Arabian Centres Company completes Saudi mall extension
RIYADH, September 27, 2020
Arabian Centres Company, a leading owner, developer and operator of lifestyle shopping centres in Saudi Arabia, has announced the soft opening of Nakheel Mall Extension (Phase One) in Riyadh, bringing online 16,000 sq m of additional GLA.
The expansion work has been done on a leased land, at an investment of SR255 million ($68 million).
The extension includes 73 commercial outlets that will host the most luxurious international and local restaurant, café, fashion and cosmetics brands, which would cater to the prestigious rank of the existed Mall in addition to a large cineplex with 13 screens, said the company in its filing to Saudi bourse Tadawul.
The cineplex, which is spread over a 5,000 sq m, has been officially opened. The 1,520-seat facility boasts the latest technology and will offer an innovative movie experience for the viewers, it stated.
The financial impact of the project will appear from the third fiscal quarter ending December 31, the statement added.-TradeArabia News Service
