Cenomi Centers says Westfield Jeddah begins operations
- Source
- Argaam - Company Disclosures
- Source link
- https://www.argaam.com/en/article/articledetail/id/1925958
- Published
- 2026-08-04 18:33:00
- Discovered by ProcIntel
- 2026-08-04 15:20:07
- Category
- Supplier Risk
- Geography
- Saudi Arabia, UAE
- Organisations
- —
- Review status
- Pending
- Record type
- REAL
Summary
<p><img src="https://argaamplus.s3.amazonaws.com/60124b13-4b2c-4c8f-8816-f2bb9c0e3e94.png" ></p> <p class="ckeCaption" >Cenomi Centers' Westfield Jeddah achieved a pre-leasing rate of nearly 96%.</p> <hr> <div data-olk-copy-source="MessageBody" >Arabian Centres Co. (<a href="https://www.argaam.com/en/tadawul/tasi/cenomi-centers" target="_blank">Cenomi Centers</a>) announced that its <a href="https://www.argaam.com/en/disclosures/projects/details/projectid/994" target="_blank">Westfield Jeddah</a> project has been completed, received its occupancy certificate, and officially launched operations on July 30.</div> <div data-olk-copy-source="MessageBody" ></div> <div> <p >In a statement to <strong>Tadawul</strong>, the company said the project had achieved a pre-leasing rate of nearly 96%. Following the launch of operations, Westfield Jeddah is coordinating with all tenants to complete the fit-out of their units ahead of commencing commercial operations, with the aim of reaching targeted occupancy levels.</p> <p ></p> <p >Once Westfield Jeddah reaches a stable operating phase, the project is expected to contribute about SAR 350 million in additional EBITDA annually, strengthening the company's net profit and cash flows.</p> <p ></p> <p >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 large numbers of visitors and noted that it will be the first shopping mall in the Kingdom to receive LEED Gold certification, Cenomi Centers explained.</p> <p ></p> <p >The project will also feature the Kingdom's first internationally branded luxury wing of its kind, alongside a comprehensive mix of retail, entertainment, luxury, food and beverage tenants.</p> <p ></p> <p >According to <span ><strong>Argaam</strong></span> 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.</p> </div>
Procurement Relevance Gate
- geographic_exposure (weight 8) — matched on "2 linked geographies"
Initial Signal Assessment ProcIntel's automatic, provisional read of this individual Signal -- Initial Significance and Initial Confidence, computed deterministically before any Event extraction or human review.
A provisional, automatically-computed reading of this individual Signal, before Event extraction or human review. Not a final rating.
Not Assessed — this Signal did not pass the Procurement Relevance Gate, or is fictional/excluded test data.