Tamdeen Group and MH Alshaya Company sign major leasing deal 22 stores to open in new Al-Kout Mall
Tamdeen Group - Kuwait’s leading mixeduse property developer - signed a leasing agreement with leading retail franchise operator MH Alshaya Co. to open 22 apparel, pharmacy, optical and restaurant stores in the new Al-Kout Mall which is part of Al-Kout, the largest mixed-use waterfront destination in Kuwait.
The agreement between MH Alshaya and GLA Management - a professional mall-management firm that is part of the Tamdeen Group - will offer mall visitors a selection of current favorites in MH Alshaya’s portfolio of stores, cafe and restaurant brands, as well as a number of new brands not yet introduced to the market. Alshaya’s 75 leading international brands offer shoppers a wide range of choices across fashion and footwear, food, health and beauty and optics brands.
Christian Wistrom, General Manager - Leasing, GLA Management, said: “We are delighted to partner with MH Alshaya Company who are recognized as retail experts in the region. The breadth of brands and quality of service they offer appeals to the diverse aspirations of Kuwaiti residents who are among some of the world’s most discerning shoppers. Al-Kout Mall will be fully leased ahead of the project completion date by yearend, and having MH Alshaya on board is an expression of investor confidence in the project’s potential.”
Under the deal, the 22 household name brands that will join Al-Kout Mall’s growing list of shops, cafes and restaurants, include: Victoria’s Secret, American Eagle Outfitters, Bath and Body Works, Boots, Claire’s, HandM, Justice, Mac, Next, PF Chang’s, Payless Shoe Source, Starbucks, The Body Shop, Top Shop, VaVaVoom, Vision Express, Mothercare and Foot Locker.
John Hadden, Senior Vice President - Retail Property, MH Alshaya Company, said: “We are very impressed with the vision of Al-Kout Mall and are confident that it will become a popular destination for residents and visitors to Kuwait. We are pleased to be working with Tamdeen Group once again to introduce some of our most popular brands to the mall and look forward to welcoming customers.”
The new Al-Kout Mall was designed according to the highest international standards of modern shopping center design that balances practical design with great experiences. The mall is part of AL-KOUT in the Ahmadi Governorate, the largest mixed-use waterfront development in Kuwait. The project reflects traditional architectural heritage blended with modern design featuring six different experiences across entertainment, shopping and hospitality in a destination spread over 300,000 square meters that visitors can walk through seamlessly between its different components. The Al-Kout Mall project is aligned with Tamdeen Group’s strategy of transforming the modern retail sector in the country whilst encouraging high impact retail entrepreneurs to contribute towards innovation in modern retail.