LOC17:46
14:46 GMT
KUWAIT, Oct 30 (KUNA) -- Kuwait's Mabanee Company said Tuesday its recent
real-estate venture, the Avenues mall, will compete for an ward at France's
MAPIC exhibition to take place during November 14-16 in the city of Cannes.
In a press statement, Mabanee's General-Manager Khalid bin Salama said his
company's participation was motivated by the Avenues' nomination for a
prestigious award.
Inaugurated last February, the Avenues is Kuwait's largest mall with a
total cost of USD 2 billion, not to mention it is one of the region's biggest
retail centers with over 200 stores, he noted.
The mall's second phase, to end by March of 2008, will include a business
center, four-star hotels, a convention center, as well as a theatre, explained
Bin Salama who said there were two extra phases that will be finalized during
2010.
MAPIC will include the participation of over 2000 individuals from 67
nations.
Established in 1964 with a paid-up capital of 30 million Kuwaiti Dinars
(KD), Mabanee is a Kuwait Shareholder Company that was listed in Kuwait Stock
Exchange during 1999.
One KD equals USD 3.6.(end)
hq.aa.ayh
KUNA 301746 Oct 07NNNN