Arabian Centres Co. announced on April 1, 2026 that it signed a development agreement with Saudi Downtown Company, a wholly owned subsidiary of the Public Investment Fund, on March 31, 2026. The contract involves developing a flagship shopping mall in Al Khobar, which will be Cenomi Centers' largest shopping mall in the Eastern Province, with a value exceeding 5% of the company's annual revenues. Under the three-year agreement (extendable by two years with mutual consent), Cenomi will oversee and manage the development and construction until completion, which is anticipated within three years after obtaining necessary approvals. The contract is expected to positively impact net income during the execution period by affecting revenues and cost of revenues.

Original announcement:

Important Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.