Saudi Arabia-based developer, owner and operator of shopping malls, Arabian Centres has appointed Khaled Al Jasser as the new CEO.
“We would like to welcome Al Jasser to the Arabian Centres family and wish him the very best in his new role. We are confident that his track record in leading several institutions towards growth and success will help Arabian Centres unlock further opportunities for growth in Saudi Arabia, thereby further transforming the retail sector in Kingdom in line with international markets,” says Fawaz Alhokair, chairman of Fawaz Alhokair Group, the parent company of Arabian Centres.
Prior to joining Arabian Centres, Al Jasser was the CEO of Bank Albilad. Under his guidance and leadership, the bank has made significant strides and emerged as one of the leading Shariah-based financial solutions providers in KSA. He previously served as the executive vice president of Riyadh Bank.
Based in Riyadh, Al Jasser will lead the company’s on-going expansion programme, which is expected to double its retail real estate portfolio in the next three years. Last year, Arabian Centres embarked on a massive expansion programme announcing the development of 12 new shopping malls in KSA ranging in size from 484,375 sqft to 1.8 million sqft, with launches spanning from Riyadh to Dhahran. Once completed by 2018, the new developments will double the total portfolio to nearly 21.5 million sqft of GLA.
“I look forward to contributing to the on-going growth of Arabian Centres, which has established itself as the leading retail real estate company in Saudi Arabia. With a strong track record of delivering modern retail destinations with presence across the Kingdom, Arabian Centres is well positioned to transform the retail landscape and have a direct impact on the Kingdom’s diversification strategy, which will be at the core of my strategy,” Al Jasser adds.