Cenomi Centers inks 10-Year franchising deal with URW

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The partnership grants Cenomi exclusive licensing rights to the Westfield brand in Saudi Arabia and provides access to URW’s global network and advanced capabilities across functions including leasing, operations, marketing, and retail media.

Cenomi Centers aims to transform its malls operating under the Westfield brand into leading destinations for consumers, tourists, and global brands, while enhancing its market share in the retail sector.

The agreement, which includes an option to extend for another decade, also gives Cenomi Centers access to URW’s global network, operational expertise, and industry-leading capabilities.

By leveraging the Westfield brand and URW’s support, Cenomi Centers will offer world-class shopping experiences to residents and tourists in Saudi Arabia.

This partnership is expected to contribute to boosting tourism, enhancing the global presence of the retail sector, and supporting Saudi Arabia’s Vision 2030 goals of improving quality of life and opening the Saudi market to major international retail brands.

The agreement is exclusive within Saudi Arabia, reflecting Cenomi Centers’ leadership in the local market and reinforcing confidence in its future growth trajectory.

The deal will allow Cenomi Centers to expand its customer base by tapping into the strong appeal of Westfield, which attracts over 900 million visitors annually in the US and Europe.

With the growing number of visitors to Saudi Arabia, Cenomi Centers expects to significantly increase its customer base among locals, residents, and tourists. Access to Westfield’s extensive network of tenants and global brands will also help the company attract leading international names and introduce first-to-Saudi Arabia store openings, driving footfall and sales.

The partnership will elevate the customer experience by adopting URW’s global expertise, improving the tenant mix, and enhancing overall offerings to international standards. Cenomi Centers will also provide cutting-edge digital solutions, including in-mall apps and services, for Saudi consumers.

Additionally, the partnership is expected to strengthen the company’s financial performance across leasing and digital media sales, leveraging URW’s Westfield Rise retail media agency. Both companies will collaborate with third-party developers to serve key projects within Saudi Arabia’s expanding retail and lifestyle sectors.

The agreement includes both fixed and variable licensing and service fees for URW, along with opportunities for further expansion in business and licensing within Saudi Arabia.