Riyadh – Mubasher: Arabian Centres Company (Cenomi Centers) announced the inauguration of U Walk Jeddah hybrid mall in the Al Zahar district on 15 February 2024.
The mall includes indoor and outdoor retail areas including 136 stores across fashion, food and beverage, and entertainment, according to a press release.
The mall spans 60,000 square meters (sqm) of gross leasable area (GLA), with a parking space to accommodate 1,250 vehicles.
U Walk Jeddah features major brands such as Nike, Bershka, Starbucks, and 19V69 Versace which have already opened their doors ahead of the official opening.
About 80% of the mall area is pre-leased and other brands are set to open stores in the mall including Victoria’s Secret, Adidas, Zara and Lululemon.
The financial impact of U Walk Jeddah’s operations is expected to appear on Cenomi Centers' financial statements starting from the first quarter (Q1) of 2024.
Alison Rehill-Erguven, CEO of Cenomi Centers, said: “We are delighted to host the much-anticipated Grand Opening of U Walk Jeddah – the city’s premier lifestyle destination for shopping, dining and entertainment.”
“U Walk Jeddah is redefining the mall experience with its next-generation design and offering, representing everything Cenomi Centers seeks to achieve in offering the retail experiences of tomorrow. This milestone is further evidence of our bold ambitions for the future,” Rehill-Erguven added.
Earlier in February, Cenomi Centers secured credit facilities of up to SAR 5.25 billion in a sustainability-linked financing agreement with a group of major banks.
The Tadawul-listed company recorded a 64.04% year-on-year (YoY) increase in net profits after Zakat and tax to SAR 1.32 billion during the first nine months (9M) of 2023, against SAR 621 million.
