•    Lease and investment contract signed with HRH Prince Mohammed bin Fahd bin Abdulaziz Al-Saud, for 300,000 sqm of land

•    Jawharat Al-Khobar Mall is the company’s third destination of its kind, with Riyadh and Jeddah locations already underway

•    The Jawharat malls offer unique lifestyle destinations bringing together luxury retail, dining and extensive entertainment offerings in brand new concept for the Kingdom

 
Riyadh, Saudi Arabia. 21 July 2022: Arabian Centres Company, the largest owner, developer and operator of contemporary lifestyle centres in Saudi Arabia, has announced the launch of its latest lifestyle development, Jawharat Al-Khobar Mall.

The company signed a lease and investment contract with HRH Prince Mohammed bin Fahd bin Abdulaziz Al-Saud, for an area of around 300,000 sqm, located north of Al-Khobar city in Al-Kurnaish district. The SAR 51.5 million annual lease agreement will see the ~SAR 1 billion development of Jawharat Al-Khobar Mall, the third lifestyle destination to be launched by Arabian Centres, complementing its two existing Jawharat locations in Riyadh and Jeddah.

Mohamad Mourad, Managing Director, Arabian Centres, said: “The development of our Jawharat locations is a core pillar of our strategic growth. We extend our gratitude to His Highness for working with us to provide an excellent location upon which this on this milestone project will be developed. 

“We continue to create integrated lifestyle destinations that align with the Kingdom’s Vision 2030, aiming to continuously improve standards and quality of living for residents Jawharat Al-Khobar will offer a completely new retail and lifestyle experience to those living in the area. We are providing access to world-class facilities, brands and entertainment that have never been available so conveniently before.”

Located on Al-Kurnaish beach in Al-Khobar city, the Mall has a unique view of the Arabian Gulf. Expected to open before the end of 2026, the Mall offers a fully immersive lifestyle destination, bringing together luxury retail brands, a broad range of dining concepts and vast entertainment offerings, including cinemas and arcades. It will also house some of the world's leading and most coveted fashion brands, host both closed and open spaces, landscaped green areas, an artificial lake, and a walkway the sites will bring a truly unique visitor experience to Al-Khobar and to the Kingdom. The development will also be used for mixed-use facilities.

Jawharat Al-Khobar is the eighth addition to the company’s development pipeline, its sixth location in the Eastern Province, and the 30th its overall portfolio of existing malls and pipeline.