In a strategic move to redefine Saudi Arabia's retail landscape, Cenomi Centers has entered into a 10-year exclusive partnership with Unibail-Rodamco-Westfield (URW), granting Cenomi the rights to operate the Westfield brand within the Kingdom. This collaboration aims to infuse Saudi shopping centres with Westfield's globally recognised retail experience, starting with flagship destinations in Riyadh, Jeddah, and Dammam.
Under the agreement, Cenomi Centers will maintain full ownership and operational control of its assets, while URW will provide strategic support in leasing, operations, marketing, and retail media. The partnership is set to enhance Cenomi's portfolio, which currently includes 21 assets across 10 major Saudi cities, encompassing nearly 1.3 million m² of gross leasable area (GLA).
“Cenomi Centers is an incredible partner that shares our vision for the future of retail,”* said Jean-Marie Tritant, CEO of URW. *“Its portfolio of flagship destinations matches the ambition of the Westfield brand, providing the perfect platform to deliver Westfield’s unmatched experience to customers and visitors in the Kingdom while also supporting our brand’s international expansion.”
The initial focus will be on three major developments: Jawharat Riyadh, Jawharat Jeddah, and Nakheel Dammam. Jawharat Riyadh, set to open in the second half of 2025, will feature over 300 stores, including more than 150 flagship outlets, and is expected to attract over 20 million visitors annually. Jawharat Jeddah, also slated for a late 2025 opening, will offer 300 stores with a dedicated luxury wing and is projected to draw over 15 million visitors each year.
“We are thrilled to embark on this groundbreaking and exclusive partnership with URW, a global leader in the retail real estate industry,”* said Alison Rehill-Erguven, CEO of Cenomi Centers. *“This collaboration not only solidifies our position as the leading owner, operator and developer of contemporary lifestyle centres in Saudi Arabia but also aligns with the Kingdom’s broader goals for economic growth and development in both the sector and region.”
For investors and developers, this partnership signifies a robust opportunity to tap into Saudi Arabia's rapidly expanding retail sector, which saw a 19% increase in footfall to 124 million visitors in 2023. The collaboration is poised to set new standards in retail experiences, aligning with the Kingdom's Vision 2030 objectives to diversify the economy and enhance the quality of life for its citizens.
People Mentioned:
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Jean-Marie Tritant – CEO, Unibail-Rodamco-Westfield
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Alison Rehill-Erguven – CEO, Cenomi Centers
Companies Mentioned:
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Cenomi Centers – Saudi Arabia's leading owner, operator, and developer of lifestyle centres
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Unibail-Rodamco-Westfield (URW) – Global developer and operator of flagship shopping destinations
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