The company has announced the launch of Jeddah Park Centre on the Prince Muhammad Bin Abdulaziz Road in Jeddah.
A key retail destination featuring 126,500sq m of gross leasable area (GLA), the Jeddah Park Centre is the 22nd centre in the Arabian Centres Company’s portfolio. It will boast over 350 commercial units that include the finest international and local brands in the fields of fashion, cosmetics and food and beverages.
It is in line with the company’s strategy of utilising an asset light model that will contribute to enhancing the company’s financial flexibility in order to expand its operations, said Arabian Centres Company in its filing to the Saudi bourse Tadawul.
As per an agreement signed last year with the Jeddah Park Centre’s owner, it will be responsible for all the leasing, management, operation and maintenance works of the facility, it added.
