Mabanee

What Mabanee does

Mabanee Company KPSC (شركة المباني ش.م.ك.ع) is a publicly traded Kuwaiti real estate developer founded in 1999 and listed on Boursa Kuwait (ticker: MABANEE) as part of the Premier Market Index and MSCI Index, with a market capitalization of KD 1.504 billion (~USD 4.90 billion) as of December 2025. The company develops and operates large-scale mixed-use destinations across three GCC markets — Kuwait, Bahrain, and Saudi Arabia — anchored by its flagship "The Avenues" retail, entertainment, and lifestyle brand.

The Avenues - Kuwait is the company's core asset: a 1,300,000 sqm development with 12 themed districts and 1,100+ retail stores. The platform is being replicated regionally, with The Avenues - Bahrain (opened 2017) and two Saudi developments under construction or operation — The Avenues - Khobar (696,000 sqm) and The Avenues - Riyadh (1,800,000 sqm). Adjacent product lines include an integrated hospitality portfolio (Waldorf Astoria Kuwait, Hilton Garden Inn Kuwait as the brand's largest EMEA property at 385 keys, Hilton Garden Inn Bahrain, and the Plage-13 resort renovation), plus Aventura, a sustainable mixed-use community in Jaber Al-Ahmad City, and Souk Sabah, a KD 25 million retail center targeting LEED Gold.

Revenue is generated through three streams: recurring retail mall leasing across the tenant base, hotel operations through Hilton-managed properties, and one-time real estate development sales (such as the KWD 21.55M net profit on a Salmiya land sale in March 2025). Go-to-market relies on enterprise leasing relationships, formal application processes for tenants, and direct institutional partnerships — notably a consortium with National Industries Group and Privatization Holding Company for Aventura, a 17-year Hilton management agreement for Plage-13, and an $81.4 million green Islamic loan facility from National Bank of Kuwait for Souk Sabah. The company employs 251-500 staff across regional operating geographies, with headquarters at The Avenues in Kuwait City's Al Rai area.

Name

Mabanee

Legal name

Mabanee Company KPSC (شركة المباني ش.م.ك.ع)

Website

https://mabanee.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

251–500 employees

Short description

Mabanee is a Kuwaiti public real estate developer operating The Avenues, the largest retail destination in Kuwait, with mixed-use mall, hotel, and residential developments across Kuwait, Bahrain, and Saudi Arabia. The company generates revenue from retail leasing, hotel operations, and property sales to retail tenants, hotel guests, and residential investors.

Ownership category

akta.pro rank

Headquarters

HQ city

Safat

HQ country

Kuwait

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Personnel, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Retail Mall Leasing: Mabanee generates recurring revenue through leasing retail space to tenants in its shopping malls (The Avenues), with over 1,100 stores across its properties. Rental areas include traditional markets, shops, restaurants, cafes, cinema halls, and entertainment facilities.
2. Hotel Operations: The company operates and co-owns hotels including Waldorf Astoria Kuwait, Hilton Garden Inn Kuwait, and Hilton Garden Inn Bahrain, generating revenue through room bookings, food and beverage, and events. Hilton Garden Inn Kuwait is the brand's largest hotel in the EMEA region.
3. Real Estate Development and Sales: Mabanee develops mixed-use properties for sale and investment, including Aventura residential units (276 units including apartments and townhouses) and commercial spaces. The company achieved KWD 21.55 million net profit from Salmiya land sale.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Mabanee is a Kuwaiti real estate development company that develops, owns, and operates large-scale mixed-use destinations across Kuwait, Bahrain, and Saudi Arabia. Its core offerings include The Avenues shopping malls (Kuwait, Bahrain, Khobar, Riyadh), hotel properties operated under Hilton and Waldorf Astoria brands, and integrated community developments such as Aventura and Souk Sabah that combine retail, hospitality, residential, and entertainment components.

Product overview

Mabanee is a real estate development company that operates a platform of mixed-use destination projects across Kuwait, Bahrain, and Saudi Arabia. The core offering consists of The Avenues retail centers (Kuwait, Bahrain, Khobar, and Riyadh), complemented by hotel operations under the Hilton and Waldorf Astoria brands, and integrated community developments including Aventura and Souk Sabah. The portfolio spans shopping malls, hotels, residential units, and entertainment facilities, all managed under a unified development and operations model.

Differentiator

Problem solved

Functional benefit

Brands

• The Avenues (الأڤنيوز): The flagship retail, entertainment, and lifestyle development brand of Mabanee, with locations in Kuwait, Bahrain, Khobar, and Riyadh.
• Aventura (أڤنتورا)
• Souk Sabah (سوق صباح)
• Plage-13 (بلاج-13)

Products and services

• The Avenues - Kuwait The largest and most-visited retail, entertainment, and lifestyle development in Kuwait and the region, spanning 1,300,000 square meters with 12 themed districts and over 1,100 stores. Developed and managed by Mabanee, it serves shoppers, retail tenants, and entertainment seekers.
• The Avenues - Bahrain A retail destination in Manama, Bahrain, featuring architecture inspired by The Avenues - Kuwait. Serves as one of the most visited retail destinations in Bahrain for citizens, residents, tourists, and business professionals from the Gulf region.
• The Avenues - Khobar A retail development in Khobar City, Eastern Province of Saudi Arabia, with a total built-up area of 696,000 sqm, located at the intersection of King Saudi Road and Prince Sultan Road.

Quantifiable outcome

• The Avenues - Kuwait is the largest retail development in Kuwait and the region with 1,300,000 sqm built-up area and 1,100+ stores
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered core and major.

• Hilton WorldwidecoreStrategic or Co-development PartnerHilton Worldwide manages multiple Mabanee hotel properties including Waldorf Astoria Kuwait (opened August 2022), Hilton Garden Inn Kuwait (brand's largest in EMEA), Hilton Garden Inn Bahrain (opened 2021), and the upcoming Hampton Inn at Souk Sabah. A 17-year brand and management agreement was signed for Plage-13 resort.
• National Industries GroupmajorStrategic or Co-development PartnerNational Industries Group is part of the consortium led by Mabanee developing the Aventura sustainable community project in Jaber Al-Ahmad City, Kuwait, under the public-private partnership framework.
• Privatization Holding CompanymajorStrategic or Co-development PartnerPrivatization Holding Company joins Mabanee and National Industries Group in the consortium developing the Aventura project, selected as the winning investor for the Jaber Al-Ahmad City development.
• Touristic Enterprises Company (TEC)coreStrategic or Co-development PartnerTouristic Enterprises Company (TEC) is handing over the Plage-13 resort site to Mabanee for a 16-month renovation period followed by a 17-year investment period, with Hilton International managing the renovated property.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Arada: Sharjah-headquartered developer of master-planned communities (Aljada, Masaar) with retail and hospitality components. Comparable to Mabanee as a GCC mixed-use developer, albeit at a smaller scale and earlier stage.

Regional players

• Salhia Real Estate: Kuwaiti real estate investment and development company operating Salhia Complex and other commercial properties. Comparable to Mabanee as a Kuwait-based real estate operator with retail and commercial holdings.
• Barwa Real Estate: Qatar's largest real estate developer, focused on mixed-use and worker-city developments. Comparable to Mabanee as a GCC-listed developer with mixed-use portfolios, though concentrated in Qatar.
• Dar Al Arkan Real Estate Development: Saudi Arabia's largest listed real estate developer, focused on residential, commercial, and hospitality projects in KSA. Comparable to Mabanee as a Saudi-focused developer, though Mabanee's anchor is retail-led mixed-use.
• RAK Properties: Ras Al Khaimah-based real estate developer with mixed-use projects and hospitality components. Comparable to Mabanee as a smaller GCC-listed real estate developer with mixed-use exposure.
• National Real Estate Company (NREC): Kuwait-based real estate developer with GCC mixed-use projects (Reem Mall in Abu Dhabi, etc.). Comparable to Mabanee in operating from a Kuwait base with regional mall and mixed-use developments.

Direct peers

• Aldar Properties: Abu Dhabi's largest real estate developer, operating integrated communities, retail assets, and hotels. Comparable to Mabanee in developing and managing mixed-use destinations and master-planned communities in the GCC.
• DAMAC Properties: Dubai-based luxury real estate developer with branded residences and hotel partnerships. Comparable to Mabanee in developing premium residential and mixed-use projects, though with a heavier residential/tower focus.
• Majid Al Futtaim: UAE-based conglomerate operating major MENA shopping malls (Mall of the Emirates, City Centre malls) and hotels. Directly comparable to Mabanee as a regional mall operator and mixed-use developer with an outlet hospitality arm.
• Emaar Properties: Dubai-based real estate developer and operator of large mixed-use destinations including The Dubai Mall, Downtown Dubai, and Address hotels. Highly comparable to Mabanee in operating shopping malls, hotels, and residential units as integrated mixed-use destinations across MENA.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInkw.linkedin.com/company/mabanee-co-
• Instagraminstagram.com/mabaneeco/?hl=en

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries4 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mabanee