Arabian Centres, developer, owner and operator of shopping malls in Saudi Arabia, has launched its fifth mall ‘Yasmin Mall’ at one of the prime locations in Jeddah.
Spread over nearly 60,000 sqm, Yasmin Mall will house 210 retail outlets, including a wide range of entertainment and leisure options. According to Simon Wilcock, Chief Executive Officer of Arabian Centres, the mall is a great destination for retailers looking to build or further expand their brand with an estimated annual footfall of nine million.
Arabian Centres is currently developing other 11 shopping malls in the kingdom that range in size from 45,000 sqm to 165,000 sqm, with launches from Riyadh to Dhahran.
According to a recent report by McKinsey, Saudi Arabia’s retail sector has the potential to double its productivity in the next 15 years and generate up to 800,000 additional jobs for Saudi nationals.
“By virtue of being the biggest retail market in the GCC, the demand for modern retail space in Saudi Arabia is very high. In part, this demand reflects significant growth opportunities that exist for retailers,” Wilcock said.
Arabian Centres owns and operates four shopping centres in Jeddah. In the Western region, the developer also owns Al Noor Mall in Madinah, Makkah Mall in Makkah, and Jouri Mall in Taif.