Real Estate

The Al Kout mall ... a rendition.

The Al Kout mall ... a rendition.

News in brief

March 2016

Haute Kout-ure in Kuwait

Kuwait’s largest waterfront mixed-use destination is on schedule to formally open in the fourth quarter of 2017, according to Tamdeen Group, a leading Kuwaiti property developer.

The Al Kout mixed-use waterfront development will occupy a massive 300,000 sq m of area and in its entirety, will be a single but multi-faceted destination offering retail, lifestyle and leisure experiences.

“The new Al Kout in southern Kuwait is set to become an Arabian landmark through its fusion of traditional architecture and modern contemporary design,” says Mohammed Jassim Khalid Al Marzouq, chairman, Tamdeen Group.

The development of Al Kout is being carried out by a Tamdeen Group subsidiary company.

A major component of the project is the replacement of Al Manshar Mall and four residential towers, with the new Al Kout Mall being built at a cost of KD70 million ($234 million). The expansion of the mall will offer additional retail space, making Al Kout the largest shopping centre in southern Kuwait with over 100,000 sq m of retail leasable area. It will have a multi-storey car-park to accommodate 3,600 cars.

“Construction is well under way and we are building the mall to the highest specifications,” says Ahmed Al Sarawi, CEO of Tamdeen Shopping Centres.

Anchor tenants will move into the mall in 2017 to start their fit-out to complete the works by the mall opening date. The remaining tenants will move in once the mall is ready. The mall will be managed and operated by GLA, a mall-management firm.

The new retail component will have outlets, restaurants, cafes, a food court, a gym and spa. The new mall will be linked by a signature bridge to Suq Al Kout.


Al Bareh ... sales on.

Al Bareh ... sales on.

Diyar Al Muharraq launches Al Bareh Phase Two

Diyar Al Muharraq has launched sales for the freehold second phase of Al Bareh, the latest seafront development within its master-planned project off the coast of Muharraq island in Bahrain.

This comes after a successful first phase sale last December, which saw a complete sellout of residential plots.

Dr Maher Al Shaer, CEO of Diyar Al Muharraq, says: “After witnessing the success of Al Bareh’s first phase, we are indeed proud to be launching the second phase, which is expected to be met with high interest. Through Al Bareh, with its unique seafront view, we set out to provide the highest standards in both quality and services to meet the needs of both residents and visitors alike.”

He adds plots in Al Bareh are being offered for sale on a free-hold basis to all nationalities, where owners are entitled to build their homes in accordance to their own preferences, in line with the standards set in advance by Diyar Al Muharraq.

Al Bareh is a seafront development that wholly embraces the elements of nature in a seamless blend. The development comprises seafront residential plots dedicated to encompassing high-end villas that are easily accessible both by sea and road; residential plots within walking distance to waterfront parks in the heart of Al Bareh; and residential investment plots overlooking the main road designated for the construction of multistorey buildings.

Al Bareh will feature myriad parklands and adequate greenery and communities centres.

Diyar Al Muharraq is a masterplanned city off the northern shores of Muharraq.


Serena ... overview.

Serena ... overview.

Serena comes to Dubailand

Soon after having unveiled the masterplan for Serena, Dubai Properties Group (DPG) reports that Phase One of its latest residential development at Dubailand was completely sold out right on launch day.

“Targeting the affordable housing segment, Serena is being offered at exceptionally competitive prices. The flexible three-year payment plan made the purchase accessible to families and investors wishing to own homes in Dubai,” says Marwan Al Kindi, executive director of sales and sales operations, DPG.

Serena spans an 8.2-million-sq-ft area, and is a smartly designed residential community featuring Spanish Mediterranean-inspired architecture.

The project will be developed in five phases, with Bella Casa, Phase One, anticipated to be completed by Q3 2019. It will be built in clusters of four to six units. Phase One consists of two- to three-bedroom townhouses and three-bedroom semi-detached villas.

The unique design encourages a neighbourhood spirit, and enhances the lifestyle of its residents with outdoor activities, making it an ideal location for families looking for a lively residential destination with a communal feel. Serena’s variety of amenities comprise recreational facilities, swimming pools, gym, play areas, and a healthcare facility. It will have  approximately 100,000 sq ft of leasable retail spaces, offering residents significant choices of retail options that serve their daily needs.

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