Mohammed Al-Marzouqi

The Avenues mall has been developed in multiple phases since 2007, growing into one of the largest malls in the Middle East with over 1,100 stores, restaurants, and entertainment venues across more than 1.1 million square meters of gross leasable area. The Avenues has become far more than a shopping mall — it serves as Kuwait's primary social and entertainment hub, attracting over 50 million visitors annually. The mall features distinct themed districts, luxury brand boutiques, dining destinations, cinemas, and family entertainment areas. Its success reflects the unique dynamics of Gulf retail: in Kuwait's extreme climate, air-conditioned malls serve as de facto public spaces and community gathering points. Mabanee has leveraged The Avenues' success to expand regionally, developing The Avenues - Bahrain and planning projects in Saudi Arabia. Key stock drivers include The Avenues occupancy rates and rental income, Kuwaiti consumer spending and retail sales, regional expansion execution, competition from other Kuwaiti malls, oil price impact on the Kuwaiti economy, and the overall health of Gulf region retail and tourism.