Arabian Centres opens first phase of Riyadh mall extension

Arabian Centres Co. announced, on Sept. 24, the soft opening of the phase 1 of Nakheel Mall extension in Riyadh, according to a bourse statement.

The extension building, built at a cost of SAR 255 million, has been developed on leased land, bringing the additional gross lease area (GLA) to 16,000 square meters (sqm).

It will boast a large cineplex, with 13 screens and 1,520 seats, which is officially opened as well, occupying 5,000 sqm.

The extension also includes 73 commercial outlets that will host the most luxurious international and local restaurants, cafés, and fashion and cosmetics brands, catering to the prestigious ranks of the existing mall.

The financial impact of the project will appear from the third fiscal quarter ending Dec. 31, 2020.