· Full rebrand across Group, Arabian Centres Company and Fawaz Alhokair Fashion Retail Co, to leverage natural synergies and create a holistic lifestyle ecosystem
· Cenomi brings together the best brands and experiences to deliver a new era of immersive lifestyle moments in the kingdom
· Includes the launch of Cenomi Rewards – the company’s first loyalty program offering customized deals and discounts across participating brands and centers
· Cenomi also plans to launch a new ecommerce marketplace in 2023, offering an immersive end-to-end online retail experience through Cenomi.com
Riyadh, Saudi Arabia. 6 December 2022: Fawaz Alhokair Group, the region’s largest vertically integrated immersive retail and lifestyle company, together with Arabian Centres and Fawaz Alhokair Fashion Retail Co. has announced the launch of Cenomi. The full rebrand brings together all operating companies under the Cenomi brand, with Arabian Centres now trading as Cenomi Centers and Alhokair Fashion Retail Co. trading as Cenomi Retail.
In addition, Cenomi has also announced two further launches: the company’s first official loyalty program, Cenomi Rewards; and the announcement of its new ecommerce marketplace, Cenomi.com, coming in 2023.
Fawaz Alhokair, Chairman, Cenomi Group, said: “This is a historic moment for our organization, as we firmly position ourselves at the heart of consumer lifestyle in the kingdom. For three decades, our companies have grown and transformed alongside the country and its people to deliver access to the best brands, in world-class platforms. Cenomi signifies an even greater amplification of that vision, and firmly sets us up for the next 30 years of success and beyond.”
Ceno – meaning new, of Greek origin – and Mi referencing ‘me’, Cenomi has been created with the customer at its core. Promising to deliver a new era of retail and lifestyle to the Kingdom of Saudi Arabia and beyond, Cenomi provides platforms where its customers can explore and discover, experiment and enjoy. Whether through fashion, beauty, entertainment or dining, Cenomi curates the best brands and experiences to create fully immersive lifestyle platforms. This can be experienced in person, at one of its 21 malls and centers across the country or online through a complete omnichannel universe, including the new-to-launch digital marketplace coming next year.
“This is about more than a new visual identity,” said Mohamad Mourad, Group Managing Director and CEO, Cenomi Group and interim CEO, Cenomi Retail. “It is a new identity, and a new direction, entirely. Cenomi curates the very best from across the lifestyle, fashion, dining and entertainment ecosystem to disrupt the landscape of destination lifestyle and retail in the kingdom. Our ambitious growth supported by our extensive experience, combined with the development and adoption of innovative, technology-first thinking will deliver consumer experiences never seen before in Saudi Arabia.”
Cenomi Rewards, the company’s exclusive new loyalty program, has also been introduced to consumers for the first time today (Wednesday). It allows members to earn points with every purchase made at participating brands across all 21 Cenomi malls and centers and participating brands and partners. Accessed through the Cenomi Rewards app and website, members can then redeem points for cash back to spend in store, as well as special deals and discounts on their favorite fashion and F&B brands, or with a range of Cenomi Rewards’ partners.
Furthering its position as the leading omnichannel lifestyle destination in the kingdom, the company plans to roll out Cenomi.com in the first half of 2023. The new ecommerce marketplace also provides brands the opportunity to offer Saudi customers the very best choice and convenience when online shopping.
Alison Rehill-Erguven, CEO, Cenomi Centers, commented, “We understand that, as the country undergoes rapid transformation, we must always be in sync with our consumers growing needs and aspirations. There is a sense of adventure in the kingdom that we have not seen before, and we are expertly positioned, as part of the Cenomi ecosystem, to fulfil that, and more.“
Mourad added: “We have created a platform that allows our lifestyle destinations and fashion retail business to work ever closer, together with our new loyalty program and our existing and new ecommerce platforms, to create a true lifestyle powerhouse.”
Founded in 1990, with the opening of two menswear stores, the company is now the largest owner, developer, operator and franchiser in the kingdom, with 21 malls and more than 85 brands across fashion, food & beverage and entertainment. The company has brought some of the world’s most iconic brands to the kingdom for the first time. This includes a long-standing partnership with retail giant Inditex and the launch of the kingdom’s first premium Apple reseller, Aleph.
CENOMI
FAWAZ ALHOKAIR GROUP, ARABIAN CENTRES AND ALHOKAIR FASHION RETAIL ANNOUNCE FULL REBRAND: UNVEILING CENOMI
• 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.
ARABIAN CENTRES LAUNCHES MULTI-BILLION JAWHARAT AL-KHOBAR MALL
• Lease and investment contract signed with HRH Prince Mohammed bin Fahd bin Abdulaziz Al-Saud, for 300,000 sqm of land
Riyadh, Saudi Arabia. 16 June 2022: Arabian Centres Company (ACC), the largest owner, developer and operator of contemporary lifestyle centres in Saudi Arabia, has announced the appointment of its new Chief Executive Officer (CEO), Alison Rehill-Erguven, joining in August 2022.
Rehill-Erguven brings more than two decades of extensive shopping mall and real estate experience having been based in and/or managed joint ventures, assets and teams in some of the world’s most prominent emerging markets across Asia, Europe and Latin America. In addition, she has more than 10 years of experience in the US market, working with global industry-leading commercial real estate companies and shopping mall operators, General Growth Properties and Simon Property Group.
She joins Arabian Centres from her position as head of commercial real estate of Brookfield Properties based in Shanghai, China, where she was responsible for all retail assets including shopping malls, offices and mixed-use developments. Brookfield Properties is a part of Brookfield Asset Management, one of the world’s largest alternative asset managers. Brookfield acquired Pradera Retail Asia (PRA), where Rehill-Erguven was formally the CEO since 2016.
In addition, she held the roles of Chairwoman of the Board for PRA China, Board Director PRA Hong Kong and Country Chairwoman for Turkey. Prior experience also includes as managing director of Pradera Limited, a London-based private equity firm, specialising in retail real estate, with assets and employees across the UK, Europe and Turkey.
Rehill-Erguven brings diverse, in-depth sector knowledge, having begun her career in fashion marketing and merchandising before moving into senior management roles across marketing, partnerships, business development and international asset management.
Mohamad Mourad, Managing Director of Arabian Centres, said: “Alison offers an impressive calibre of expertise working in some of the biggest, fastest growing markets in the world with expertise in the holistic shopping lifecycle. She intrinsically understands the importance of bringing together both the human and technology-enabled aspects of retail for a complete, immersive lifestyle experience.
“She will apply her significant knowledge of retail and real estate, working with some of the biggest owners and operators of retail assets globally, to steer Arabian Centres’ ambitious growth plans here in Saudi Arabia. I look forward to working closely with Alison as she spearheads plans that will hugely enhance the retail sector across the Kingdom and beyond.”
Alison Rehill-Erguven, CEO, Arabian Centres Company, said: “I am delighted to join Arabian Centres in Saudi Arabia. I am driven by the challenge of quickly understanding and adapting to new and emerging markets and the burgeoning opportunity in the Kingdom is the talk of our industry across the globe.
“Arabian Centres is on an exciting journey, with a strong growth trajectory. Its unique lifestyle offering, in one of the most exciting markets in the world, means it is perfectly positioned to support the nation’s forward-thinking plans and provide superior experiences to its discerning, savvy consumers.”
Rehill-Erguven has a BSc in International Trade with honours from the Fashion Institute of Technology, State University of New York, and is currently completely a Master’s in Organizational Leadership with a focus on strategic innovation and change management from Colorado State University, graduating in August 2022. She holds several board-level and non-executive director positions, including Non-Executive Director of ESAS Properties, Turkey, and is a member of the International Council of Shopping Centres and Middle East Council of Shopping Centres.
ARABIAN CENTRES COMPANY ANNOUNCES NEW CEO
Alison Rehill-Erguven will oversee Arabian Centres Company’s operations across Saudi Arabia
Arabian Centres Company has signed an agreement with Alghanim International Company Saudi Arabia, part of Fouad Alghanim & Sons Group of Companies, for the management and operation of Jubail Marina Mall, a newly established shopping center located in Jubail Industrial City.
The agreement comes as part of Arabian Centres’s strategy to accelerate and expand its presence and activities across Saudi Arabia. With the mall becoming operational, the total number of shopping centers managed and operated by the company across the Kingdom will reach 22, including five in the Eastern Province.
The agreement was signed by Mohamad Mourad, Managing Director of Arabian Centres and Altaf F. Alghanim, a board member at Fouad Alghanim & Sons Group, Accompanied by Fadi Haddad, President of Alghanim Company, and Hussain Al-Shalawi, Alghanim Company’s adviser in Saudi Arabia and Eng. Adel Alotaibi, VP of Alghanim Company Saudi Arabia. As well as Khalid Aljanahi, Chief Leasing Offier, Walead Alrebdi, Chief Financial Officer, and Ghassan Mtier, Chief Development and Delivery Officer at Arabian Centres.
As per the extendable 11-year agreement, Arabian Centres will lease, manage and operate Jubail Marina Mall. The mall is scheduled to be inaugurated in the second half of the fiscal year 2023 and will add 30,000 square meters of gross leasable area (GLA) to the company’s growing portfolio.
Jubail Marina Mall is part of Dareen Marina construction and operation project developed by Alghanim International Company Saudi Arabia under the supervision of the Royal Commission for Jubail and Yanbu. Hosting more than 300 yacht berths, the project is an extension of the waterfront in Jubail Industrial City, representing a major GCC tourist destination.
Spanning over 93,000 square meters, the mall is a two-story property, with 65 percent of its leasable area allocated for recreational activities (cinema, entertainment), food and beverages and general services. The remaining 35 percent will house a variety of fashion and lifestyle stores, offering a unique lifestyle experience for visitors.
Spread over an area of 107,000 square meters surrounding the marina basin, the multi-service project comprises residential and commercial plots, hotel facilities and an extensive walkway along the marina basin.
Speaking on the occasion, the Managing Director of Arabian Centres Company said: “The agreement marks another step forward in cooperation with Alghanim International Company, given its extensive experience in the creative development of tourist sites. This is especially true due to the unique location and elegant design of Jubail Marina Mall, which will serve as a model for Arabian Centres expansion strategy across the Kingdom while maintaining its leadership position in the sector.”
Commenting on the agreement, Altaf F. Alghanim, a board member of Alghanim International Company, said: “The group’s partnership with Arabian Centres, the leading mall operator in the Kingdom of Saudi Arabia, is a well-thought-out decision that will open doors for more opportunities for collaboration in the future. The project will add an important new commercial and tourist attraction to Jubail city in line with the new Saudi Vision and the aspirations of the Royal Commission for Jubail and Yanbu, the prime sponsor of the project.”
Marina Mall Jubail
Arabian Centres adds Jubail Marina Mall to portfolio with agreement signed with Alghanim International SA
(Riyadh, 22 December
2021) Arabian
Centres Company, the leading owner, developer, and operator
of lifestyle shopping centres in Saudi Arabia, has been
ranked the largest real estate developer in the Kingdom of
Saudi Arabia, and the ninth largest
among real estate developers in the Middle East and North
Africa (MENA) region, by Forbes Middle East for 2021.
The rankings by Forbes highlight Arabian Centres’ leading
position as Saudi Arabia’s premier provider of organized
retail space, with a strong and expanding presence in each
of the Kingdom’s three main regions: Western, Central, and
Eastern. Nearly two decades of experience in design and
development have given Arabian Centres an unmatched ability
to move projects rapidly and efficiently from design to
delivery.
Arabian Centres holds a portfolio of 23 commercial centres across the Kingdom of Saudi Arabia, with a total gross leasable area (GLA) of 1.36 million square meters (sqm). ACC has inaugurated two new properties during the current fiscal year: Jeddah Park and The View (Riyadh). The launch of Jeddah Park in mid-2021 introduced an additional 121 thousand sqm of GLA, while the inauguration of The View in November brings another 53 thousand sqm of new GLA to ACC’s portfolio. Built on freehold property overlooking King Salman Park in Riyadh, The View and introduces yet another innovative and unique lifestyle offering to the rapidly growing Riyadh market, deepening its presence and differentiating its offering in the Kingdom’s capital city. Arabian Centres plans to launch a further six centres over the next four years, covering the cities of Riyadh, Jeddah, Madinah and Qassim, and further strengthening the Company’s leading market position.
Source: Forbes.
ALMARAKIZ ARABIAN CENTRES TOPS REAL ESTATE DEVELOPERS IN KSA
Arabian Centres Company Ranked the Largest Real Estate Developer in Saudi Arabia Designation by Forbes underscores ACC’s leading position in Saudi Arabia and its pioneering of differentiated lifestyle concepts.
Riyadh, Saudi Arabia. 6 November 2022: Arabian Centres Company, the largest owner, operator and developer of shopping centres and complexes in Saudi Arabia, has signed an agreement with Adeer Real Estate for the sale of its non-core assets, a total value of around SAR2 billion. The signing took place between Arabian Centres’ CEO, Alison Rehill-Erguven and Suleiman Al Harbi, Deputy Chief Executive Officer, Adeer Real Estate.
The agreement follows recent approval of the programme from the company’s Board of Directors to sell an identified portfolio of non-core landbank assets, with a book value circa SAR 1.2 billion and a market valuation estimated at more than SAR 2 billion. The assets were identified by a study that showed they were best suited for residential or office space development and did not support Arabian Centres’ strategic priorities of developing best in class lifestyle destinations.
Alison Rehill-Erguven, CEO, Arabian Centres, said: “This is a strategically important programme for Arabian Centres, as we further align our future growth priorities with our overarching business initiatives. Adeer Real Estate is a leader in the sale of large-scale land and developments and intrinsically understands both the monetary and locational value of these assets, I am confident that this agreement will support the continued success of this programme.”
Suleiman Al Harbi, Deputy CEO of Adeer Real Estate, said: “Adeer Real Estate is proud to partner with Arabian Centres in its strategic asset sale programme. Arabian Centres’ portfolio of assets in this programme are high quality and we are confident of a positive reception from the market”.
The
first sale from the programme, announced last month, was for the
sale of 17,733 sqm of land, located in the Olaya district in
Riyadh. The last was purchased for a total price of
~SAR230.
ARABIAN CENTRES SIGNS WITH ADEER REAL ESTATE
• Company CEO Alison Rehill-Erguven, signed with Suleiman Al Harbi, Adeer Real Estate, deputy CEO at ACC’s headquarters in Riyadh • Follows ACC’s Board of Directors’ approval of the programme for the disposal of non-core land assets with an estimated market value north of SAR 2 billion
ARABIAN CENTRES ADOPTS FAIR VALUE MODEL,
INCREASES NET ASSETS BY SAR 10.5 BILLION
Riyadh, Saudi Arabia. 30 June 2022: Arabian Centres Company “ACC”, the largest owner, developer and operator of contemporary lifestyle centres in Saudi Arabia, announced that its Board of Directors has approved on 29 June 2022 the adoption of the fair value model “FMV” to measure its real-estate and investment properties.
The expected financial impact of which will increase the value of its net assets by SAR 10.5 billion, effective starting from the third quarter of the fiscal year 2023 (which ends on 31 December 2022). The net assets will increase from approximately SAR 16 billion (as recorded at cost model) to approximately SAR 26 billion (as recorded at market value).
The decision came following the Capital Markets Authority’s announcement earlier this year, which permitted listed companies to adopt “FMV” for the financial periods starting 2022 onwards. FMV is the most used practice by the biggest real estate companies globally, and it is in accordance with the IAS 40 accounting standards.
By adopting FVM, ACC’s investment properties will be presented at their fair value in the financial statements which will reflect the traded market value of these assets in accordance with the Royal Institution of Chartered Surveyors (“RICS”) that comply with the international valuation standards.
In addition, the implementation of this accounting standard will boost ACC’s financial position, including improving leverage ratios, triggering an increase in shareholder equity and retained earnings balance by approximately SAR 10 billion. This in turn will increase the book value per share from approximately SAR 12 to around SAR 34, providing ACC with an additional ability to maximize shareholders returns, and a higher flexibility in coping with the sector’s future developments and mitigating its associated risks.
Walead AlRebdi, Chief Financial Officer of Arabian Centres, said: “By adopting this international best practice method into our accounting processes, we are ensuring the very highest levels of accuracy and transparency when valuing our growing number of assets. Given the complexity of the assets we manage, fair value provides a robust and proven method that we already see the benefit of having estimated an increase in real asset value by more than SAR10 billion.
“We are continually working to deliver added value for our shareholders, and this will increase our shareholder equity and retained earnings balance by approximately SAR 10 billion, which in turn will increase the book value per share from approximately SAR 12 to around SAR 34.” he added.
Finally, adopting the fair value model will generally enhance ACC’s ability to expand in its operations in a faster and more efficient way and embrace new investment opportunities.
ARABIAN CENTRES ADOPTS FAIR VALUE MODEL,
• Net assets will increase from SAR 16 billion (cost model) as recorded at cost model to approximately SAR 26 billion (market value) • Increases the book value per share from approximately SAR 12 to SAR 34 • Aligns with international best practice as the company pursues continued and ambitious growth plans
Arabian Centres, the
largest owner, developer and operator of contemporary lifestyle
centres in Saudi Arabia, has launched its next-generation retail
experience, brought to life through two new locations Jawharat
Al-Riyadh and Jawharat Jeddah malls, collectively bringing more
than 235.6 thousand square metres (sqm) of GLA.
The company has signed two agreements with Riyad Capital, the
investment arm of Riyad Bank, to establish two real estate
investment funds worth SAR6.2 billion for the projects. Under the
agreement, Arabian Centres will handle the development and
management in both cities, while the investment funds will secure
funding for the projects.
Fully immersive lifestyle destinations Jawharat Al-Riyadh and
Jawharat Jeddah Malls will offer all-inclusive, modern
experiences, bringing together luxury retail brands, a broad range
of dining concepts and vast entertainment offerings, including
cinemas and arcades. The malls will be home to some of the world's
leading fashion brands, with many opening their branches in the
Middle East or Saudi Arabia for the first time. With both closed
and open spaces, landscaped green areas, an artificial lake, and a
walkway the sites will bring a truly unique visitor experience to
the Kingdom.
Located near the intersection of King Khalid Road with Al-Orouba
Road, Jawharat Al-Riyadh Mall will encompass an area of nearly
623.4 thousand sqm with a market value of about SAR2.1 billion.
Meanwhile, Jawharat Jeddah Mall is currently under construction in
the Al Muhammadiyah district at the intersection of King Abdulaziz
Road with Al-Salam Road, covering an area of 170.7 thousand sqm,
with a market value of nearly SAR1.2 billion.
Riyad Capital will oversee and provide coverage for the funds,
while the units of both funds will be fully owned by Arabian
Centres. Arabian Centres will retain the right of management and
operation of the developed malls associated with these two
CMA-licensed funds, and according to the terms and conditions of
the two funds. They later might be traded publicly as Real Estate
Investment Traded Funds (REITs).
On the announcement, Managing Director of Arabian Centres, Mohamad
Mourad, reiterated the company’s continued dedication to its
ambitious development plans: “These are two truly unique concepts
that Arabian Centres is bringing to the Kingdom, offering fully
integrated retail and leisure locations that cater to residents of
Riyadh and Jeddah inclusively. We have set out an impressive
growth strategy, with the inherent aim of uplifting the standard
of services, products, and experiences to our customers.
Simultaneously, we aim to deliver consistent added value to both
our tenants that support their own growth in the country, fully
supportive and in line with the objectives of Saudi Vision
2030.”
Sabty Al-Sabty, Riyad Capital’s CEO, expressed great excitement
regarding the launch of the funds as well as the partnership with
Arabian Centres, highlighting the important role the financial
market plays in the development of the real estate sector and
strengthening the relationship between the private sector and
investment companies. He also added that the institutional
framework contributes by increasing efficiency and growth of
businesses [SP1] [RA2] as well as creating opportunities for
high-quality real estate projects.
Construction work of Jawharat Al-Riyadh Mall began in August 2021
and is currently approaching 15% completion, a total investment of
nearly SAR1.8 billion. The mall is strategically located near
several key capital city landmarks, including the Diplomatic
Quarter and Diriyah Gate. The fund is expected to accelerate
development progress, with the mall projected to open in the first
half of 2025.
Given the project’s excellent location, the company’s leasing
department has already received expression of interest from
brands, accounting for around 70% of the approximate 148.4
thousand sqm leasable area. Once operational, the mall is expected
to create around 7,000 jobs.
In parallel, Jawharat Jeddah Mall’s construction currently stands
at 14% completion, with an equally advantageous location near King
Abdulaziz International Airport and the Jeddah Yacht Club, located
on the Jeddah Corniche.
Arabian Centres will work with Riyadh Capital to establish two funds
Arabian Centres will work with Riyadh Capital to establish two funds worth SAR6.2 billion to secure funding for projects
Arabian Centres Co. is pleased to announce the commencement of its infrastructure development works at its freehold plot in Al-Jazirah neighborhood of Buraidah city in Al-Qassim, under the name “Jouri project”. The plot has a total area of 1.6 million square meters and will include a fully integrated mix-use complex on an area of 1.2 million square meters, adjacent to the iconic mall “Qassim U Walk” that is being currently developed on an area of 400 thousand square meters. “Qassim U Walk” will offer a unique modern design blending indoor and outdoor spaces overlooking water features, while dedicating approximately half of the mall’s mix to entertainment facilities like cineplexes, casual dining in restaurants and cafes, beside the retail area.
The Company will develop the Jouri project as a first of its kind integrated mix-use complex in the region aiming to match the utmost modern lifestyles, which makes it a unique model for the mix-use projects in Qassim region. The project will house a large park measuring 148.4 thousand square meters, pedestrian footpaths, bicycle lanes, outdoor sports facilities, and other distinctive green spaces.
The Company estimates net proceeds from sale of the residential plots of approximately SAR 750 Million upon the sale of all developed plots. The Company also expects the positive impact on its financial statements out of this project to start during the first half of FY2023, with the project development costs to be financed through the proceeds from the off-plan unit sales.
Arabian Centres’ MD & Acting CEO, Mohamad Mourad, commented: “The Company’s commencement of infrastructure development of Jouri project, following our announcement in November 2021 that the Ministry of Municipal Affairs’ Off-Plan Sale or Rent Committee (Wafi) had granted Arabian Centres the Real Estate Developer Qualification Certificate, came to enhance the lifestyle experience of Qassim’s residents and to create local jobs in the spirit of local social responsibility. In addition, innovative projects such as the Jouri project will strengthen the Company’s financial flexibility and will further maximize the value we generate to our shareholders.” Mr. Mourad also affirmed that we remain firmly focused on our role as the leading shopping mall developer and operator in the Kingdom.
Arabian Centres Announces its First Integrated Complexes
on its 1.6 million sqm Land in Qassim under the name “Jouri Project”
Arabian Centers Company is pleased to announce the opening of its
21st mall under ACC operations called “ The View ”. The mall was
inaugurated by Eng. Salman Alhokair (Managing Director) and Faisal
Aljedaie (CEO of ACC).
The new shopping mall is located on Makkah Al Mukarramah Road,
King Abdulaziz District in Riyadh. Having open air terraces with
fountains the mall offers spectacular view of King Salman
Park.
The total leasable space in this mall is 52 thousand square meters
and contains more than 160 shops offering the finest
international, regional and local brands from fashion, beauty,
restaurants, cafes, cinema and entertainment.
Arabian Centers Company is pleased to announce the opening of its 21st mall under ACC operations called “ The View ”.
Arabian Centers Opens "The View"
.
Riyadh, Saudi, Arabia. 24 July, 2022: Arabian Centres Company, the leading owner, developer and operator of shopping malls in Saudi Arabia, has launched a series of special summer value offers. Shoppers can keep cool whilst treating themselves to a range of deals and discounts, available across all malls in the Kingdom.
With buy-one-get-one-free deals, as well as a range of offers on beauty, food and entertainment, the offers are available on weekdays from 10am-4pm, visitors to any of Arabian Centres’ malls can take some time out with family and friends and enjoy these specially tailored treats.
Every day offers something unique, with Sunday dedicated to all the family with offers on fashion and sports as well as deals on a range of fun activities; beauty offers on Mondays; enjoy some delicious dining deals on a Tuesday; Wednesday’s dedicated to exciting entertainment deals; and Thursdays are all about tech.
A number of the malls’ partners and tenants are participating in the summer campaign, including Sala Entertainment Company, Sparky’s, Bobbi Brown, Este Lauder, Flormar, Nature Republic, Aleph and IUC.
ARABIAN CENTRES LAUNCHES SMART SHOPPING
Tailored deals and great offers available at all malls throughout the summer season
Under the patronage of his excellency, the Minister of Municipal, Rural Affairs and Housing, Mr. Majid Bin Abdullah Al-Hogail, the National Housing Company (NHC) signed an agreement with Arabian Centres Company for the development and operation of a full-service commercial mall for the landmark “Murcia” project, located in the north of Riyadh.
The agreement was signed at the “Murcia” interactive centre by His Excellency Eng Mohammad Bin Saleh Al-Bati, CEO, NHC, and Mr. Mohamad Mourad, managing director, Arabian Centres.
The Murcia project is the first of its kind in the Kingdom’s real estate development sector. The new mall will cover an area of approximately 180,000 square meters and house 150 outlets, including retail stores, restaurants, cinemas and entertainment, with in excess of 3,500 parking spaces to meet the needs of the entire community.
The mall also includes both closed and open spaces, greenspaces and water fountains to provide a complete lifestyle destination of the residents of the Murcia development. The total cost of the project is SAR 600,000 million, of which SAR260,000 million is dedicated building development costs.
His Excellency Engineer Mohammad Al-Bati, CEO of NHC, speaking at the signing ceremony of the agreement, the importance of this partnership within the development of the Murcia project, which is a pioneering project being implemented by NHC and the mall will further enhance the integrated lifestyle that Murcia offers as a residential environment.
Mohamad Mourad, Managing Director, Arabian Centres Company, said: “Murcia is a flagship project for Riyadh, and for the kingdom, and we are delighted to be part of this strategic partnership. Our lifestyle destinations fit seamlessly with the community concept of the Murcia development, and we look forward to working with the Saudi National Housing Program on this integral part of the country’s vision.”
Murcia is one of a series of quality housing projects developed by “National Housing” in Riyadh, and it extends over a total area of 2.7 million square meters. The project includes more than 5,000 homes and 570 apartments and is developed in a modern way that offers all residents a high quality of life.
The National Housing NHC is considered to be the largest developer in the real estate system, as its activity is based on developing and investing in real estate projects that inject the market with quality projects, contributing to the empowerment of real estate supply system in the Kingdom.
Saudi National Housing Company and Arabian Centres sign agreement
Saudi National Housing Company and Arabian Centres sign agreement to develop SAR 600 million commercial mall in Murcia development
DHAHRAN – The Mall of Dhahran has reopened its doors. Following the completion of repairs and restorative work, the mall has fully reopened just weeks after its closure as a result of a fire last month.
Arabian Centres Company, the owner and operator of the mall, has announced that it has completed all the necessary work, as the incident affected less than 10% of the mall’s GLA and did not result in any casualties.
Arabian Centres has expressed its gratitude to the Governor of the Eastern Province’s quick response and action to extinguish the fire, as well as praising Civil Defense and the security forces whose efforts helped to contain the fire and mitigate damage.
In addition, the company thanks Saudi Aramco, National Water Company and Saudi Electricity Company for their invaluable contributions in controlling and containing the fire.
The Mall of Dhahran is one of the largest shopping centers in the Eastern Province, spanning over an area of more than 250,000 square meters and home to some 500 shops, entertainment facilities, international restaurants and cinemas.
MALL OF DHAHRAN REOPENS TO THE PUBLIC
DHAHRAN – The Mall of Dhahran has reopened its doors. Following the completion of repairs and restorative work,
Based on our strategic vision of enhancing the experience of visitors and customers across its commercial centers in various regions of the Kingdom, Arabian Centres Company has signed three memoranda of understanding with local and international companies specialized in the information and communications technology sector on the sidelines of the LEAP Technology Conference.
The first agreement is signed with Software AG Group in the presence of Mr. Phillipe La Fornara - President EMEA, with the aim of utilizing digital technologies in developing operational systems and risk management within commercial centers to be more compatible with modern life.
Arabian Centres signed its second agreement with Cisco in the presence of the Managing Director, Mr. Salman Fakih. The agreement aims to develop the digital infrastructure for Arabian Centres malls providing both wired and wireless networks and to gain from their international experience in building integrated networks and platforms within the smart malls.
The last memorandum in this regard came with a signing with Twal Company in the presence of Chief Commercial Officer, Mr. Abdulrahman AIMoaiqel. Twal Company specializes in the communications and information technology sector and will build smart communication networks and provide coverage of the 5G networks within Arabian Centres’ malls. Additionally, the company will work on enhancing the efficiency of internal and external networks using modern and advanced technologies.
On behalf of Arabian Centres, these agreements were signed by the Chief Technology Officer, Mr. Abdullah Al Harbi who confirmed that these agreements aim to improve the experience of mall visitors and are in line with the requirements and desires of the customers.
Arabian Centres seeks to innovate and implement emerging technologies in its malls by applying the highest modern technology standards aimed at establishing future smart malls. This will contribute to attracting the largest international brands, restaurants, and entertainment centers to achieve the welfare of visitors and support tthe digital transformation processes in the Kingdom.
Arabian Centres signs three technical MOUs
Arabian Centres Company has signed three memoranda of understanding with local and international companies specialized in the information and communications technology sector on the sidelines of the LEAP Technology Conference.
