The shopping and entertainment experience at The Avenues will be complete with the completion of Phase IV, which is expected to be inaugurated in Q1 of 2018. Phase IV will include expansions of existing districts that have been highly popular with visitors, including Prestige, Grand Avenue and The Souk. New districts with modern and diverse concepts will also be included to build on the shopping and entertainment experience. The new districts include The Arcades, The Grand Plaza, The Forum, The Gardens, Electra and The Cinema, as well as a five-star hotel and another four-star hotel. Phase IV will be built over an area of 117,000 sq.m., with a total leasable area of 95,000 sq.m., at a total cost of KD 265 million (approximately US$ 900 million). This will bring the total cost of The Avenues project to KD 600 million (approximately US$ 2billion).
A project as immense as The Avenues makes a noticeable impact on the Kuwaiti economy. In terms of tourism, the number of visitors from the Gulf States is constantly on the rise. The project also provides jobs to more than 20,000 people working in more than 800 stories. This number is expected to rise to 30,000 employees with the opening of Phase IV, which will host approximately 400 stores, bringing the total at The Avenues over 1200 units.
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