Project features 126,500sqm of GLA and over 350 commercial units
Arabian Centres Company (ACC) has announced the soft opening of Jeddah Park Centre on the Prince Muhammad Bin Abdulaziz Road in Jeddah. Once fully open, it will feature over 350 commercial units that include the finest international and local brands in the fields of fashion, cosmetics and food and beverages, ACC said.
The company stated that the retail destination features 126,500sqm of gross leasable area (GLA) and is the 22nd centre in its portfolio.
The launch is part of the company’s strategy of utilising an asset light model that will contribute to enhancing its financial flexibility in order to expand its operations, said the firm 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, the firm concluded.