Arabian Centers Company (Cenomi Centers), a leading Saudi developer of lifestyle destinations, has announced that it has awarded a $220 million (SAR 825 million) design-and-build order to Lynx Contracting for the mall and office components of its Madinah Downtown project.
The project is owned by Saudi Downtown Company, a Public Investment Fund (PIF) company within the Urban Development & Livability ecosystem. The two sides signed the contract on 29 October 2026, and the work is scheduled to take 30 months.
Lynx Contracting's project scope includes design and build work for the mall and the office building. Its scope covers engineering, construction, supply and installation, testing and commissioning, and final handover under the agreed contract terms.
Cenomi Centers expects the contract’s financial impact to show in its results over the construction period.
The contract follows the agreements Saudi Downtown and Cenomi Centers signed in August for the Al Madinah Downtown retail centre.
Under a three-year Development Services Agreement, Cenomi manages the design, procurement and construction of the retail component. Under a separate Promise to Lease Agreement, it will lease and operate the mall for 25 years once it is complete.
This is Lynx's second major Saudi Downtown package win through Cenomi. TradeArabia had in June reported that the company had clinched the design and build contract worth SAR1.3 billion ($342 million) from Cenomi Centers for the development of Al Khobar Downtown Mall and Boulevard Project in the kingdom's Eastern Province.
A premium retail and boulevard project at Al Khobar, it is set to become a luxury retail, entertainment and lifestyle destination in the Eastern Province, further strengthening Cenomi Centers’ portfolio of flagship assets across the kingdom.
Lynx's scope of work was the design, engineering, procurement, construction and installation services as well as testing, commissioning and the final handover of the mixed-use retail and lifestyle destination.-TradeArabia News Service
