Agreement reached with Saudi Arabia’s Alghanim International Company
Arabian Centres Company recently signed an agreement with Alghanim International Company Saudi Arabia, part of Fouad Alghanim & Sons Group of Companies, for the management and operation of Jubail Marina Mall, a newly established shopping center located in the Kingdom’s Jubail Industrial City.
The agreement comes as part of Arabian Centres strategy to accelerate and expand its presence and activities across Saudi Arabia. With the mall becoming operational, the total number of shopping centers managed and operated by the company across the Kingdom will reach 22, including five in the Eastern Province.
The agreement was signed by Mohamad Mourad, Managing Director, Arabian Centres and Altaf F. Alghanim, Board Member, Fouad Alghanim & Sons Group, accompanied by Fadi Haddad, President, Alghanim Company, and Eng. Adel Alotaibi, VP, Alghanim Company Saudi Arabia.
As per the extendable 11-year agreement, Arabian Centres will lease, manage and operate Jubail Marina Mall. The mall is scheduled to be inaugurated in the second half of the fiscal year 2023 and will add 30,000sqm of gross leasable area (GLA) to the company’s growing portfolio.
Spanning over 93,000sqm, the Jubail Marina Mall is part of Dareen Marina construction and operation project developed by Alghanim International Company Saudi Arabia under the supervision of the Royal Commission for Jubail and Yanbu.