Cenomi Centers says Westfield Jeddah begins operations

Arabian Centres Co. (Cenomi Centers) announced the completion of its Westfield Jeddah project, the receipt of its occupancy certificate, and the official launch of the on-site operational phase on July 30.

In a statement to Tadawul today, Aug. 4, the company said the project had achieved a pre-leasing rate of nearly 96%. Westfield Jeddah is coordinating with all tenants to complete the fit-out of their units ahead of commencing commercial operations, in a bid to reach the targeted occupancy levels.

Once Westfield Jeddah reaches a stable operating phase, the project is expected to contribute about SAR 350 million in additional EBITDA annually, hence strengthening the company's net profit and cash flows.

Westfield Jeddah represents a landmark addition to Jeddah's retail and urban landscape, reinforcing the city's position as a key economic hub in Saudi Arabia. The company expects the mall to attract elevated footfall and to become the first of its kind in the Kingdom to receive LEED Gold certification, Cenomi Centers explained.

The project will also feature the Kingdom's first internationally branded luxury wing of its kind, alongside a comprehensive mix of retail, entertainment, luxury, and food and beverage tenants.

According to Argaam data, Cenomi Centers announced the Jawharat Jeddah project in 2019 as a new retail and entertainment destination in northern Jeddah. In 2024, the company signed an agreement with Unibail-Rodamco-Westfield, and the project was officially renamed Westfield Jeddah, becoming the first shopping mall in Jeddah to carry the global Westfield brand.