Avenues-Bahrain is the first shopping and leisure destination of its kind in the Kingdom of Bahrain, with a unique seafront location stretching 1.5 km. strategically located in the heart of Manama, on King Faisal Road. The development brings a new concept to the Kingdom, with a design inspired by The Avenues-Kuwait that gives the visitors an outdoor feeling while remaining indoors, protected from the heat by a ceiling that allows sunlight in.
The project's leasing space is around 40,000 m² includes 130 stores, 50% are allocated for restaurants and cafes which will overlook Bahrain Bay. It also includes a large family entertainment area such as a special play hall, 12 cinemas, public parks, walkways and parking spaces.
Official approval has been obtained for the construction of Phase II of the project. This will add another 30,000 m² in leasing space, as well as new districts and a hotel with 210 rooms. This will make The Avenues - Bahrain an attractive destination for citizens, as well as for tourists from the GCC and other countries who come for shopping, leisure and a good stay.