There’s a beautiful development happening along the Fahaheel coastline, and when we came to further investigate the project, we learned about the true meaning of the local term, Yaal, the water’s edge. Developed by the prestigious A’ayan Real Estate Company, Yaal Mall & Tower pays a beautiful tribute to the local area of Fahaheel, its residents and its neighboring patrons.
In order for Yaal Mall & Tower to reach its full potential, A’ayan partnered with the full service property management company PIMCO, established by the renowned Mudon Al Ahlia Real Estate. We interviewed the CEO of A’ayan Real Estate Company, Mr. Ibrahim Al-Awadhi, to learn more about the project’s details.
Hi Mr. Ibrahim! Please introduce yourself to our readers.
I currently work as the CEO of A’ayan Real Estate Company, a public shareholding company listed in the Kuwait Stock Exchange with a total paid up capital of KD 41.5 million. I am also the Chairman of Inshaa Holding Company that is specialized in construction materials and a board member in both Anan Real Estate Financing Company and Hajar Tower Real Estate Company. I previously worked as the CEO of Abyaar Qatar Real Estate Company, Chairman and Managing Director of Pack N Move Holding Company and in the Real Estate Department in Al-Madar Finance and Investment Company. I completed a Bachelor’s Degree in Civil Engineering and Master’s Degree in Business Administration.
Can you tell us about the latest Yaal Mall development? How would you best describe Yaal Mall for first-time visitors?
Strategically located on Al Dabbous Street in Fahaheel, Yaal Mall & Tower is a mixed-use development constructed over a 7183 m2 plot of prime real estate. This development is poised to become a landmark in the most vibrant and important commercial hub in the area, as Yaal is comprised of a lifestyle shopping mall and prominent state-of-the-art office tower lending the project a distinct identity and universal appeal. It also features mid-level landscaped terrace restaurants that serve as a discrete and calm haven from the busy retail floors below and bustle of the neighborhood.
Yaal Mall & Tower contains 24 floors, with four levels of dedicated retail, a restaurant floor, and 13 stories of premium office space in addition to six levels of parking that can accommodate more than 445 cars. The Shopping Mall GLA consists of approximately 15,000 m2 of premium retail space with more than 100 units.
Can you tell us more about your company’s decision to sign PIMCO as the main leasing agent for Yaal Mall project?
After meeting with several leasing companies we found that the Property Integrated Management Company also known as PIMCO to be the most professional in their field of business. We found that PIMCO’s vision compliments what we wish to accomplish, especially with regards to their views in terms of creating innovative and creative property management solutions to reflect the changing modern world needs. We trust that PIMCO will deliver the highest quality of service and will successfully lease out the spaces at Yaal Mall to the best retailers in the region that will accommodate the needs of the consumers.
Why was PIMCO chosen as opposed to its competitors? How will PIMCO better serve the goals of the Yaal Mall development?
PIMCO is constantly evolving to meet their clients’ demands. Their ambition definitely separates them from their competitors, as PIMCO aims to be further recognized in the GCC and North Africa region for their reputable work on, and professionalism in managing every aspect of every property on hand to the smallest detail. Whether the property is in the retail, commercial or even residential market, PIMCO will tailor their services to suit the project’s demand. This perfectly fits with ’s wishes for Yaal. Since maximum optimization is the goal of PIMCO, they effectively accomplish this by providing the best services at the best prices. The company aims to satisfy its clients and tenants by protecting their investments, increasing the value, and the revenue of their assets. This is well expressed by the company motto of “Profitability, Quality, and Savings”, which will serve the customers. We have the utmost faith in PIMCO to meet our goals and standards for Yaal Mall & Tower.
How will Yaal Mall change the commercial and residential dynamics of the Al-Fahaheel area?
The Yaal Mall & Tower project is leading the efforts for re-development of the central commercial district in Fahaheel. It is the first mixed-use complex designed and constructed as Class A in the area. The aim is to serve the dwellers of Fahaheel and surrounding suburbs, whether businessmen or shoppers, and particularly the targeted segment of ladies, children and family shopping. As for the location of the project and its components, it is a result of a market study that pointed to the fact that the traditional commercial heart of Fahaheel remains underdeveloped despite its historical significance and vital location amidst many commercial and residential areas. The project offers high quality rental areas for shopping and office spaces in an integrated environment with the various complementary components. In doing so, this provides the customer with added value and the project serves an area that forms a central focal point for the rapid expansion of residential areas towards the south of Kuwait, as well as being one of the closest urban areas to many industrial zones. The oil sector in particular is expected to experience a large expansion in projects and will require modern well-appointed office spaces to manage and oversee those projects from within a location that’s in close proximity and accessibility from major highways. All of the aforementioned features constitute a very positive outlook for the future and the success of the project.
Can you tell us about the inspiration behind the design of the building?
The name of the project and the design concept are both inspired by the Arabic word Yaal. Derived from the local dialect, Yaal means the water’s edge. This idea or thought permeates subtly throughout the development where details, materials, color and design features combine to create a contemporary, beautiful retail environment. Yaal is inspired by the water’s edge, and every design aspect exemplifies this meaning.
In order for us to arrive at a final design, we formed a team of highly qualified professional architects, consultants and contractor to guarantee the highest design and construction standards. The project reflects modernity in every aspect of its elegant design and fine detailing inspired by the sea and shoreline. Architecture, interiors, lighting, and planned pathways, all arrive as a result of a collaborative effort between an alliance of RTKL/ UK, Scott Lighting/ Germany and SSHI/ Kuwait. Execution supervision is the responsibility of Al-Jazeera Consultants/ Kuwait.
Finally, how is Yaal Mall positioned to compete with other mall developments in Kuwait?
Yaal Mall is positioned to appeal to an upwardly mobile target group for mid to upper-mid segment shoppers with a primary focus on retail categories and brands catering to women and children and family-centric shopping. It also targets patrons of a diverse mix of businesses and leisure options including but not limited to: Indoor Family Entertainment/Edutainment Center, Department Store, New Fashion brands not represented in Fahaheel, Fashion & Related Accessories, Cosmetics & Perfumes, Jewelers & Watches, Shoes & Bags, Home Accessories/Furnishing, Fine & Casual Dining Restaurants, Leisure & Entertainment, Sports Wear, Gifts & Toys, Health & Fitness, Spa and beauty care.
A’ayan Real Estate endeavors to offer a unique experience to the tenants and visitors of Yaal Mall, and has provided a host of features and facilities in the project; including dedicated prayer halls and ablution rooms, child care rooms, smart building services including security, CCTV circuits, entrance control systems for the mall and the tower, telecommunications and information, fire alarm and safety systems. The mall will also be provided with an Information desk and client services office, and valet parking. The project will also contain a dedicated VIP parking floor for tenants.
For more information about Yaal Mall & Tower, please call 2205 6116, or email the leasing department [email protected] or [email protected]. Visit www.yaalmall.com and www.pimco-kw.com to stay updated about the project’s latest developments.