Riyadh – Mubasher: Saudi Investment Company (SICO) announced it has opened the first phase of its ninth mall in the kingdom, Quwaieyah Mall, in Al Quwaieyah City.
This opening is part of SICO’s expansion strategy which aims at raising its mall numbers to 13 by 2025 across the kingdom, the Saudi shopping malls owner and operator said in a statement.
SICO currently develops five new shopping malls in the GCC country with sizes ranging between 30,000 square metres and 100,000 square metres.
Once the construction of these malls completes, gross leasable area (GLA) of SICO will increase to 234,000 square metres, according to the statement.
Quwaieyah Mall, located 170 kilometres west of Riyadh City on the Riyadh-Makkah Highway, will be the first stop point for travelers on Makkah Highway, the Saudi shopping malls developer added.
Quwaieyah Mall has been built at a cost of $20 million with a GLA of around 25,000 square metres, in addition to 65% of space reserved for retail units, 20% for entertainment, and 15% for food and beverage outlets.
The mall will feature the first cinema theatre in Al Quwaieyah City, as well as Sparky’s entertainment zone by AlHokair Group.
The company also said that the mall will have an outdoor parking space that could have around 800 vehicles.
Fahad Alshathri, managing director of SICO, commented: “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,” Alshathri continued.
Quwaieyah Mall is projected to offer 450 jobs for Saudi men and women, he remarked.
The mall will also feature a four-star hotel and a bazaar which is expected to organise around 40 exhibitions to promote local entrepreneurs following the completion of the third phase.
