\nSaudi Arabia\u2019s Arabian Centres and National Housing Company have signed an agreement to build a full-service commercial mall in the company\u2019s Murcia project in Riyadh\u2019s Al Jawan Suburb.<\/p>\n
The mall will span 180,000 square metres and house closed and open spaces, green areas, water fountains, 150 leasable outlets and 3,500 parking spaces.<\/p>\n
With a gross leasable area of 45,000 square metres, the mall will offer customers international and local fashion brands, casual dining outlets, a hypermarket, a cinema and other entertainment concepts and services.<\/p>\n
The shopping mall is set to open in the first half of 2025.<\/p>\n
The project sees SAR260 million invested in construction and building development operations.<\/p>\n
Upon approval of the mall\u2019s structure and design, construction will begin in the second half of this year.<\/p>\n
The agreement entails forming a new company under the National Housing Company with a working capital of SAR130 million, paid equally by both parties.<\/p>\n
The company will lease the land for SAR340 million to be paid in annual payments.<\/p>\n
The residential Murcia district spans 2.7 million square metres, with 5,000 homes and 570 apartments.<\/p>\n
\u00adArabian Centres Co. is currently constructing shopping centres at Jawharat Al Riyadh and Jawharat Jeddah and reported steady progress last month.<\/p>\n
Located near the intersection of King Khalid Road and Al Orouba Road, the project at Jawharat Al Riyadh is almost 15 per cent complete and will span 623,400 square metres.<\/p>\n
The project began with an investment of SAR1.2 billion and is expected to boast a market value of SAR2.1 billion and create 7,000 jobs.<\/p>\n
The mall is expected to open within the first six months of 2025.<\/p>\n
Located near King Abdulaziz International Airport and Jeddah Yacht Club on the Jeddah Corniche, Jawharat Jeddah has reported that construction is 14 per cent complete.<\/p>\n
Built with an investment of SAR1.1 billion, the centre is set to open next year.<\/p>\n
With its upcoming centres, Arabian Centres Co. operates 23 malls in the Kingdom across 11 cities.<\/p>\n","protected":false},"excerpt":{"rendered":"
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