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HomeCover StoryNOVEMBER 2023 - The Point

NOVEMBER 2023 – The Point

Connectivity, Diversity, Exclusivity

Representing a strategic partnership between Red Sea Markets Company Ltd.|Asir and the Tourism Development Fund, The Point is set to become a leading mixed-use development in the city of Abha in Saudi Arabia. Here, RLI sat down with Muwaffaq Mansour Jamal, CEO of Red Sea Markets to learn more about this unique project and why it will be such a game-changing scheme.

NOVEMBER 2023 - The Point 1

The Red Sea Markets Company was established back in 2004 and is a member of the SEDCO Holding Group. The company’s first project, Red Sea Mall in Jeddah, launched 15 years ago and is still considered the largest mall in Saudi Arabia, with 140,000sq m of floor space. Even today, the scheme still hosts an average of 30,000 visitors every day.

The Red Sea Markets Company is working to replicate this success in Abha and is aiming to position The Point as the Aseer region’s leading tourist destination for shopping, entertainment and recreation.

“The Point project is set to be the first-of-its-kind mixed-use development across the whole of the south of Saudi Arabia,” explains Muwaffaq Mansour Jamal, CEO of Red Sea Markets. “To deliver on this, our design has taken into account the outdoor activities that will be on offer at the site as well as the indoor offering. Abha has always been known to be the centre for touristic activities in the southern region and people travel from all over the Kingdom because the weather is pleasant throughout the year, meaning the site can attract traffic from all over the Kingdom year round.”

NOVEMBER 2023 - The Point 2

At present, the ground levelling is almost complete ready to be handed over to the general contractors, so the development is on course to be fully operational in the final quarter of 2026. Construction is on course to commence in the next three months and with its phased opening approach, remains committed to its timeline of having the first parts of the development operating in the first quarter of 2026.

Rather than make a carbon copy of the Red Sea Mall, Jamal explains that he and the team envision The Point having the essence and core philosophy of what makes the Jeddah destination the most successful mall in the western region, while at the same time drawing artistic inspiration from the rich heritage Asir and combining this with the latest in entertainment technology to make the destination unique and unlike anywhere else in the world.

When discussing the key elements of this upcoming scheme, Jamal highlights that the development will provide unbelievable infrastructure for the experiences they are planning to create and integrate. “We have a wealth of knowledge in mall management, so retail and F&B will be a core element of the shopping experience that we offer visitors. In addition a large 10-screen cinema will be an integral part of the scheme. Visitors will also be able to stay overnight at The Point through the recent signing of Hilton The Point Residences and Canopy by Hilton The Point, both of which are also due to open in 2026.”

NOVEMBER 2023 - The Point 3

For local residents of the Aseer region, The Point will become a frequent favourite for both families and individuals, whether this is for a full day-out on the weekend, shopping, eating and playing or for a relaxing mid-week evening out for a nice meal and leisurely shopping time. As for residents of Saudi, the location will become a staycation where they can utilise The Point as a base camp to head out and explore the wider region with its rough yet breathtaking nature and scenery.

While the nature of the site means that most of the development is outdoors and distributed on sloped terraces across 50,000sq m, the heart of the project remains a central retail plaza that is overlooked by the F&B portfolio. Meanwhile, the west side of the development will be home to big box anchors such as the 6,000sq m hypermarket department store, 3,000sq m medical clinic and 1,000sq m youth centre and the east side will play host to the cinema and family entertainment centre.

“It is confirmed that there are a number of developments being planned or started to be executed in Abha itself. On the same hand, the diversity of offer and mix that The Point will offer upon completion will stand out to a complete different level of shopping, food and beverage and entertainment. We are fortunate to have a board that truly understands the needs of the modern consumer and allows us to work on a scale large enough to encompass all of this. While we may not have even started the vertical construction of the site yet, we already have a vision in place of what the expansion of the site will look like over the next decade,” Jamal highlights.

NOVEMBER 2023 - The Point 4

What has been a crucial element in the design of the project is its connectivity and accessibility and Red Sea Markets Company has worked very closely with its partners in the past months to integrate the scheme within local transportation plans. In addition, The Point will offer more than 1,500 parking spaces and these will be underneath the project, keeping the development walkable, car free and safe for pedestrians. Complete consideration has also been given to the requirements of any special needs guests across the entire development.

As the topic of conversation turns to social media, Jamal highlights that they plan on it having a major role in their marketing strategies as they move towards opening, with the goal being to establish a strong online presence. They will look to exploit all communication channels as well as physical and online modes to create an engaged community around The Point and generate anticipation ahead of launch.

NOVEMBER 2023 - The Point 5

As our time with Jamal runs out, we ask what lies ahead as development continues?
“In the immediate future we must focus on ensuring the availability of resources to execute The Point as due to the boom of mega projects across the Kingdom, the supply is struggling to keep up. In the long run, there will be numerous competitors in the area and we have to stay agile and adapt to changing market trends to The Point front and centre in the minds of customers,” Jamal concludes.