Arabian Centers Co. (Cenomi Centers) announced on August 19, 2026 the signing of a Promise to Lease Agreement with Saudi Downtown Company, a Public Investment Fund (PIF) entity, on August 18, 2026, for the leasing and operation of the shopping mall within the Al Madinah Downtown Project. The Promise to Lease Agreement will remain in force for 3 years, after which a definitive 25-year lease and operation agreement will be executed upon project completion. No contract value or immediate financial impact has been recorded at this stage, as the agreement constitutes a preliminary commitment. The deal extends Cenomi Centers' existing strategic partnership with Saudi Downtown — previously established through the Al Khobar Downtown project — to Al Madinah, and supports the company's asset-light strategy by leveraging its expertise in shopping mall and lifestyle destination management.

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