Page 54 - February 2020

A Kingdom in The Kingdom of Saudi Arabia is the largest country in the Middle East

and the 13th largest nation in the world, with an area of approximately
Change 2.15 million square metres, covering 80 per cent of the Arabian

Peninsula. Here, RLI takes a look at the key retail projects recently

completed and currently under construction across the Kingdom.

ince its establishment in September 1932,
the Kingdom has poured its considerable
financial resources into a series of large-scale
S economic development, diversification and
modernisation initiatives.
According to Oxford Business Groups’ ‘The Report:
Saudi Arabia 2019’ the Kingdom has attracted international
attention for the momentum of its socio-economic
transformation, taking place under the auspices of the
Vision 2030 development blueprint.
Vision 2030 sets out sweeping regulatory, budget and
social reforms that will be implemented over the coming
decade as the nation sets about curbing its reliance on
crude oil production and export, which accounted for 43.5
per cent of GDP in 2018.
Business Wire highlights that the Saudi Arabian retail
market has been segmented into central, west, east, south
and north regions. Among these regions, the Central region
is the largest demand generating region in the country’s
retail market, due to the strong presence of key market
players in the region. Riyadh, the capital of Saudi Arabia,
which is present in the Central region, has seen more
significant transformation than other cities or regions.
Riyadh has become the central hub for new technologies
and latest creations.
Some of the major players operating in the Saudi Arabian
retail market are Panda Retail Co (Savola Group), Lulu
Group International (EMKE Group), Abdullah Al Othaim
Markets Co., Fawaz Abdulaziz AlHokair Co., and Majid Al
Futtaim Retail LLC, among others.
Located in the wider Ajdan Waterfront development
in Saudi Arabia’s coastal city of Al Khobar, the Benoy-
designed, recently opened Ajdan Walk offers an urban
oasis featuring a cultural and retail programme. Embracing
its location, as it’s set along the main Al Ameer Road, the
scheme focuses on providing a comfortable, pedestrian-
friendly environment, and maintains strong links to the
corniche along the country’s Gulf coast. Spanning 17,000sq
m, the development includes open-air food and beverage
outlets, shopping outlets, water features and public areas.

Kingdom of Saudi Arabia
NEOM
Tabuk Province
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