A strategic and franchising partnership has been announced between Cenomi Centers, the leading mall developer and operator in Saudi Arabia and Unibail-Rodamco-Westfield (URW), owner, developer and operator of sustainable, high-quality flagship Westfield destinations in Europe and the US.
Earlier this week, Cenomi Centers and Unibail-Rodamco-Westfield (URW) signed a 10-year exclusive strategic and franchising partnership agreement, with the option to extend for another 10 years, covering the Saudi Arabian shopping centre market, demonstrating Cenomi Centers’ unwavering commitment to strengthening its leadership position in KSA and the MENA region.
Under this partnership, Cenomi Centers will obtain the exclusive licensing rights to the Westfield brand in KSA from URW and tap into URW’s best-in-class network and capabilities across a full range of support in key areas including Leasing, Operations, Marketing, Retail Media and more, allowing Cenomi Centers’ Westfield-branded malls to be top-of-mind destinations for consumers, tourists and brands, while boosting its market share.
Under the Westfield brand, and with URW’s support, Cenomi Centers will offer Saudi residents and tourists the next generation of world-class shopping centre experiences, boosting tourism and global engagement within the sector, acting as a powerful contributor to Vision 2030’s objectives of enhancing quality of life and opening the Kingdom to the world’s global retail champions.
Alison Rehill-Erguven, CEO, Cenomi Centers, said: “We are thrilled to embark on this groundbreaking and exclusive partnership with URW, a global leader in the retail industry. This collaboration not only solidifies our position as the leading owner, operator and developer of contemporary lifestyle centres in Saudi Arabia, but also aligns with the Kingdom’s broader goals for economic growth and development in both the sector and region. Together, we will cement our position as the leader in KSA by introducing exciting new growth and tenancy opportunities for many years to come.”
Jean-Marie Tritant, CEO, Unibail-Rodamco-Westfield, said: “Cenomi Centers is an incredible partner that shares our vision for the future of retail. Its portfolio of flagship destinations matches the ambition of the Westfield brand, providing the perfect platform to deliver Westfield’s unmatched experience to customers and visitors in the Kingdom while also supporting the brand’s international expansion. We are tremendously proud of the partnership and the opportunity to work with Cenomi Centers to contribute to the broader economic and development goals of the Kingdom.”
