MAPIC 2015: Arabian Centres has unveiled its plans at MAPIC today for ‘Mall of Arabia Riyadh’, a new 2.8m sq ft retail and leisure scheme in Saudi Arabia.
The Mall of Arabia Riyadh will be the flagship in the Arabian Centres portfolio and is scheduled to open in 2018.
Plans include a five-star hotel and 336 shops in 1.8m sq ft of retail and leisure space.
Retail clothing sales in Saudi Arabia are expected to grow by 11% in 2016 (Al Rajhi Capital) with the country’s private wealth expected to hit $2trn by 2019 (BCG Global Wealth Report 2015).
Simon Wilcock, chief executive officer of Arabian Centres, said: “The Mall of Arabia is breaking new ground in Saudi Arabia’s retail and real estate sector. We are creating and bringing new and exciting concepts that have not been seen before in the Kingdom.”
