The deal also involves leasing 12 Airbus planes, seven A320 and five A330-200 jets. KAC insisted that all the planes, including the leased ones, are brand new and not used. Delivery of the leased planes is scheduled to start after one year while the delivery of the purchased aircraft will start in 2019 and end in 2022. KAC declined to reveal the value of the deal, citing confidentiality clauses in the MoU. A final contract is scheduled to be signed next month, the carrier, undergoing privatization, said.
The Avenues offers a range of renowned brands, restaurants and entertainment centers spread over a leasable area of 270,000 sq-mt. It houses over 800 retail units and a multi-level parking lot with a capacity of 10,000 vehicles.
The Avenues is home to well-known international and local brands located in seven districts to include: “1st Avenue”, “2nd Avenue”, “Grand Avenue”, “Prestige”, “SoKu”, “The Mall” and “The Souk”. “1st Avenue” was inaugurated in 2007 and holds more than 200 stores and elite restaurants and cafÈs. The “2nd Avenue” was inaugurated in 2008 and has more than 200 stores of high and middle range brands, as well as many international restaurants and cafÈs. It also has several entertainment centers under its roof. As for the “Grand Avenue” — one of The Avenuesnew districts — it offers its visitors a unique experience of walking through a shopping boulevard. The boulevard extends 500 meters and is 22 meters wide. “Grand Avenue” hosts some of the world’s most famous brands, some in the Middle East for the first time. It is also home to fine restaurants and cafÈs, as well as the Galleria corner of the district. “Prestige” is considered the largest collection of luxury brands, adding a new dimension to luxury shopping. At “Prestige”, elegance and grandeur come together to offer elite brand names, restaurants and cafÈs.