Saudi Arabia’s premier name in high-quality shopping malls, Arabian Centres, is planning 10 new giant shopping malls – which will all contain family entertainment centres – between now and 2018.
This is according to Khalid Al Jasser, CEO of the group. Arabian Centres already operates nearly one million square metres of leasable shopping space in its locations.
“We will mix shopping and entertainment options,” he said. “The footfall we attract will want to spend time at a fine dining restaurant inside the mall rather than one in the high street.” Arabian Centres is facing strong competition from United Arab Emirates major retail names that are targeting Saudi Arabia for expansion.
Some of the biggest names in UAE retail – mostly with FEC divisions within their businesses – are coming to Saudi. The Majid Al Futtain Group has three huge projects in Saudi planned and the Al Futtaim Group (similar name, different company) is taking its Festival City brand to the country.
Said Al Jasser: “It is a compliment to Saudi Arabia that this level of investment is coming from another country. It will improve the competition levels and will lead to improving the overall quality.”
Pictured is the proposed Jawharat Mall in Riyadh which is under construction by Arabian Centres.
