Al Andalus Property Company has announced through the Saudi Bourse (Tadawul) website the 99% completion of upcoming major Jeddah mall Al Jawhara Al Kubra ‘The Village’. The percentage represents 100% of structural and concrete works, 100% of electromechanical works, 100% of facade works, and 99% of interior finishing works, anticipating its operation by the 2nd quarter of 2023.
The Village mall, near King Abdullah Sports City’s Al Jawhara stadium, is set to be the biggest shopping destination in Jeddah, with over 132 stores in an area of 208,000 sq m in 3 levels, which also includes an adjoining five-star hotel that’s accessible through the mall. The latest estimate of the project’s value, inclusive of land, totalled $238.7mn (SAR895.3mn). The partially completed site was utilized during the Jeddah Season activities and events.
Early on, Al Jawhara Al Kubra Real Estate Development and Investment Co. was established to receive the title deed of the project’s land, allocating ownership accordingly. The partner owners and developers of the new mall are: Al Andalus Property, a leading company in the field of investment, development and operation of commercial income-generating properties throughout the Kingdom, focusing on retail and hospitality properties, with 25% ownership. Jarir Commercial Development Company, operating in real estate management, development, and investment, with 42% ownership. And Mohammad Al Habib Real Estate Investment Company, a family-owned and privately-held company that specialises in real estate investments and developments, owning 33% of Al Jawhara Al Kubra project.
For The Village mall, Mohammad Al Habib Real Estate Investment Company, playing a role in the construction of shopping landmarks Al Andalus Mall in Jeddah and Hayat Mall in Riyadh, carried out the project planning, real estate development, and property management. Architectural and engineering consultant Arch.Centre Consulting was called in for design review and site supervision works. Additionally, Zamil Steel, a Leading pre-engineered steel building manufacturer, was chosen to design, manufacture, and supply pre-engineered structural steel buildings, including custom-made sandwich panels for the project. The Tadawul post stated that the project’s delay was due to awaiting final approvals for the actual operation of the mall.