All eyes on Jawharat Riyadh: Cenomi Centres redefines the concept of shopping centres


May 2, 2024 | By RetailME Bureau

Opening in the second half of 2025, the launch of Jawharat Riyadh and Jawharat Jeddah will be a watershed moment as Cenomi Centers pushes ahead with its ambitious growth pipeline to develop next-generation retail and lifestyle destinations in Saudi Arabia. Jawharat Riyadh and Jawharat Jeddah will deliver first to the Kingdom of Saudi Arabia (KSA) retailers and will redefine the experiences of retail and leisure in the capital and nationwide.

Jawharat Al Khobar is also expected to open in 2027, completing the trio of iconic new developments the Jawharat Centers will further cement Cenomi Centers’ position as the leading and largest owner, developer and operator of shopping malls in Saudi Arabia.

Story so far
Cenomi Centers has 22 malls featuring 1.4 million sqm of retail space with over 4,500 retail stores. It has a pipeline of a further six centers including three flagships and three lifestyle centers which will expand the total gross lettable space (GLA) by 44% to 2 million sqm by 2027. The large-scale flagship malls will feature an optimum mix of best-in-class and first-to-KSA retail, dining, next-generation entertainment, and experiential offerings, supported by technology-led customer services and leading-edge design.


What’s in store?
Jawharat Riyadh and Jawharat Jeddah will house Saudi Arabia’s first dedicated luxury retail districts, featuring premium and first-to-KSA global brands supported by customer services that will rival the world’s top luxury destinations including valet parking, personal shoppers, and dedicated VIP lounges with digital ordering and delivery services. They will also bring a range of flagship stores from the best of the world’s anchor consumer brands to the Saudi market, alongside leisure districts.

Vision 2030 and the retail industry
As the KSA retail industry moves from strength to strength, the advent of new and innovative retail developments like the Jawharat Centers will play a critical role in spearheading both the growth of the sector and wider regional initiatives to diversify the economy in line with Vision 2030.

With Saudi Arabia’s young, vibrant population predicted to expand rapidly in the first half of the 21st century, with growth of 34.2% since 2010 and a continued annual growth rate of 2.5% on average (Census), retail demand is set to soar, seeing a four-to-five percent compound annual growth rate (Bain & Company). Saudi Arabia already accounts for 49% of total retail sales in the GCC according to Euromonitor but has significant retail under-penetration in Riyadh and Jeddah compared to other regional cities. Both cities have just 0.4 sqm retail mall per capita compared to cities such as Dubai which has 1.3 and Abu Dhabi at 1.6.

Jawharat Riyadh seeks to redefine the consumer experience and set new standards in both Riyadh and KSA. It will promote Riyadh on the local, regional, and international stage with its best-in-class experiential retail and leisure. Jawharat Riyadh’s catchment has 65% of High-Income Households and 75% of Mid-Income Households within a 30-minute drive. Located in the up-and-coming Western district of Riyadh, it strategically lies in one of the capital’s busiest, fastest growing, and most affluent catchments with direct access to three major highways and offering 6,000 car parks.

Jawharat Riyadh will be in direct proximity to the Capital’s most vital urban cores such as the Diplomatic Quarters (3-minute drive), the adjacent Laysen Valley commercial hub (across the street), the Royal Palace (5-minute drive), King Abdullah Financial District (10-minute drive), Diriyah (10-minute drive), and the iconic Kingdom and Faislayah towers (5-minute drive).

Jawharat Riyadh will be the capital’s number one retail destination in terms of spending capacity, based on all 3rd party research engaged. It has a total spending potential of 4.4Bn SAR, placing Jawharat Riyadh at 2-3X times the average Grade A mall spend in Riyadh today.

FEW FACTS

  • The mall is expected to attract more than 20 million visitors a year, adding to Cenomi Centers’ record 2023 footfall total of 124 million customers.
  • The development will play an important role in helping drive tourism and will create 4,000 jobs – key pillars of Vision 2030.
  • It will achieve the internationally recognized Gold Standard Leadership in Energy and Environmental Design (LEED) which is a first for a KSA mall and will support Green Riyadh with more than one tree planted for every 2.5 meters of surface area, including the surface parking and the solid parts of the roof, totaling 4,500 trees.
    Retail and Leisure Offering
  • At 185,000 sqm of total GLA, the mall boasts over 300 stores, restaurants, lifestyle, and co-working space along with over 50,000 sqm of office space. It will bring luxury, lifestyle brands, entertainment, and dining at a scale not seen before in the Kingdom.
  • It will host over 30 first-to-KSA brands and 70 plus flagship stores from the most sought-after names.
  • Jawharat Riyadh will feature the first and largest luxury wing inside a shopping mall, spanning over 25,000 sqm with more than 60 luxury stores and services. 38% of GLA will be dedicated to luxury and premium brands.
  • Jawharat Riyadh’s entertainment offering will feature multiple number-one visited attractions and entertainment concepts from the US, Dubai, and Asia, serving all age groups including adults.
  • The food and beverage offering will span five distinct zones, including a premium dining district; a social dining and food retail hall, a fast-casual dining village anchored around a 24/7 dynamic and futuristic iconic attraction and an outdoor boulevard boasting cafes and casual dining restaurants.
  • The mall will boast distinct zones including the Luxury District; Fashion & Lifestyle Avenue; Youth & Innovation Zone; the Leisure & Entertainment District and four F&B zones.
  • World Class, all-age entertainment concepts will be on offer, including a digitally enabled multipurpose arena and event-activated piazzas with live events.
  • It will also pioneer the Kingdom’s first Youth and Innovation zone that will launch local talent and SMEs and serve as the retail hub for the world’s most innovative brands in technology, EV, sports, fashion, digitally-native brands, and concept stores.
  • As customers explore Jawharat Riyadh, they will also come across numerous digital offerings, including 3D holographic digital screens with generative art and mixed reality features.

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