Saudi Arabia is emerging as the fastest-growing tourism destination in the GCC, and The Avenues — Riyadh is set to be a landmark addition to the Kingdom’s megaprojects
This SR17.2 billion ($4.58 billion) development, expected to open in early 2026, is a collaboration between Shomoul Holding Company and the regional architecture and engineering firm Pace. Located in the northern region of Riyadh at the intersection of King Salman Road and King Fahd Road, the project has reached 44.5% completion since breaking ground in early 2022.
The Avenues — Riyadh will cover 390,000 square meters, with a total built-up area of 1,870,000 square meters. The mixed-use development will include three hotel towers—Waldorf Astoria, Canopy by Hilton, and Conrad Hotel—a residential tower, an office tower, and parking for over 14,000 vehicles. Additionally, it will feature one of the Middle East’s largest commercial malls, with a gross leasable area of around 370,000 square meters, and is expected to create over 20,000 jobs for Saudi nationals.
Construction is progressing steadily, with key achievements including 9.29% completion of external road improvements and 90.62% progress on the district cooling plant. The project has already employed 13,000 workers and surpassed the milestone of pouring over 1 million cubic meters of concrete. This pace reflects the commitment to timely completion, with the workforce operating around the clock in three shifts.
The Avenues will be divided into nine distinct districts, each offering unique experiences. Grand Avenue will serve as the central artery, while Prestige will showcase luxury brands in a lavish setting. The Souk will capture the essence of traditional marketplaces, and The Mall will be a hub for fashion, food, and entertainment. The Grand Plaza district will anchor the development with its impressive four-level tower and rooftop café, blending modern design with cultural elements that align with Saudi Arabia’s Vision 2030.
