JLL has been appointed as the sole exclusive leasing agent for Capital Avenue in Riyadh. Developed by First Avenue Real Estate Development, Capital Avenue is an 13-storey business address that is expected to be completed in Q1 2026. The development is expected to be a significant contributor to Riyadh’s growth as a global capital of innovation and opportunity, as outlined in Vision 2030.
Capital Avenue stands out for its tenant-centric design and amenities, reflecting First Avenue’s commitment to going above and beyond for its occupants. The development, spanning 16,515sqm of total office area, will feature a dedicated gym, an outdoor cinema, and over 2,000sqm of expansive communal landscaped gardens. Additionally, there are 2,374sqm of private on-floor terraces, said a statement from JLL.
Atallah Alamri, Chief Asset Management Officer of First Avenue for Real Estate Development said, “Capital Avenue is our vision brought to life – a workspace designed not just for efficiency, but for inspiration and holistic well-being. Our partnership with JLL, a trusted advisor, ensures that this pioneering project reaches the right tenants who share our ambition to shape Riyadh’s future business landscape. We are confident that Capital Avenue’s unparalleled amenities and strategic location will set a new benchmark for premium office environments and foster value creation through inspiring developments and rewarding investments.”
Complementing its modern Salmani architecture and intelligent design, Capital Avenue also includes a café/lounge, eight high-speed elevators, and 329 dedicated parking spaces. These features ensure excellent natural light, efficient floorplates, and seamless convenience for tenants, it added.
John Campbell, Landlord Leasing Advisory Director at JLL KSA stated, “Capital Avenue represents the next generation of office environments, meticulously designed to meet the evolving demands of Riyadh’s dynamic business landscape. Our role as First Avenue’s trusted advisor underscores the market’s confidence in this project. Its superior amenities, efficient floorplates, and unparalleled location, just five minutes from New Murabba, 19 minutes from KAFD, and 18 minutes from King Khalid International Airport, will attract top-tier tenants seeking a truly integrated and inspiring workspace that supports productivity and well-being. We are proud to partner with First Avenue to bring this pivotal development to market.”
Strategically situated on King Salman Road in Al Qirawan, northern Riyadh, Capital Avenue provides convenient access to the city’s business districts and major highways. JLL’s appointment to this significant project underscores its dedication to promoting innovation and facilitating strategic partnerships that shape the dynamic evolution of Riyadh’s commercial real estate landscape, contributing to the Kingdom’s broader economic diversification objectives, the statement concluded.
JLL appointed as sole exclusive leasing agent for Capital Avenue in Riyadh Middle East Construction News.
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