Saudi Investment Company (SICO) has opened the first phase of Quwaieyah Mall in Al Quwaieyah City. The 70,000sqm mall is located 170km west of Riyadh City on the Riyadh-Makkah Highway and is billed as the largest mall in the Riyadh region.
According to a statement, the US $20m has been designed using state-of-the-art retail concepts, which are said to ease and improve the shopping experience. The mall will have a GLA of approximately 25,000sqm, with 65% of the mall’s space reserved for retail units, 20% for entertainment and 15% for F&B outlets. The mall will also host the first cinema in Al Quwaieyah City, Sparky’s entertainment zone by AlHokair Group, and will have an outdoor parking space for almost 800 vehicles.
The opening ceremony was attended by Musaed Al-Salem, the Governor of Al Quwaieyah Province, Fahad Alshathri, chairman and MD of SICO, Dr. Bandar Talaat Hamooh, CEO of Panda Retail Company, Fahimul Islam & Mohammad Anas Abbasi from REDTAG, along with government officials and other VIPs.
“We are delighted to open our ninth mall in Saudi Arabia. Visitors and shoppers will be greeted with an excellent mix of retail, entertainment and leisure facilities. Al Quwaieyah Mall is a fantastic destination for retailers seeking to build and further expand their brand in the Riyadh Region. This exciting new prestigious business, retail and leisure development in Al Quwayiyah will offer business tenants a reputable business address, hotel guests an upmarket location and shoppers a unique, exclusive retail, entertainment and leisure experience,” said Alshathri.
The opening of Quwaieyah Mall is part of SICO’s expansion strategy, which aims to increase its mall numbers to 13 by 2025 across Saudi Arabia, the firm said. The mall is expected to create 450 job opportunities, as the retail sector in Saudi Arabia is expected to benefit from the diversification drive under the country’s Vision 2030 program, Alshathri noted.
“We are currently developing five new shopping malls in the Kingdom that range in size from 30,000sqm to 100,000sqm. Our GLA will double to 234,000sqm once these malls are completed, reinforcing our position as one of the leading mall developer and operator in the Kingdom,” added Alshathri.
When the third phase of Quwaieyah Mall has been delivered, the mall will then include a 4-star hotel, in addition to a bazaar that will organise about 40 exhibitions a year to promote local entrepreneurs.