Arabian Centres announces temporary closure of its commercial centers

16/03/2020 Argaam

 

Arabian Centres Company (ACC) announced on Monday that it will temporarily close all its commercial centers in Saudi Arabia.

 

The company said in a bourse filing that the move came in response to the directives of the government to safeguard its citizens and residents, and to prevent the spread of coronavirus (COVID-19) in the Kingdom.

 

The company further noted that it is currently difficult to assess the financial impact of the closure, adding that any material development will be announced in due course.

 

The company added that pharmacies and supermarkets will remain open in accordance with the directive of the Ministry of Municipal and Rural Affairs.

 

Olivier Nougarou, CEO of the company said in the statement that this temporary closure will not have a permanent impact on its business or future plans, and that the company remains optimistic about the Saudi market.

 

He added that the company’s strong financial footing enables it to minimize the impact of the temporary closures of its commercial centers.

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