Riyadh – Mubasher: Arabian Centres Company soft opened Nakheel Mall Extension (Phase 1) in Riyadh on Thursday, 24 September, with around 16,000 square metres of rentable areas added, of which 70% was leased.
The extension building has been developed on leased land, with total investments of SAR 255 million, according to a bourse statement on Sunday.
The extension includes a cineplex that spans 5,000 square metres, with 13 screens and 1,520 seating capacity. In addition, it comprises 73 commercial outlets that will host luxurious international and local brands in the food and beverage, fashion, and cosmetics sectors.
The material impact of this extension will reflect on the company’s financials starting as of the third quarter (Q3) ending on 31 December 2020.
