The integration of digital experiences with physical stores in Saudi malls will be the main topic at the ninth Retail Leaders Circle Mena Summit, scheduled to take place in Riyadh on March 7-8.
Policymakers and thought leaders will participate in the event to discuss how increased investment can drive positive change in the retail industry.
Chairman of the Retail Leaders Circle, Panos Linardos, said: “Saudi’s existing malls should be preparing now for the hyper-competitive landscape that these next-generation developments will usher in.
“Changing consumer preferences and the continued rise of e-commerce make it imperative for malls to integrate digital technologies, immersive experiences and rich entertainment offers into their mix. The RLC MENA Summit will address the challenge of creating purpose-driven experiences as part of the overall theme of ‘Digital Economy and Purposeful Growth.”
According to the summit statement, the rapid pace of retail development in Saudi Arabia has created vast opportunities for global and regional developers to invest in digitally enabled, immersive mall experiences.
Some crucial mega-developments include Cenomi Centers which is adding 728,000 square metres of gross leasable area with seven new developments in the pipeline, including three new flagship projects Jawharat Riyadh, Jeddah and Al-Khobar.
Moreover, mixed-use developments such as Majid Al Futtaim Group’s Mall of Saudi are bound to launch new integrated lifestyle options across the country. Once completed, the Mall will feature approximately 700 retail units.
The Avenues – Riyadh, a project being developed on an area of 1.8 million square metres by Shomoul holding, a joint venture between Mabanee Company of Kuwait, Al Fozan Holding and Alshaya Group, can become one of the largest commercial malls in the entire Middle East with a gross leasable area of 400,000 square metres.
More than 80 speakers are going to attend the summit including managing director and CEO of Cenomi Group, Mohamad Mourad; CEO of Majid Al Futtaim Holding, Ahmed Galal Ismail; CEO of Alshaya Group, John Hadden; group president of Chalhoub Group, Patrick Chalhoub; chairwoman of Landmark Group, Renuka Jagtiani; CEO of noon, Faraz Khalid; executive chairman of MAGRABi Retail Group, Amin Magrabi; CEO of Virgin Mobile Mea, Nisreen Shocair; president and CEO of National Retail Federation, US, Matthew Shay; CCO of Insider Intelligence, US, Zia Daniell Wigder; and managing director of Harrods, UK, Michael Ward.
“The ninth Retail Leaders Circle significantly supports the Kingdom’s efforts to build a new model of extraordinary retail and commerce experiences within a digital, inclusive and sustainable ecosystem,” added Mr Linardos.
