Saudi Arabian shopping mall developer and operator Arabian Centres has seen its visitor rates return to pre-Covid-19 figures, recording more than 10 million shoppers during Ramadan.
It attributes the rebound to various promotions and activities celebrating Ramadan and eid, such as their ‘Your Visit Is Worth Gold’ campaign, which rewarded shoppers with prizes up to SAR250,000.
“The number of mall visitors during Ramadan hitting more than 10 million, which nears pre-pandemic levels, is only indicative of how confident visitors have become about our shopping centres and is also a sign of the sector’s post-crisis recovery,” said Mohamed Mourad, managing director at Arabian Centres.
Last year, Arabian Centres recorded an increase in net profits from 2020.
By the third quarter of 2021, the developer’s net profits valued SAR110.1 million, a 15 per cent increase year-on-year, and a 21.3 per cent increase from the previous quarter.
The quarter also saw 92.8 per cent occupancy, with the renewal of 689 leases.
Arabian Centres operates 21 malls across 11 cities, including Riyadh’s Al Nakheel Mall, Jeddah’s Mall of Arabia and the Eastern Province’s Mall of Dhahran.
