Riyadh - Mubasher: Shomoul Holding, a subsidiary of Mabanee Company, has signed a $150 million agreement with Alshaya Group to open 100 stores at The Avenues in Riyadh.

Covering over 50,000 square meters, the project will feature 70 global brands and create 2,500 jobs for Saudi nationals, according to a press release.

The Avenues, which will be one of the MENA region’s largest shopping and leisure destinations, is scheduled to open in the first quarter (Q1) of 2027.

Waleed Alsharian, CEO of Shomoul Holding, said: “The addition of these prestigious brands from Alshaya Group will further elevate the visitor experience at one of the most anticipated shopping and entertainment hubs in Saudi Arabia and the wider region.”

Last year, Alshaya Group partnered with DreamWorks to launch the Middle East’s first DreamPlay, set to open at The Avenue and boost family leisure.